Embraer SA reports Q3 (Sep) results, misses on revs; reaffirms outlook (15.15)
- Reports Q3 (Sep) earnings of $0.38 per share, may not be comparable to the two analyst estimate of $0.24; revenues rose 38.1% year/year to $1.28 bln vs the $1.33 bln FactSet Consensus.
- Firm order backlog ended 3Q23 at $17.8 billion, the highest level in one year, driven by higher sales in Commercial Aviation. Commercial Aviation backlog rose from $8 billion to $8.6 billion compared to 2Q23, with 42 aircraft sold in 2023. Services & Support reached $2.8 billion in the quarter, the highest volume ever recorded in the business unit. Executive Aviation strong backlog at $4.3 billion highlights its sustained demand backlog.
- Operational and financial guidance for 2023 remains unchanged