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    AIR   NL0000235190

AIRBUS SE

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Real-time Euronext Paris  -  11:35 2022-09-30 am EDT
88.89 EUR   +0.91%
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Brazil's Embraer sticks to 2022 forecasts as Q2 net profit falls

08/04/2022 | 06:54am EDT
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos

SAO PAULO (Reuters) - Brazilian planemaker Embraer SA on Thursday posted a second-quarter adjusted net profit down 9.6% from a year earlier, but reaffirmed all aspects of its financial and delivery outlooks for 2022.

Embraer's quarterly adjusted net income reached $39.4 million, recovering from the $78.5 million net loss seen in the previous quarter, driven by its product mix and price hikes, according to a securities filing.

The company stuck to its previously announced full-year forecasts, with revenue seen reaching between $4.5 billion and $5 billion and deliveries projected at 100 to 110 executive jets and 60 to 70 commercial jets.

Quarterly revenue came in at $1.02 billion, also down roughly 10% amid lower deliveries in its Commercial and Defense & Security units, which were partially offset by higher revenues in Services & Support.

Embraer, the world's No. 3 planemaker behind Boeing Co and Airbus SE, also highlighted a 102% free cash flow improvement to $91.2 million, citing the divestment from its Evora facilities in Portugal and the initial public offering of its electric aircraft unit Eve Holding Inc.

Embraer had already reported that second-quarter deliveries totaled 32 jets, including 11 commercial aircraft and 21 executive jets - falling just shy of the 34 jets delivered in the same period last year but gaining pace after a lukewarm first quarter.

The company initially filed results in Brazilian reais before reporting its earnings in U.S. dollars.

($1 = 5.2835 reais)

(Reporting by Gabriel Araujo Editing by Steven Grattan and Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.91% 88.89 Real-time Quote.-20.89%
EMBRAER S.A. -2.51% 11.65 Delayed Quote.-51.85%
EVE HOLDING, INC. -7.04% 9.24 Delayed Quote.0.00%
THE BOEING COMPANY -3.39% 121.08 Delayed Quote.-37.75%
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Financials
Sales 2022 59 161 M 58 012 M 58 012 M
Net income 2022 3 913 M 3 837 M 3 837 M
Net cash 2022 7 555 M 7 408 M 7 408 M
P/E ratio 2022 17,6x
Yield 2022 2,02%
Capitalization 70 000 M 68 641 M 68 641 M
EV / Sales 2022 1,06x
EV / Sales 2023 0,85x
Nbr of Employees 128 873
Free-Float 74,0%
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Mean consensus BUY
Number of Analysts 18
Last Close Price 88,89 €
Average target price 143,75 €
Spread / Average Target 61,7%
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Managers and Directors
Guillaume Faury Chief Executive Officer & Director
Dominik Asam Chief Financial Officer
René Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
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