Embraer has revised its 2024 forecast and now expects to deliver 70 to 73 commercial aircraft, down from the previous forecast of 72 to 80 aircraft.
However, business jet deliveries are still estimated at 125 to 135 units. Despite these adjustments, the revenue forecast remains unchanged at $6,0 to $6,4 billion. The company also expects an adjusted EBIT margin of between 9,0 and 10,0% and free cash flow of at least $300 million.
In the third quarter of 2024, Embraer delivered 59 aircraft, including 41 business jets, 16 commercial aircraft and two defense multi-role aircraft, an increase of 26% compared to the previous quarter and an increase of 37% compared to the same period last year. The order backlog reached a new record of $22,7 billion.
The company particularly benefited from the Executive Aviation and Defense & Security segments, each of which recorded revenue growth of 65% year-on-year. Adjusted EBIT for the third quarter was $297,5 million, representing a margin of 17,6%. In addition, Embraer's credit rating was upgraded to 'BBB-' by Fitch Ratings, which now positions the company in the investment grade segment with a stable outlook.