Embraer Announces 1Q Results
Brazilian airframer Embraer last month announced slightly improved first-quarter revenue (Brazil’s fiscal calendar mirrors the yearly calendar) over the same period last year, though reduced deliveries and continued supply-chain issues resulted in a net profit decrease for the company. Net revenue for the first quarter was up 4.3 percent, to $843.4 million, compared with $808.3 million a year ago. Increased production costs ate into profit, which fell from $231.9 million to $216.3 million. Business aircraft accounted for $119.4 million of the company’s total revenue. Things are looking up for the future, however, as the company holds orders for about 400 of its new business aircraft, the Phenom 100 VLJ and Phenom 300 light jet.