Embraer: Strong 3Q, but ‘Dry Season’ To Come
Brazilian aircraft manufacturer Embraer showed strong third-quarter results compared with last year but cautioned that the company expects “a dry season for some time” beyond next year. The São Jose dos Campos-based company recorded third-quarter net sales of $1.546 billion and net income of $56.7 million, and the current backlog shows firm orders for 459 aircraft of all types. Net revenues for Embraer Executive Aviation increased 5.5 percent, to $223.1 million. Additionally, Embraer delivered 48 aircraft, compared with 47 in the same period last year, and expects to meet its goal of 195 to 200 deliveries by year-end.