Embraer eyes strong second half after solid second quarter

Embraer delivered a second C-390 airlifter to Portugal in the second quarter of 2024. (Embraer )

Embraer continues to see positive results in 2024, with revenues totalling USD2.39 billion over the first half of the year, up from USD2 billion through the first half of 2023, according to a company statement on 8 August. Consolidated revenue for the quarter totalled USD1.49 billion, a 16% increase year-on-year and 67% over the first quarter, driven by solid performance from the Services & Support and Commercial Aviation businesses, which recorded revenue increases of 19% and 17%, respectively, the statement said.

During the quarter, 47 aircraft were delivered, an 88% increase over the first quarter, including 27 executive jets, 19 commercial jets, and one C-390 Millennium multimission transport for the Portuguese Air Force, according to Embraer's Backlog & Deliveries report for the second quarter. Portugal ordered five C-390s in 2019, the first of which entered service in October 2023, the report said. Overall deliveries increased 12% compared with the second quarter of 2023.

The Defense & Security division saw USD187.2 million in revenues in the second quarter, nearly 130% higher year-on-year, largely because of higher C-390 volumes, the statement said. As a result, gross margin improved from -1.5% in the second quarter of 2023 to 9% in the second quarter of 2024.