Quarterly net income was R$7.3 billion, down 25% year-on-year. The average estimate of analysts polled by Refinitiv Eikon was R$4.95 billion.
The company reported adjusted earnings before interest, tax, depreciation and amortization (EBITDA) 22% lower than the same quarter of 2020, R$609.4 million, while its adjusted EBITDA margin stood at 8.4%, “through increased operational efficiency and better prices,” she said.
The aircraft maker had already released its fourth-quarter delivery figures in February, when it said its closed order backlog ended 2021 at the highest level since the second quarter of 2018, which caused analysts to call quarterly results “strong.”
Embraer also provided forecasts for 2022, excluding its electric aircraft subsidiary Eve, saying it expects deliveries for its business unit between 60 and 70 jets and business jet deliveries in the range of 100. 110 planes.
Its free cash flow forecast is $50 million “or better”, while its revenue is forecast in the range of $4.5 billion to $5.0 billion for the year.
($1 = 5.0123 reais)