UPDATE – Embraer reported its first Q3 net profit to shareholders since 2017, ending the 2023 third quarter with a $61 million result. Excluding special items, the net profit was $32.9 million. All business units produced positive results, although revenues for Commercial Aviation and Executive Aviation were higher in Q2.
The consolidated net profit of $61 million compares to a $-30.2 million net loss for Q3 last year. Revenues grew to $1.284 billion from $929 million, Adjusted EBIT to $100.1 million from $49.9 million. This resulted in an Adjusted EBIT margin of 7.8 percent, up from 5.4 percent. The result reflects higher volumes at Commercial Aviation and Defense and Security. Adjusted free cash flow was $44 million.
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