Embraer announced an adjustment to its full-year 2024 guidance on November 8. The company stated that it believes its previous guidance no longer accurately reflects the balanced opportunities and risks associated with its full-year operations.
Operationally, Embraer now expects to deliver between 70 and 73 commercial aircraft, a decrease from its prior forecast of 72 to 80. Executive aviation deliveries remain unchanged, projected to be between 125 and 135 aircraft.
Financially, the company maintains its revenue forecast in the range of US$6.0 to US$6.4 billion. However, it has significantly increased its Adjusted EBIT margin projection to between 9.0% and 10.0%, up from the previous range of 6.5% to 7.5%. Additionally, the company expects Adjusted Free Cash Flow to be US$300 million or higher, a substantial increase from the previous forecast of US$220 million or higher.
Embraer reported strong third-quarter 2024 results, delivering 59 jets, including 41 executive jets, 16 commercial jets, and 2 multi-mission C-390 Millennium aircraft. This represents a 26% increase quarter-over-quarter and a 37% increase year-over-year. The company’s firm order backlog reached a record US$22.7 billion, a 9-year high and a 25% increase year-over-year.
