- Strong overall backlog volume of US$
21.1 billion (+13% QoQ)
- American Airlines placed a firm order for 90 E175
jets
- Commercial Aviation backlog rose US$2.3 billion (+26% QoQ)
- 1Q Executive Aviation deliveries were the highest of the
last 8 years
SÃO JOSÉ DOS CAMPOS, Brazil, April 19,
2024 /PRNewswire/ -- Embraer (NYSE: ERJ; B3: EMBR3)
delivered 25 jets in 1Q24, an increase of 67% compared to the 15
aircraft delivered in 1Q23. Executive Aviation showed robust
delivery growth, soaring from 8 to 18 jets during the period. The
number of deliveries was the highest 1Q of the last 8 years, and
more than doubled YoY. Meanwhile, for Commercial Aviation,
deliveries were flat YoY at 7 aircraft.
Deliveries by
Segment
|
1Q23
|
1Q24
|
2024
Guidance
|
|
|
|
|
Executive
Aviation
|
8
|
18
|
125-135
|
Phenom 100
|
2
|
1
|
|
Phenom 300
|
4
|
10
|
|
Light
Jets
|
6
|
11
|
|
Praetor 500
|
-
|
3
|
|
Praetor 600
|
2
|
4
|
|
Medium
Jets
|
2
|
7
|
|
|
|
|
|
Commercial
Aviation
|
7
|
7
|
72-80
|
E195-E2
|
5
|
4
|
|
E175
|
2
|
3
|
|
|
|
|
|
Total
|
15
|
25
|
197-215
|
Embraer delivered 12% of the total number of aircraft implied by
the mid-point of the current year guidance for both Executive and
Commercial Aviation (25 out of 206). The company has developed, and
it is currently implementing, a plan to mitigate its business
seasonality. The Production Leveling plan main objective is to have
a stable production pace throughout the calendar year in the near
to medium-term future.
The company's backlog increased US$2.4
billion or 13% sequentially to US$21.1 billion in 1Q24, compared to a total
backlog of US$18.7 billion in 4Q23.
The biggest increase happened in Commercial Aviation (US$2.3 billion or 26%) while the smallest one was
in Defense & Security (-US$0.1
billion or –4%).
Backlog by Segment -
US$bn
|
4Q23
|
1Q24
|
QoQ
|
|
|
|
|
Executive
Aviation
|
4.3
|
4.6
|
7 %
|
Defense &
Security
|
2.5
|
2.4
|
-4 %
|
Commercial
Aviation
|
8.8
|
11.1
|
26 %
|
Services &
Support
|
3.1
|
3.1
|
0 %
|
|
|
|
|
Total
|
18.7
|
21.1
|
13 %
|
Executive Aviation kept its sales momentum with
sustained demand across its entire product portfolio and strong
customer acceptance, in both retail and fleet markets. The number
of deliveries increased 83% YoY in the light jets segment, and more
than tripled in the medium jets one compared to 1Q23. Consequently,
Executive Aviation ended with a US$4.6
billion backlog in 1Q24, for a US$
300 million sequential increase.
In Defense & Security, the first C-390 Millennium of
the Hungarian Air Force successfully completed its maiden flight.
The aircraft is now undergoing a mission systems integration test
campaign, ahead of its entry into service. Another important
milestone in the quarter was the first Embraer Defense Day in
the United States; an event during
which the C-390 Millennium and the A-29 Super Tucano were showcased
to government authorities, military officials, prospects, and
partners at our facilities in Melbourne,
Florida. The C-390 selection by some countries in the EMEA
and APAC regions has not yet been incorporated into the backlog,
which represents a significant source of upside potential for the
coming quarters. The Defense & Security backlog reached
US$2.4 billion (-4% QoQ) in
1Q24.
Services & Support continues to be one of the main
drivers of Embraer's growth through a combination of operational
excellence, customer experience, and innovative solutions. The
business unit backlog finished the period sequentially flat at
US$ 3.1 billion in 1Q24.
Commercial Aviation posted a US$11.1 billion backlog, or US$2.3 billion higher than in 4Q23. The
highlight of the quarter was the deal with American Airlines for 90
E175s, with purchase rights for another 43 additional jets, to meet
domestic demand in the United
States. Also, Embraer delivered one E195-E2 to Azorra, which
will fly under the Royal Jordanian flag.
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SOURCE Embraer S.A.