Embraer Reports Growth in Net Income, Revenue
The aerospace company said increased deliveries of executive and commercial jets helped drive results at the end of 2022.
Embraer said strong sales of its Phenom 300 light jet helped drive its improving results. [Credit: Shutterstock]
Embraer said its aircraft deliveries rose and its order backlog grew during 2022, driven in part by demand for the Brazilian company’s executive jets including its popular Phenom 300 series.
Net income for the fourth quarter totaled $22.9 million, or 12 cents per share, compared with $2.1 million, or one cent per share, during the fourth quarter of 2021. Revenue rose 53 percent during the quarter to $2 billion from $1.3 billion.
For the year, Embraer posted a net loss of $185.4 million, or $1.01 per share, compared with a loss of $44.7 million, or 24 cents per share, during 2021. Full-year revenue rose to $4.54 billion from $4.2 billion.
Embraer said it delivered 80 jets during the fourth quarter, including 30 commercial aircraft and 50 executive jets. For the year, deliveries rose nearly 13 percent to 57 commercial aircraft and 102 executive jets, despite what the company characterized as “significant supply chain constraints.”
Embraer said its order backlog totaled $17.5 billion by the end of 2022—an increase of $500 million compared with 2021.
Company guidance for potential 2023 results calls for commercial jet deliveries of 65 to 70 aircraft and executive jet deliveries of 120 to 130 aircraft. Embraer said it expects revenues in a range of $5.2 billion to $5.7 billion.
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