Embraer reports reduced adjusted net loss in Q1

Embraer reports reduced adjusted net loss in Q1 (Image: Reuters)

VoM News Desk | May 7, 2024 | 04:32 PM IST | Brazil | Follow on Google News

Embraer reports reduced adjusted net loss in Q1

Embraer reports reduced adjusted net loss in Q1

SAO PAULO, May 7 (Reuters) – Brazilian planemaker Embraer (EMBR3.SA), opens new tab reported on Tuesday an adjusted net loss of 63.5 million reais ($12.51 million) for the first quarter, less than the 460.5 million-real loss it posted a year earlier, according to a securities filing.

The improved results came in as the world’s third-largest planemaker delivered a total 25 jets in the period, 67% more than a year ago, leading its net revenues to jump 19% to 4.5 billion reais.

Embraer reaffirmed its estimates for 2024, including deliveries of 72 to 80 commercial aircraft and 125 to 135 executive jets, with total revenues expect to hit $6 billion to $6.4 billion.

($1 = 5.0758 reais)

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