Embraer recorded a 33% year-on-year increase in deliveries and reached a new US$ 22.7 billion backlog record | ERJ Stock News

• The company delivered 57 aircraft in 3Q24 versus 43 a year ago
• 2 C-390 Millennium aircraft delivered during the quarter and 6-12 A-29 Super Tucanos orders
• First E2 aircraft delivered to LOT Polish Airlines
• US$ 22.7 billion company wide backlog, up more than 25% annually and at a 9-year high level
• Defense & Security backlog soared almost 70%

SÃO PAULO, Oct. 18, 2024 /PRNewswire/ — Embraer (NYSE: ERJ; B3: EMBR3), a global leader in the aerospace industry, delivered a total of 57 jets in 3Q24 – an increase of 33% compared to the same period last year (yoy) and 24% over to the previous quarter (qoq). Commercial aviation delivered 16 jets and Executive aviation delivered another 41 jets. Meanwhile, Defense & Security delivered 2 C-390 Millennium aircraft during the quarter – the first aircraft to Hungary and the seventh to Brazil.

The company wide backlog reached US$22.7 billion in 3Q24 (or more than 25% higher yoy and almost 10% higher qoq) – at a 9-year high level. Defense & Security registered the biggest increase in backlog (+US$1.5 billion) followed by Services & Support (+US$367 million), while Executive and Commercial Aviation recorded marginal decreases (-US$184 million and -US$168 million, respectively).

Executive Aviation Highlights

In Executive Jets, deliveries reached 41 units and increased more than 45% yoy and more than 50% qoq. The backlog of the business unit reached US$ 4.4 billion during the quarter, 3% higher annually but 4% lower sequentially.

The nominal decline in the backlog from its historical peak level can be explained by stronger growth (higher deliveries) and a seasonally slower period for sales because of summer in the northern hemisphere.

The mid and super-mid sized jets Praetor 500 and Praetor 600 represented close to half of the segment deliveries (19 jets) boosted by the positive momentum for this aircraft family. Meanwhile, the Phenom 300, the best-selling aircraft in its category for 12 consecutive years worldwide, was once again the top performer (18 jets) during the quarter.

Commercial Aviation Highlights

In Commercial Aviation, deliveries reached 16 jets (underpinned by 12 units from the E2 family and 4 from the E1) during the period, up more than 5% yoy. The highlight was the delivery of the first E2 aircraft under a contract signed with a lessor to supply LOT Polish Airlines – the agreement includes two more jets before year-end. Additionally, Virgin Australia placed a firm order for eight E190-E2 small narrowbody aircraft during the quarter. Consequently, the segment’s backlog reached US$ 11.1 billion in 3Q24, almost 30% higher yoy and marginally lower qoq.

Defense & Security Highlights

In Defense & Security, the Hungarian Air force took delivery of its first C-390 Millennium, and the Brazilian Air Force received its seventh unit. A new firm contract for the acquisition of nine C-390 aircraft was signed with the Netherlands and Austria, and announced at the Farnborough International Airshow (FIA). The positive momentum carried over to the A-29 Super Tucano, with sales contracts signed with Paraguay and Uruguay. The segment’s backlog reached US$ 3.6 billion, up circa US$1.5 billion or about 70% both qoq and yoy.

Services & Support Highlights

The backlog of Services & Support reached US$ 3.5 billion for an increase of more than 25% yoy and more than 10% qoq. The company announced in the third quarter the expansion of its customer support network in the Asia-Pacific region through partnerships with SIA Engineering Corporation and Fokker Services Asia, and in the United States with direct investment in new facilities in Texas.

About Embraer 

A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive aviation, Defense and Security, and Agricultural Aviation. The company designs, develops, manufactures, and markets aircraft and systems, providing Services and Support to customers after-sales.

Since it was founded in 1969, Embraer has delivered more than 9,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 150 million passengers a year.

Embraer is the leading manufacturer of commercial jets with up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service, and parts distribution centers, among other activities, across the Americas, Africa, Asia, and Europe.

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SOURCE Embraer S.A.

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