in Business & Finance

Embraer delivers third quarter 2016 results

Posted 31 October 2016 · Add Comment

During 3Q16, Embraer delivered 29 commercial jets and 25 executive jets (13 light and 12 large).

The Company’s firm order backlog ended the quarter at US$ 21.4 billion versus US$ 21.9 billion in 2Q16. 

Revenues in 3Q16 grew 17.9% on a year-over-year basis to US$ 1,514.3 million, driven by higher revenues in the Commercial Aviation and Defense & Security segments. 

Consolidated gross margin in 3Q16 was 18.8%, an increase from the 17.5% registered in 3Q15. 

In 3Q16, the Company booked in Other operating income (expense), net an additional US$ 5.5 million loss contingency related to finalization of negotiations related to the U.S. Foreign Corrupt Practices Act (FCPA), and a US$ 118.1 million provision related to costs for the first round of voluntary dismissal. 

Adjusted EBIT and Adjusted EBIT margin in 3Q16, excluding the impacts of the loss contingency and provision listed above, were US$ 94.7 million and 6.3%, respectively. Adjusted EBITDA and Adjusted EBITDA margin in the quarter, excluding these impacts, were US$ 187.3 million and 12.4%, respectively. 

3Q16 Net loss attributable to Embraer Shareholders and Loss per basic ADS totaled US$ (33.7) million and US$ (0.1848), respectively. 

3Q16 Adjusted Net Income, which excludes non-cash deferred income taxes and social contribution largely related to foreign exchange variation on non-monetary assets, as well as the aforementioned non-recurring items, was US$ 79.1 million. Adjusted earnings per basic ADS totalled US$ 0.4337 in 3Q16. 

Embraer announced on October 24, 2016 the terms of the agreements for the resolution of investigations with the U.S. and Brazilian authorities. As part of the settlement, the Company agreed to pay US$ 205.5 million to these authorities. The settlement further provides that as long as the terms of the agreements are fully honoured, no charges will be brought against the company.

* required field

Post a comment

Other Stories
Advertisement
Latest News

AAR signs extended PBH contract with Air Austral

AAR has secured an extension of its contract supporting Air Austral's fleet of B737NG aircraft, which began in 2009.

PARIS AIRSHOW: Ethiopian wins Best Airline in Africa at Skytrax awards

Ethiopian Airlines won Skytrax World Airline Award for The Best Airlines in Africa at the Paris Air Show this week.

Sabena technics and Precision Air extend collaboration

Precision Air is to keep Sabena technics for the component support of its entire fleet of ATRs.

Etihad Airways to increase services to North Africa

Etihad Airways is increasing capacity between its Abu Dhabi hub and key markets of Amman, Beirut, Cairo, Casablanca and Rabat to cater to the peak June September travel period, while additional services to Dammam will be year-round.

Airbus launches new open aviation data platform to support digital

Airbus has launched a new aviation data platform in collaboration with Palantir Technologies pioneers in big-data integration and advanced analytics. Skywise aims to become the single platform of reference used by all major

PARIS AIRSHOW: GE and its JV partners receive more than $31 billion in orders

GE Aviation and its joint venture companies, led by CFM International, announced more than $31 billion (USD) in orders and commitments at this week's Paris Air Show.

Aviation Africa SK18418
See us at
Aviation Africa BT18418GroundHandling BT0303280917Global Aerospace BT28218