Summary
- Embraer delivered 19 commercial aircraft in Q2 2024, a significant growth compared to the previous quarter.
- The company’s backlog has risen to $21.1 billion, with the commercial aircraft backlog being primarily driven by an order of 20 E2 aircraft from Mexicana.
- The aircraft manufacturer maintained its commercial aircraft delivery guidance.
Embraer has announced its Q2 2024 deliveries, saying that it handed over 88% more aircraft quarter-on-quarter (QoQ) to its commercial, private, and defense customers while also growing its backlog by 20% year-on-year (YOY).
Commercial aircraft delivery growth
Embraer detailed that in Q2, it delivered seven E195-E2, four E190-E2, and eight E175 aircraft, totaling 19 jets during the three-month period. In comparison, Embraer’s Q1 commercial aircraft deliveries numbered only seven aircraft, split between four E195-E2 and three E175s.
Meanwhile, in Q2 2023, Embraer handed over 17 aircraft, while in H1 2023, it delivered 24 aircraft, meaning that its H1 deliveries grew by only two commercial aircraft YoY.
Photo: Embraer
In terms of private jet deliveries, during Q2, Embraer’s customers received 27 aircraft, split between 20 light jets, namely two Phenom 100 and 18 Phenom 300s, and seven medium jets, three Praetor 500 and four Praetor 600 aircraft. In H1, it delivered 45 private jets, seven more than in H1 2023.
During the same quarter, Embraer also delivered a single C-390 Millennium. With a single delivery through H1, the Brazilian aircraft manufacturer repeated its H1 2023 result when it also handed over one C-390 aircraft to the Brazilian Air Force (Força Aérea Brasileira, FAB) in June 2023.
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Embraer E2 Deliveries More Than Doubled In 2023
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Increasing backlog
Company-wide, Embraer’s backlog grew to $21.1 billion, 20% higher YoY and “marginally higher QoQ.” The company saw the largest growth in commercial aviation, where the worth of its backlog grew by $227 million YoY, while the backlog of private jets and services grew by 8% and 16% YoY, respectively.
The single C-390 Millennium delivery resulted in the backlog of Embraer’s defense business shrinking by 16% YoY, or $251 million.
Photo: Markus Mainka | Shutterstock
Nevertheless, the biggest growth driver of Embraer’s commercial aircraft backlog was an order for 20 E2 aircraft by Mexicana de Aviación (Mexicana). The Brazilian aircraft manufacturer has planned to begin deliveries of the ten E190-E2 and E195-E2 aircraft in Q2 2025.
By the end of Q2, the manufacturer had 382 aircraft in its firm backlog: 182 E195-E2, 21 E190-E2, and 179 E175, with the latter type being delivered to United States-based regional carriers.
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Earnings report to follow
Embraer was scheduled to release its Q2 2024 earnings report on August 8. In Q1, the company ended the period with revenue of $716.7 million and an adjusted net loss of $88.9 million.
The manufacturer’s commercial aircraft division ended the period with revenues of $201 million and with an adjusted earnings before interest and taxes (EBIT) margin of -15%.
Photo: Welshboy2020 | Shutterstock
At the end of that period, Embraer estimated that it would deliver between 72 and 80 commercial aircraft, a guidance that it maintained when it announced its Q2 2024 deliveries. In total, excluding the C-390 Millennium, the manufacturer planned to hand over from 197 to 215 aircraft to its customers.
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