Embraer announces 33% YoY delivery increase in Q3, $22.7B backlog

In an earlier release, Embraer (ERJ) announced the delivered a total of 57 jets in 3Q24, an increase of 33% compared to the same period last year or yoy and 24% over to the previous quarter or 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 $22.7B 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 or $1.5B, followed by Services & Support $367M while Executive and Commercial Aviation recorded marginal decreases .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 $ 4.4B during the quarter, 3% higher annually but 4% lower sequentially….In Commercial Aviation, deliveries reached 16 jets 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$ 11.1B in 3Q24, almost 30% higher yoy and marginally lower qoq…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. Other publicly traded companies in the space include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), HII (HII), L3Harris Technologies (LHX), Lockheed Martin (LMT), Northrop Grumman (NOC) and RTX (RTX).