The earnings call presented a mixed picture for Embraer. While the company reported strong overall revenue growth and a record backlog, supply chain challenges and profitability issues in certain segments, particularly Commercial Aviation and Defense & Security, posed significant challenges. The positive developments, including a credit rating upgrade and strong performance in Executive Aviation, were somewhat offset by these issues.

Company Guidance

During Embraer's Q3 2024 earnings call, the company provided updated guidance reflecting both opportunities and risks for their operations. The revenue guidance for 2024 was reiterated at a midpoint of $6.2 billion. The adjusted EBIT margin was increased to a range of 9.5%, and free cash flow generation was projected at $300 million or higher. In terms of operational guidance, the company maintained its delivery target for Executive Aviation at 125 to 135 aircraft but reduced its Commercial Aviation delivery guidance from 72-80 jets to 70-73 due to supply chain issues. Year-over-year, Q3 revenues increased by over 32%, driven by a significant rise in Executive Aviation and Defense & Security, which grew by more than 65%. The adjusted operating margin for Q3 improved to 17.6%, although excluding a $150 million Boeing arbitration agreement, the margin was 8.7%. The firm's order backlog reached $22.7 billion, with a book-to-bill ratio above 2:1. Other key figures included a 33% year-on-year increase in total aircraft deliveries for Q3 and a 22% rise year-to-date. Fitch Ratings upgraded Embraer's credit rating to BBB- with a stable outlook, making the company investment-grade with two leading U.S. rating agencies.

Strong Revenue Growth

Embraer reported a 32% year-over-year increase in Q3 revenues, driven by Executive Aviation and Defense & Security, both up more than 65%. Overall company revenues increased 24% in the first 9 months of 2024 compared to the same period in 2023.

Increased EBIT Margin and Free Cash Flow

Adjusted EBIT margin improved to 17.6% during Q3. The company also increased its free cash flow generation guidance to $300 million or higher.

Record Backlog

Embraer's firm order backlog reached $22.7 billion in Q3, supported by a robust year-to-date book-to-bill ratio higher than 2:1.

Credit Rating Upgrade

Fitch Ratings upgraded Embraer's rating from BB+ to BBB- with a stable outlook.

Executive Aviation Records

The Executive Aviation segment achieved its best third quarter in terms of revenues and deliveries in its history, with a 65% year-on-year revenue increase in Q3.

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Embraer SA (ERJ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ERJ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 14, 2025	2024 (Q4)	0.50 / -	1.049	―	―	―
Nov 08, 2024	2024 (Q3)	0.28 / 1.20	0.331	263.44% (+0.87)
Aug 08, 2024	2024 (Q2)	0.22 / 0.54	-0.1	641.00% (+0.64)
May 07, 2024	2024 (Q1)	-0.17 / 0.16	-0.386	141.45% (+0.55)
Mar 18, 2024	2023 (Q4)	0.72 / 1.05	0.125	739.20% (+0.92)
Nov 06, 2023	2023 (Q3)	0.24 / 0.33	-0.16	306.88% (+0.49)
Aug 14, 2023	2023 (Q2)	0.19 / -0.10	0.4	-125.00% (-0.50)
May 04, 2023	2023 (Q1)	-0.02 / -0.39	-0.173	-123.12% (-0.21)
Mar 10, 2023	2022 (Q4)	0.33 / 0.13	0.01	1150.00% (+0.12)
Nov 14, 2022	2022 (Q3)	0.09 / -0.16	-0.245	34.69% (+0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ERJ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 08, 2024	$35.18	$37.43	+6.40%
Aug 08, 2024	$27.08	$29.92	+10.49%
May 07, 2024	$27.08	$26.57	-1.88%
Mar 18, 2024	$23.33	$23.48	+0.64%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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