Subscribe Free
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

Oman Air wins a prestigious award

Oman Air has been awarded the Signum Virtutis, the seal of excellence, from the Seven Stars Luxury Hospitality and Lifestyle Awards 2018.

Qatar Airways offers limited edition amenity kits to support Breast Cancer Awareness Month

Limited edition pink amenity kits are being offered to Qatar Airways’ passengers throughout the month of October to mark the airline’s continuing support for Breast Cancer Awareness Month.

Etihad Cargo migrates to new iCargo technology platform

Etihad Cargo this week celebrated its 14-year history, fully migrating to “SPRINT”, an IBS iCargo fully integrated technology platform offering the digital answer to its evolving cargo management needs.

Qatar Airways Cargo commences freighter services to Macau

Qatar Airways Cargo has commenced freighter services to Macau, the carrier’s fourth freighter destination in Greater China.

Boeing forecasts air cargo traffic will double in 20 Years

Boeing projects air cargo operators will need more than 2,600 freighters over the next two decades to keep up with increasing global freight traffic, which is expected to double with 4.2 percent growth annually.

Competitive boost and enhanced operational capabilities for H145

Airbus H145 customers will now benefit from the extension of the warranty of the H145’s Arriel 2E engines from two years/1,000 hours to three years/2000 hours. This extension is valid for H145s delivered from January 2018.

TAA SK0902311218
See us at
MarrakechAirshow BT2507241018Aviation Africa BT0607280219GATM BT1004061118BIAS BT271017161118AviationShowBT1110141118MAPS18_BT1207131118AIME19BTA3005120219MEBAA BT1004121218