Embraer says it remains on track to meet its 2024 aircraft-delivery goals despite other aerospace suppliers recently curtailing delivery estimates due to stubborn supply chain troubles.
The Brazilian manufacturer affirmed its 2024 guidance on 8 August, the day it reported turning a $103 million profit in the second quarter of the year.
That compares to Embraer’s $26 million loss in the same period of last year.
The company’s second-quarter revenue jumped 16% year on year to $1.5 billion.
“We are fully committed to reach our full-year guidance despite all the ongoing supply chain constraints,” Embraer chief executive Francisco Gomes Neto said on 8 August. “We are confident that we’ll be able to deliver the guidance for the year.”
That guidance calls for Embraer to deliver 197-215 civilian jet-powered aircraft in 2024, including 72-80 E-Jet airliners and 125-135 business jets. It also aims this year to generate revenue of $6-6.4 billion.
Embraer has made progress toward those goals but has far to go.
It has delivered 71 civilian jets – including 26 E-Jets and 45 business jets – in the first half of the year. In the second quarter alone, Embraer delivered 46 aircraft, among them 19 E-Jets and 27 business jets.
Embraer is sticking to its guidance despite other aerospace manufacturers pulling back.
In July, GE Aerospace revised its 2024 delivery estimate, saying it expects to ship roughly the same number of CFM International Leap turbofans this year as last. GE, which co-owns CFM with Safran Aircraft Engines, had previously aimed to hike Leap deliveries 10-15% year on year.
Similarly, in June Airbus slashed its full-year 2024 delivery guidance to an expected 770 aircraft, down from 800.
GE and Airbus executives attributed the changes to supply chain troubles.
On 8 August, Embraer’s Gomes Neto said his company too continues “to face supply chain challenges”.
Embraer’s improved second-quarter financial results reflect strong performance of all its divisions except the business-aircraft unit, which generated $336 million in second-quarter revenue, down 11% year on year.
Embraer’s revenue from its commercial aircraft division jumped 17% year on year to $554 million in the second quarter, its defence revenue more than doubled year on year to $187 million and its aftermarket revenue climbed 19% year on year to $404 million.
