Embraer posts fourth quarter profit and closes 2022 with losses
Brazilian aircraft manufacturer Embraer announced Friday net profits of about USD 24 million in the fourth quarter of last year, although it closed 2022 with losses of USD 190 million.
Specifically, the world’s third-largest aircraft manufacturer after Airbus and Boeing posted a profit of 119.2 million reais (USD 23.8 million) between October and December and an annual loss of 953.6 million reais (USD 190.7 million).
The result for the fourth quarter of 2022 represented an improvement over the same period in 2021, when Embraer recorded a minimal profit of R$11.1 million (US$2.1 million at current exchange rates).
→ Embraer Bandeirante celebrates 50 years of operations
The Brazilian manufacturer’s earnings returned to green numbers after a loss of USD 30.2 million and USD 31.7 million in the third and first quarters, respectively, interrupted by a rebound of USD 74.2 million between April and June 2022.
Embraer, based in the state of São Paulo (southeast), delivered between October and last December 80 jets: 30 commercial and 50 executive aircraft.
For the full year, deliveries totaled 159, an increase of 12.7% over 2021, despite “significant supply chain constraints” affecting the entire aviation sector, the company detailed in a statement.
By 2023, Embraer expects to deliver at least 65 commercial and 120 executive aircraft, reported AFP.
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