Embraer reports Q4 revenue $1.975B, consensus $2B.

Adjusted EBIT reached $181.7M in 4Q23, with adjusted EBIT and EBITDA margins of 9.2% and 12.8%. Embraer delivered 75 jets in 4Q23, of which 25 were commercial aircraft, 49 were executive jets (30 light and 19 medium) and 1 was a military C-390. In 2023, the company delivered a total of 181 jets, of which 64 were commercial aircraft, 115 were executive jets (74 light and 41 medium) and 2 were military C-390. Embraer’s deliveries increased 13% year-on-year (yoy) when compared to the 160 jets in 2022. The company continues to face supply chain delays which have negatively impacted 2023 results. Firm order backlog ended 4Q23 at $18.7B, the highest number recorded over the past 6 years. Executive and Commercial Aviation registered book-to-bill in excess of 1:1. Meanwhile, Services & Support backlog reached $3.1B – the highest ever registered