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Embraer (EMY) Q3 2026 Earnings Report

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DE:EMY Q3 2026 EPS Results

Actual EPS
EUR 0.36
Consensus EPS
EUR 0.73
Beat/Miss
Missed by -EUR 0.37
One Year Ago EPS
EUR 0.57

DE:EMY Q3 2026 Revenue Results

Actual Revenue
EUR 2.12B
Expected Revenue
EUR 1.99B
Beat/Miss
Beat by +EUR 132.23M
YoY Revenue Growth
+17.78%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/10/2026
Time
Before Open
Conference Call
Tuesday, November 10, 2026
DE:EMY Upcoming Earnings

Embraer's next earnings date is estimated for March 5, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:EMY Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 10, 2026|% Change Since:9.82%|
Earnings Call Sentiment|Positive

The call was strongly positive overall, with record revenue and backlog, broad-based growth across all business units, raised revenue and free cash flow guidance, improving balance-sheet strength and continued demand for Embraer's aircraft and services. Offsetting issues included lower adjusted net income, low Commercial Aviation margins, expected fourth-quarter Defense margin normalization, ongoing component shortages and uncertainty around certification and future product decisions. The highlights significantly outweighed the lowlights.

Company Guidance

For 2026, Embraer stands by guidance to deliver 80 to 85 aircraft in Commercial Aviation and 160 to 170 aircraft in Executive Aviation, with revenue guidance increased to between $8.4 billion to $8.6 billion, adjusted EBIT margin unchanged at between 10% and 10.6%, and adjusted free cash flow raised to $700 million or higher; Commercial Aviation is expected to reach a 5% EBIT until 2028, Services & Support margins can be better until the end of the decade, close to 17 to 18%, and Executive Aviation targets reaching 200 units in 2028, with CapEx in 2027, '28 expected to temporarily increase towards $500 million, $550 million before coming back to the regular level of $400 million; free cash flow to EBITDA is expected to be below 50% next year and, 2028 onwards, around this average, while Eve’s guidance is about $225 million, with a run rate close to $50 million, $55 million per quarter, full transition expected before year-end, 6 prototypes through the first half of '27, and the certification flight campaign starting in the mid-'27 and finishing in '28; OGMA revenue is expected to get up to $600 million by 2030.

  • Record Revenue and All-Time-High BacklogEmbraer delivered record third-quarter revenue of $2.3 billion, while consolidated net revenue reached $2.35 billion, up 17% year-over-year. Backlog reached a new all-time high of $35.7 billion for the eighth consecutive quarter, up 14% year-over-year.
  • Broad-Based Backlog GrowthAll four business units increased backlog year-over-year. Defense & Security led with 56% growth and a 2.9 book-to-bill ratio; Executive Aviation backlog grew 12% with a 1.4x book-to-bill ratio; Commercial Aviation grew 4%; and Services & Support increased 14%, with both maintaining book-to-bill ratios above 1x. The company also holds approximately $23 billion in options that could expand backlog to almost $60 billion if exercised.
  • Commercial Aviation Orders and Revenue GrowthFarnborough generated 28 firm E2 orders, and ANA ordered 8 additional aircraft. Commercial Aviation revenue increased 13% to $696 million, driven by higher volumes and prices. Management said E2 sales traction has strengthened since 2024 and expressed optimism about continued revenue and EBITDA recovery, targeting a 5% EBIT margin by 2028.
  • Executive Aviation Record Backlog and ProfitabilityExecutive Aviation reached a record backlog of $8.2 billion. Revenue increased 12% to $655 million, supported by higher prices and product mix, while adjusted EBIT reached $105 million with a 16% margin, approximately 130 basis points higher year-over-year excluding U.S. tariffs. Management sees opportunities for further profitability improvement from new versions, higher production levels and efficiency gains.
  • Defense and Services PerformanceDefense & Security revenue increased 22% to $341 million, with adjusted EBIT of $54 million and a 15.7% margin, driven by higher KC-390 volumes, customer mix and product stage. Services & Support revenue increased 30% to $638 million, while adjusted EBIT reached $108 million with a 17% margin, supported by operating leverage approximately 330 basis points above the prior year.
  • Improved Deliveries and Production LevelingThe company delivered 22 commercial jets and 41 Executive jets during the quarter, with total company deliveries up 6% year-over-year. Commercial Aviation deliveries increased 10%, while Executive Aviation deliveries were stable. Year-to-date Commercial deliveries represented 63% of the midpoint of full-year guidance, 5 percentage points above the five-year average, while Executive deliveries represented 70% of the midpoint, 10 percentage points above the five-year average.
  • Higher Revenue and Free Cash Flow GuidanceEmbraer raised 2026 revenue guidance to between $8.4 billion and $8.6 billion because of strong business performance. Adjusted free cash flow guidance was raised to $700 million or higher, supported by better operational performance, cash generation and customer predelivery payments. The company maintained its adjusted EBIT margin guidance of 10% to 10.6% and delivery guidance of 80 to 85 Commercial aircraft and 160 to 170 Executive aircraft.
  • Strong Operating ProfitabilityThird-quarter adjusted EBITDA was $370 million with a 13.5% margin, and adjusted EBIT was $255 million with a 10.9% margin versus 8.6% a year ago, or 9.4% excluding U.S. import tariffs. First-nine-month adjusted EBIT margin reached 10.7%, which was 4.2 percentage points above the five-year historical average.
  • Positive Cash Position and Balance Sheet ProgressAdjusted free cash flow excluding Eve was $628 million in the quarter, reflecting sales-related predelivery payments and stronger operating results. Embraer ended the quarter with a net cash position, while net cash to adjusted EBITDA excluding Eve improved to positive 0.4x from negative 0.5x a year ago. Average debt maturity was 8.7 years and average debt cost remained 5.1%.
  • Services Expansion and Long-Term Growth InitiativesServices & Support benefited from higher volumes, operating leverage and growth of the installed base. Management expects margins to remain close to 17% to 18% through the end of the decade, supported by OGMA's GTF engine ramp-up and the start of the Dallas facility. OGMA revenue was described as approximately $230 million to $240 million, with expectations to reach $600 million by 2030. Embraer is also investing in simulators, training, customer support and AI tools.
  • Eve eVTOL Program ProgressEve completed 73 flights and more than 3 hours of flight time. Following completion of hover flights, the program advanced to transition flights, with full transition expected before year-end. Eve plans to build 6 prototypes through the first half of 2027, begin the certification flight campaign in mid-2027 and finish it in 2028.
  • Continued Investment in Production and TechnologyEmbraer is investing to increase production of Phenoms, Praetors, E-Jets, Executive jets, KC-390s and Super Tucanos. To support a target of 200 Executive aircraft in 2028, the company expects 2027 and 2028 capital expenditures to temporarily increase toward $500 million to $550 million before returning to the regular level of approximately $400 million. The company is also continuing to invest in new technologies, product updates and a future product cycle.
  • Defense Market Expansion OpportunitiesColombia ordered 2 KC-390s, Greece joined the KC-390 family with an order for 3 aircraft and options for 3 more, and Embraer advanced its partnership with Mahindra, including plans for a local assembly line in India. Management identified potential India demand of between 60 and 90 aircraft and continued to pursue the U.S. Air Force opportunity, including development of an agile tanker with Northrop Grumman.
  • Resilient Demand Despite Fuel PricesManagement said it had not seen delays in deliveries or sales campaigns because of higher fuel prices. The company described the E2 as a fuel-efficient alternative that can help airlines add frequency or open new routes, while Executive Aviation demand was said to depend more on wealth creation than fuel prices.
  • Shareholder Distribution and ADS Ratio ChangeEmbraer declared BRL 154 million in interest on equity during the quarter, or BRL 0.22 per share and approximately $0.17 per ADS. Total 2026 interest on equity reached BRL 354 million, representing a dividend yield of around 0.52% based on the quarter-end share price. In November, the ADS ratio will change from 4 common shares per ADS to 1 common share per ADS, with no impact on underlying equity value.

DE:EMY Earnings History

DE:EMY earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 05, 20272026 (Q4)0.97-0.41――
Nov 10, 20262026 (Q3)0.730.360.57-37.42% (-0.22)
Aug 10, 20262026 (Q2)0.561.070.39177.57% (+0.69)
May 08, 20262026 (Q1)0.220.170.36-53.50% (-0.19)
Mar 05, 20262025 (Q4)0.710.410.2283.47% (+0.19)
Nov 04, 20252025 (Q3)0.420.571.09-47.13% (-0.51)
Aug 05, 20252025 (Q2)0.390.390.49-20.89% (-0.10)
May 06, 20252025 (Q1)-0.010.360.14150.00% (+0.22)
Feb 27, 20252024 (Q4)0.450.220.95-76.36% (-0.72)
Nov 08, 20242024 (Q3)0.251.090.3263.44% (+0.79)

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