Planemaker Embraer reaffirms guidance as net loss narrows

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The company stuck to all aspects of its 2022 financial and deliveries guidance, noting that it still expects revenue to reach between $4.5 billion and $5 billion.

Full-year deliveries are projected at 100 to 110 executive jets and 60 to 70 commercial jets.

Embraer reported a first-quarter adjusted net loss of 428 million reais ($86.22 million), narrowing from a 522.9 million real loss in the same period last year.

The planemaker announced this month that it delivered a total of 14 jets in the first three months of 2022, down 36% from a year earlier.

Its consolidated gross margin, however, jumped to 20.3% from 9.5% a year ago, helping it offset lower than usual deliveries.

($1 = 4.9642 reais)