Embraer Reports 67% Increase in Jet Deliveries for First Quarter of 2024

Embraer has announced a significant 67% increase in its jet deliveries for the first quarter of 2024, delivering 25 aircraft compared to 15 in the same period last year. This marks the highest number of deliveries for the first quarter in the last eight years, showcasing a robust growth in the company’s Executive Aviation sector which soared from eight to 18 jets.

Despite the growth in executive jets, Commercial Aviation deliveries remained stable year-over-year with seven aircraft. Embraer’s overall delivery count for the quarter represents 12% of the total aircraft forecasted in the mid-point of the current year’s guidance for both Executive and Commercial Aviation sectors (25 out of 206).

The company is actively implementing a Production Levelling plan aimed at mitigating business seasonality, with a goal to stabilize production throughout the calendar year in the near to medium-term future.

Significantly, Embraer’s backlog has increased by $2.4 billion or 13% sequentially to $21.1 billion in 1Q24, from $18.7 billion at the end of 4Q23. The most substantial growth was seen in Commercial Aviation, with an increase of $2.3 billion or 26%, while Defense & Security saw a slight decline.

The Executive Aviation segment continues to demonstrate strong sales momentum with sustained demand across its entire product portfolio. The delivery numbers in the light jets segment rose by 83% year-over-year, and more than tripled in the medium jets category compared to 1Q23, resulting in a backlog of $4.6 billion for Executive Aviation by the end of 1Q24.

In Defense and Security, notable achievements include the successful maiden flight of the first C-390 Millennium aircraft for the Hungarian Air Force and the hosting of the first Embraer Defense Day in the United States. The Defense & Security backlog stood at $2.4 billion, down 4% sequentially.

Services & Support remains a key growth driver for Embraer, maintaining a stable backlog of $3.1 billion. The Commercial Aviation sector reported a backlog of $11.1 billion, boosted by a significant deal with American Airlines for 90 E175s, with options for an additional 43 jets, and the delivery of one E195-E2 to Azorra for operation under the Royal Jordanian flag.

Embraer’s first quarter performance highlights its resilience and strategic positioning to meet the demands of both the commercial and defense aviation markets worldwide.