The Brazilian plane maker Embraer posted stronger-than-expected deliveries at the weekend, fuelleing expectations of solid fourth-quarter results.
The world’s third-largest commercial aircraft manufacturer reported delivering 32 commercial jets and 43 executive jets in the final three months of last year, meeting targets for the full year.
According to the Banco BTG Pactual analysts Renato Mimica and Samuel Alves, the mix of deliveries skewed toward larger, more profitable planes came in higher than they had expected.
“Following strong deliveries with a favourable mix, we expect fourth-quarter results to be robust in terms of profitability – the best quarter of the year, also boosted by positive seasonality,” they said.
Still, Embraer’s firm order backlog fell to US$19.6 billion at the end of December from $21.4bn in September.
Embraer also added an order for three next-generation E190 aircraft for an undisclosed customer to this year’s backlog.
Itau BBA analysts said a stronger make-up of the backlog was more important than the headline drop, citing the transfer of 24 orders from the regional operator Republic Airways Holdings Inc to United Airlines.
Embraer also added an order for three next-generation E190 aircraft for an undisclosed customer to this year’s backlog.
* Reuters
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