Embraer increased deliveries 88% quarter on quarter in 2Q24 and backlog totaled US$21.1bn - a 7-year high
-- Commercial deliveries soared circa 170% sequentially while Executive
Jets grew 50%
-- US$21.1 bn company wide backlog up more than 20% annually
-- 20 E2 jets order from Mexicana de Aviación
-- 2(nd) C-390 Millennium aircraft delivered to Portugal
SÃO PAULO, July 18, 2024 /PRNewswire/ -- Embraer (NYSE: ERJ; B3: EMBR3) delivered 47 jets in 2Q24, an 88% increase compared to the previous quarter (qoq), when 25 jets were delivered. The company's overall backlog ended at US$21.1 billion, more than 20% higher annually (yoy) and a 7-year high. Commercial Aviation was the highlight of the quarter with 19 jets deliveries - or circa 170% more qoq (7 jets in 1Q24). Meanwhile, Executive Jets delivered a solid performance with 27 aircraft (18 in 1Q24) while Defense delivered one multi-mission airlift C-390 Millennium.
Deliveries by Segment 2Q24 1Q24 2Q23 1H24 1H23 2024
Guidance
Executive Aviation 27 18 30 45 38 125-135
Phenom 100 2 1 1 3 3
Phenom 300 18 10 18 28 22
Light Jets 20 11 19 31 25
Praetor 500 3 3 6 6 6
Praetor 600 4 4 5 8 7
Medium Jets 7 7 11 14 13
Commercial Aviation 19 7 17 26 24 72-80
E195-E2 7 4 7 11 12
E190-E2 4 4
E175 8 3 10 11 12
Total 46 25 47 71 62 197-215*
Defense & Security 1 1 1 1
C-390 Millennium 1 1 1 1
The company wide backlog reached US$21.1 billion in 2Q24 (or more than 20% higher yoy and marginally higher qoq). The biggest increase happened in Commercial Aviation (+US$227 million) while the biggest decreased occurred in Defense & Security (-US$251 million). The backlog for the other two businesses units increased marginally (+US$45 million).
Backlog by Segment - US$bn 2Q24 1Q24 qoq 2Q23 yoy
Commercial Aviation 11.3 11.1 2 % 8.0 40 %
Executive Jets 4.6 4.6 1 % 4.3 8 %
Services & Support 3.1 3.1 0 % 2.7 16 %
Defense & Security 2.1 2.4 -10 % 2.3 -5 %
Total 21.1 21.1 0 % 17.3 22 %
In Commercial Aviation, the backlog reached US$11.3 billion in 2Q24 (+2% qoq). The main highlight of the period was the order for 20 E2 jets by Mexicana de Aviación - Mexico's state-owned airline. The order includes 10 E190-E2 jets and another 10 E195-E2 jets, with deliveries scheduled to start in 2Q25. Other highlights were the delivery and start of operations of the first E190-E2 to Scoot - the low-cost subsidiary of Singapore Airlines (SIA). Furthermore, Embraer reached another important milestone: the delivery of its 1,800(th) E-Jet in May. The marquee aircraft was delivered to the leasing company Azorra and it will be operated by Royal Jordanian Airlines.
2Q24 Backlog - Commercial Aviation
Aircraft
Type Firm Orders Deliveries Firm Order Backlog
E195-E2 282 100 182
E190-E2 44 23 21
E175 943 764 179
Total 1,269 887 382
Executive Jets continued to seize great sales momentum in both fleet and retail markets, demonstrating solid delivery performance and maintaining a positive book-to-bill ratio. The backlog ended the period marginally up at US$ 4.6 billion in 2Q24 (+1% qoq).
The Services & Support unit continues to be one of the main drivers of Embraer's growth through a combination of operational excellence, customer experience and innovative solutions. Its backlog ended 2Q24 roughly unchanged at US$3.1 billion.
In Defense & Security, the highlight was the delivery of the 2(nd) C-390 Millennium to the Portuguese Air Force (FAP), in a ceremony held in Gavião Peixoto (SP), Brazil. In 2019, FAP ordered 5 KC-390s, including a comprehensive services and support package and a flight simulator. The 1(st) aircraft entered service in October 2023 at Beja Air Base. The selection of the C-390 by some countries in Europe has not yet been incorporated into the backlog, which represents a significant source of potential growth for the coming quarters. The backlog in Defense & Security decreased 10% qoq and reached US$2.1 billion in 2Q24.
Commercial Aviation aircraft backlog:
Customer (Country) Firm Orders Delivered Firm Order Backlog
Embraer 195-E2 282 100 182
Azul (Brazil) 51 51
Porter (Canada) 75 36 39
Aercap (Ireland) 45 19 26
Azorra (USA) 23 5 18
Mexicana (Mexico) 10 10
Aircastle (USA) 23 14 9
Air Peace (Nigeria) 13 5 8
Binter Canarias (Spain) 16 10 6
Salam Air (Oman) 6 6
Luxair (Luxembourg) 4 4
ICBC (China) 10 7 3
Royal Jordanian (Jordanian) 2 2
Helvetic (Switzerland) 4 4
Customer (Country) Firm Orders Delivered Firm Order Backlog
Embraer 190-E2 44 23 21
Mexicana (Mexico) 10 10
Azorra (USA) 12 4 8
Aircastle (USA) 2 2
Air Kiribati (Kiribati) 2 1 1
Aercap (Ireland) 5 5
Helvetic (Switzerland) 8 8
Wideroe (Norway) 3 3
Placar Linhas Aéreas (Brazil) 1 1
Undisclosed 1 1
Customer (Country) Firm Orders Delivered Firm Order Backlog
EMBRAER 175 943 764 179
American Airlines (USA) 204 108 96
Republic Airlines (USA) 187 141 46
Skywest (USA) 228 207 21
Horizon Air / Alaska (USA) 50 44 6
Air Peace (Nigeria) 5 5
Undisclosed 4 4
Overland Airways (Nigeria) 3 2 1
Air Canada (Canada) 15 15
Air Lease (USA) 8 8
Alitalia (Italy) 2 2
Belavia (Belarus) 1 1
CIT (USA) 4 4
ECC Leasing (Ireland)* 1 1
Flybe (UK) 11 11
Fuji Dream (Japan) 2 2
GECAS (USA) 5 5
KLM (The Netherlands) 17 17
LOT Polish (Poland) 12 12
Mauritania Airlines (Mauritania) 2 2
Mesa (USA) 7 7
NAC / Aldus (Ireland) 2 2
NAC / Jetscape (USA) 4 4
Northwest (USA) 36 36
Oman Air (Oman) 5 5
Royal Jordanian (Jordan) 2 2
Suzuyo (Japan) 11 11
TRIP (Brazil) 5 5
United Airlines (USA) 110 110
* Aircraft delivered by ECC Leasing: one to Air Caraibes
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SOURCE Embraer S.A.
