Embraer’s executive jet deliveries remained flat in the first three months, matching the eight handed over in first-quarter 2022, the company affirmed today as it released its first-quarter earnings report.
Similar to a year earlier, Embraer handed over six Phenom light jets and two midsize Praetors during the quarter. However, at the same time, Embraer’s executive jets unit brought in $87.1 million in revenues, a 3 percent year-over-year slidethat the Brazilian airframer attributed to the mix of light-jet deliveries.
Meanwhile, Embraer remained encouraged by the market in the first quarter, saying that customer orders for new aircraft have exceeded expectations. Backlog for its executive jets nudged up to $4.1 billion at the end of the first quarter, compared with $3.9 billion at the end of 2022 and $2.9 billion at the end of 2021.
Embraer further noted its book-to-bill ratio remained above 2.5:1, an industry high watermark, and added, “Growth in the light and midsize business jet segments has continued into this year, and Embraer is well positioned to capitalize on this growth.”
While executive jets revenues softened in the quarter, Embraer’s commercial aviation unit handed over seven airliners, one more than a year ago. The mix also trended toward the larger E195-E2 model, with five delivered, compared with two in first-quarter 2022. Embraer also delivered two of the smaller E175s versus four a year earlier.
Commercial aviation revenues were up by nearly $30 million in the quarter, to $198.8 million. Even so, the manufacturer saw its net loss widen to $88.9 million, an increase from a $75.3 million loss a year earlier.