Story ID: 
Embraer Sees Revenue Growth In Q2
By: Curt Epstein
Caption: Shipments boost Embraer's bottom line
Word Count: 204
Embraer’s second-quarter 2023 revenues reached $1.292 billion, representing a 27 percent year-over-year boost and an 80 percent jump from its first-quarter results, the Brazilian manufacturer reported today. The company attributed the increases to higher delivery volumes in commercial and executive aviation. Deliveries were up 47 percent overall in the quarter.
Revenues for the Embraer Executive Jet division were $378 million, 42 percent higher than the second quarter of 2022. Gross margin in the second quarter was down slightly from 22.1 percent last year but still stood at 19.8 percent.
Embraer’s private jet sales continue to rise with a book-to-bill of 2:1 and an order backlog of $4.3 billion. This was up from $ 4.1 billion at the end of March. This past quarter, it announced a deal with NetJets for up to 250 Praetor 500 jets along with a comprehensive services and support agreement, which represents a potential total value of more than $5 billion.
The airframer’s services and support division has an order backlog of $2.7 billion. It reported revenues of $339.7 million for the quarter, representing a year-over-year growth of 6 percent, and the company noted that its FBO in Sorocaba was recognized as the best FBO in Brazil for the fifth consecutive year, according to the AIN FBO Survey 2023.