Embraer's Q1 Losses Grow in 2019

Brazilian aerospace and defence manufacturer Embraer suffered first quarter losses for the second consecutive year in 2019, according to financial results published on 15 April. By the company's adjusted measure of earnings before interest and taxes (EBIT), losses of USD15.2 million were registered in the first three months of its financial year...

Brazilian aerospace and defence manufacturer Embraer suffered first quarter losses for the second consecutive year in 2019, according to financial results published on 15 April. By the company's adjusted measure of earnings before interest and taxes (EBIT), losses of USD15.2 million were registered in the first three months of its financial year compared with USD5.3 million in the same period in 2018.

Embraer's revenue performance was also weaker in the first quarter of 2019 with the company generating sales of USD823.3 million, which is a fall of 16.6% year on year.

Significant defence contract awards in the quarter included a sale of 12 A-29 Super Tucano light-attack aircraft to the Nigerian Air Force, which is to be delivered in partnership with Sierra Nevada Corporation.

Source: www.janes.com