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
- 2nd 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$11.3 billion in 2Q24 (+2% qoq). The main highlight of the period was the order for 20 E2 jets by Mexicana de Aviación – Mexico's state-owned airline. The order includes 10 E190-E2 jets and another 10 E195-E2 jets, with deliveries scheduled to start in 2Q25. Other highlights were the delivery and start of operations of the first E190-E2 to Scoot – the low-cost subsidiary of Singapore Airlines (SIA). Furthermore, Embraer reached another important milestone: the delivery of its 1,800th E-Jet in May. The marquee aircraft was delivered to the leasing company Azorra and it will be operated by Royal Jordanian Airlines.
2Q24 Backlog - Commercial Aviation | |||
Aircraft Type | Firm Orders | Deliveries | Firm Order Backlog |
E195-E2 | 282 | 100 | 182 |
E190-E2 | 44 | 23 | 21 |
E175 | 943 | 764 | 179 |
Total | 1,269 | 887 | 382 |
Executive Jets continued to seize great sales momentum in both fleet and retail markets, demonstrating solid delivery performance and maintaining a positive book-to-bill ratio. The backlog ended the period marginally up at US$ 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 2nd 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 1st 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 |
View original content:https://www.prnewswire.com/news-releases/embraer-increased-deliveries-88-quarter-on-quarter-in-2q24--and-backlog-totaled-us21-1bn--a-7-year-high-302201288.html
SOURCE Embraer S.A.
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