Embraer has posted its Q2 financial results, revealing revenues of $1.92 billion, which is 80% higher than in Q1 and a 27% increase over Q2 2022. The Brazilian manufacturer also delivered 47 aircraft in Q2, marking a 47% increase on the same period last year.

Financial performance

Embraer's revenue grew 57% in its commercial aviation branch last year, while its executive aviation arm saw 42% year-on-year growth. Embraer's Defense & Security and Services & Support departments contributed an additional $82.4 million and $339.7 million in revenue, respectively. This put the manufacturer's total Adjusted EBIT for Q2 at $99.9 million, up from $81.2 million at the same point last year.

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Embraer is not the only manufacturer to see revenue growth in Q2 - last month, Boeing posted Q2 revenue figures in excess of $19.8 billion, highlighting a strong rebound from a series of setbacks, including the two Boeing 737 MAX crashes, the pandemic, and delivery delays with the Boeing 787.

Aircraft deliveries

Of the 47 aircraft delivered by Embraer in Q2, 17 were commercial aircraft, and the remaining 30 were executive jets. The commercial aircraft deliveries were made up of ten E175s and seven E195-E2s. These figures are up from eight and two, respectively, in the same period last year.

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The deliveries made in Q2 bring Embraer's total aircraft deliveries for 2023 so far up to 62 (24 commercial aircraft and 38 executive aircraft).

Outlook for Q3 and Q4

Embraer still has a significant number of commercial aircraft on order, which will boost its future delivery figures even further. American Airlines placed a firm order for seven E175 aircraft, which will be operated by its regional subsidiary Envoy Air.

Fellow oneworld member Royal Jordanian is awaiting delivery of four E190-E2s and four E195-E2s. Meanwhile, Scoot, the low-cost subsidiary of Singapore Airlines, is due to receive delivery of nine E190-E2s, which will spur the carrier's growth in the Asia-Pacific region.

Other airlines with outstanding E195-E2 orders include Binter Canarias, Porter Airlines, and Azul Linhas Aéreas, the aircraft's launch customer back in March 2017. With a longer fuselage and increased wingspan compared to its predecessor, the E195-E2 can carry up to 146 passengers, with the manufacturer claiming that operating costs are 22% lower than those of the Airbus A320neo.

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When it comes to executive jets, the outlook is equally positive. In Q2, Embraer announced a deal with NetJets for up to 250 Praetor 500 aircraft and a comprehensive service and support agreement worth over $5 billion.