Embraer closed 2024 with record-high revenues, significant growth across its business segments, and strong financial performance. The company reported total revenues of
$6.395 billion for the year, marking a
21% year-over-year (YoY) increase and reaching the upper end of its guidance. Notably, revenues from the
Defense & Security segment surged by
40% YoY.
In the fourth quarter of 2024 (4Q24),
revenues totaled $2.311 billion, while
adjusted EBIT stood at
$265.1 million, with an
11.5% margin. For the full year,
adjusted EBIT reached $708.2 million, corresponding to an
11.1% margin, exceeding expectations. Excluding Boeing-related items, adjusted EBIT was
$558.2 million with an
8.7% margin.
The company also reported
strong cash flow generation, with
adjusted free cash flow (excluding Eve) at $995.5 million in 4Q24 and
$675.6 million for the full year. This performance was supported by higher aircraft deliveries, strong sales performance (including pre-downpayments), and the Boeing arbitration settlement.
Embraer ended 2024 with a
net debt position of $110.7 million (excluding Eve) and a
0.1x net debt-to-EBITDA ratio, a sharp decline from
1.4x in 2023. Reflecting this improved financial position,
Moody’s upgraded Embraer’s credit rating to “Baa3”, classifying it as
Investment Grade alongside ratings from the other two major U.S. agencies.
Record Deliveries and Backlog Growth
In
4Q24, Embraer delivered
75 aircraft, consisting of
31 commercial jets (20 E2s and 11 E1s) and
44 executive jets (22 light and 22 medium). Over the full year, the company delivered
206 aircraft, marking a
14% YoY increase:
73 commercial jets (47 E2s and 26 E1s)
130 executive jets (75 light and 55 medium)
3 multi-mission C-390 Millennium aircraft for Defense & Security
These figures were in line with guidance for both Commercial and Executive Aviation. Additionally, Embraer closed 2024 with a
record-high firm order backlog of $26.3 billion, representing a
40% YoY increase and
16% growth quarter over quarter (QoQ).
2025 Outlook
Looking ahead, Embraer has set ambitious
guidance for 2025, expecting:
Commercial Aviation deliveries:
77–85 aircraft
Executive Aviation deliveries:
145–155 aircraft
Total revenues:
$7.0–$7.5 billion
Adjusted EBIT margin:
7.5%–8.3%
Adjusted free cash flow:
$200 million or higher
With robust financials, a growing backlog, and an upgraded credit rating, Embraer enters 2025 on strong footing, positioning itself for continued expansion across its business segments.
