São Paulo – Embraer, the Brazilian aircraft manufacturing company, reported net losses of BRL 387.7 million (USD 99.8 million at current exchange rates) in quarter three (Q3), 2015. In Q3 of last year, the company had posted BRL 24.3 million (USD 6.2 million) in losses. Adjusted net income (Income Tax and social contributions discounted) was BRL 255.1 million (USD 65.6 million), the company reported this Tuesday (27th).
In Q2 2015, Embraer had reported nearly BRL 400 million (USD 103 million) in net income. Q3 results have driven the year-to-date losses to BRL 184.2 million (USD 47.4 million).
Embraer also reported that it delivered 21 commercial and 30 executive jets. In the first nine months of 2015, it delivered 68 commercial and 75 executive jets.
In Q3, the company said it had a firm order backlog of 20 units of its current E-Jet generation, amounting to 146 firm orders overall so far this year. The firm order backlog stood at USD 22.8 billion in Q3, USD 22.9 billion in Q2 and USD 20.9 billion by the end of 2014.
Embraer results also show Q3 net income was BRL 4,577.3 million (USD 1,178.7 million), up 62% from Q3 2014.
*With information from the ANBA Newsroom. Translated by Gabriel Pomerancblum
