In This Article:
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Commercial deliveries soared circa 170% sequentially while Executive Jets grew 50%
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US$21.1 bn company wide backlog up more than 20% annually
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20 E2 jets order from Mexicana de Aviación
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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.