What guidance did Embraer's management provide for the next earnings period?

What is Embraer's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Embraer year over year?

What factors drove the changes in Embraer's revenue and profit?

What is Embraer's gross profit margin?

Did Embraer beat or miss consensus estimates last quarter?

What does Embraer do and what are its main business segments?

What were the key takeaways from Embraer's earnings call?

- **Revenue Growth**: 18% YoY to $7.6 billion, driven by Commercial (7%), Executive (25%), and Defense (36%) segments.
- **E2 Dominance**: 157 new E2 orders (+140 options), 2.8:1 book-to-bill ratio, and $14.5 billion Commercial Aviation backlog.
- **Free Cash Flow**: $491 million in 2025, targeting $200+ million in 2026 (50% of EBITDA).
- **Tariff Relief**: U.S. tariffs exempt since Feb 2024, with $80 million+ benefits expected in 2026.
- **Strategic Wins**: India KC-390 RFP, U.S. KC-390 boom system, and 2026 delivery guidance of 80-85 Commercial jets.
- **Margin Expansion**: 11.7% adjusted EBITDA margin in 2025, targeting 8.7-9.3% in 2026.

**【CEO Summary Section】**
- **2025 Performance Highlights**: Revenue grew 18% YoY to $7.6 billion, driven by Commercial Aviation (7% growth), Executive Aviation (25% growth), and Defense & Security (36% growth). Adjusted EBITDA margin improved to 11.7%, excluding one-time Boeing impact.
- **E2 Program Success**: 157 new E2 orders (+140 options) and 64 E1 orders (+68 options), with a 2.8:1 book-to-bill ratio. Executive Aviation backlog reached $7.6 billion.
- **Strategic Partnerships**: Discussions with India (MTA, Adani Group) and U.S. (Northrop Grumman) for defense and civil aviation opportunities. KC-390 boom refueling system development underway.
- **Operational Efficiency**: AI and digitalization initiatives reduced costs, with 2026 deliveries expected to meet mid-high guidance range (80-85 Commercial, 160-170 Executive jets).

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Revenue $2.9 billion (15% YoY), adjusted EBITDA $298 million (11.3% margin). Full-year adjusted EBITDA $889 million (11.7% margin). Free cash flow $491 million (60% of EBITDA).
- **Tariff Impact**: $54 million paid in 2025, with $25 million in inventory impacts. 2026 guidance excludes tariffs, but $80 million+ benefits expected if maintained.
- **2026 Guidance**: Revenue $8.2-8.5 billion (10% growth), EBIT margin 8.7-9.3%, free cash flow $200+ million. Commercial Aviation deliveries 80-85 jets, Executive 160-170 jets.
- **Balance Sheet**: Net cash $109 million, 96% long-term debt, 5.5% cost of debt. Share buyback program to hedge equity swaps.

**【Q&A Highlights】**
- **Supply Chain**: 2026 improvements expected, with focus on production bottlenecks and AI tools. Defense orders and service contracts boosted Q4 cash flow.
- **Tariff Update**: U.S. tariffs exempt as of Feb 2024, but $80 million+ paid in 2025. 2026 guidance assumes no tariffs, but upside if maintained.
- **Defense Growth**: India KC-390 RFP expected, with 60-80 aircraft potential. U.S. KC-390 boom system testing underway.
- **Eve Progress**: EV100 prototype flew 28 missions, targeting 2027 certification. Defense applications for eVTOLs under exploration.
- **Margins**: Service & Support EBIT margin 15-16% in 2026, targeting 20%+ long-term. Commercial Aviation to improve to mid-single digits.


Embraer S.A. (EMBJ) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Q3 revenue up 18% to $2B, driven by Commercial (+31%) and Executive (+4%) segments. Backlog surges to $31.3B.
- **Margin Expansion**: Adjusted EBIT margin 8.6% (Q3), despite $17M tariff impact. Full-year margin guidance 7.5-8.3%.
- **Operational Efficiency**: 16% delivery increase, 40% Praetor production time reduction, and 12% cost savings via lean initiatives.
- **Strategic Investments**: $33M in R&D, new MRO facility in Dallas, and Eve's test flight planned for late 2025.
- **Risk Factors**: U.S. tariffs (~$35M Q4 impact) and supply chain execution risks for Q4 deliveries.
- **Shareholder Returns**: Buybacks under consideration post-dividend resumption; 2026 dividend declared at BRL 0.28 per share.

**【CEO Summary Section】**
- **Commercial Aviation**: 50 E195-E2s ordered by Avelo (with 50 options) and 24 by LATAM (with 50 options), driving a 31% revenue increase and a 2.7:1 book-to-bill ratio. Backlog reached $15.2 billion.
- **Executive Aviation**: Record Q3 revenue of $580M, 2,000th business jet delivered, and a 2.4:1 book-to-bill ratio. Backlog stands at $7.3 billion.
- **Defense & Security**: Portugal orders 6 KC-390s with 10 options, and new A-29 Super Tucano agreements with Panama and Sierra Nevada. Backlog is $3.9 billion with a 1.3:1 ratio.
- **Services & Support**: 16% revenue growth and a 1.8:1 book-to-bill ratio. New MRO facility in Dallas and Starlink connectivity solutions launched.
- **Operational Efficiency**: 800+ Kaizen projects, 16% delivery increase, and 12% cost reduction via zero-defect methodology. Production lead time reduced by 40% for Praetor, 33% for KC-390, and 27% for E-Jets.

**【CFO Financial Commentary】**
- **Revenue & Profitability**: Q3 revenue $2B (18% YoY), adjusted EBITDA $236M (11.8% margin). Full-year guidance: 77-85 Commercial deliveries, 145-155 Executive deliveries, $7-7.5B revenue, 7.5-8.3% EBIT margin, and >$200M free cash flow.
- **Liquidity**: Net debt reduced to $439M (0.5x debt-to-EBITDA ratio), with $1B 12-year bond issued at 5.4% coupon. Targeting net cash position by year-end.
- **Margins & Costs**: Adjusted EBIT margin 8.6% (Q3), impacted by $17M tariffs. U.S. import tariffs expected to weigh on Q4 margins.
- **Free Cash Flow**: $300M generated in Q3, supported by EBITDA and lower receivables. R&D investment $33M year-to-date.

**【Q&A Highlights】**
- **Tariffs & Share Buybacks**: CFO considers buybacks post-dividend resumption but cautious on additional dividends. U.S. tariffs expected to impact Q4 margins (~$35M remaining).
- **Engine Retrofit**: American Airlines' E175-E2 retrofit program expandable to other airlines, with new MRO facility in Dallas.
- **KC-390 in India**: Negotiations progressing, with 50% local content requirement. Collaboration with Mahindra for marketing and production.
- **Future Expansion**: Investing in new technologies (electric/hybrid propulsion) for potential larger aircraft, with no timeline for decision.
- **Eve Progress**: First full-scale E2 test flight planned for late 2025/early 2026.


Embraer S.A. (EMBJ) Q3 2025 Earnings Call Transcript

- **Record Q2 Performance**: $1.8 billion revenue (22% YoY), 10.5% EBIT margin, and $29.7 billion backlog highlight Embraer's strong execution.
- **Tariff Impact Management**: 20% of $65 million annual tariff cost realized in Q2, with remaining impact in Q3/Q4. Advocating for 0% tariffs citing $8 billion U.S. trade surplus.
- **Defense Growth**: KC-390 orders from Portugal and Lithuania drive 3.6x book-to-bill in Defense, with A29 Super Tucano volumes boosting margins to 9.2%.
- **Eve Milestone**: First test flight in December 2025 and binding order with Revo for 10 vehicles, signaling progress in electric aviation.
- **Strategic Investments**: $90 million for Executive Aviation expansion in the U.S. and KC-390 localization plans to support long-term growth.

**【CEO Summary Section】**
- Embraer reported record Q2 revenue of $1.8 billion, up 22% year-over-year, driven by strong demand across all segments. Adjusted EBIT margin reached 10.5%, the highest for a second quarter in a decade.
- Commercial Aviation delivered 19 aircraft, with SAS ordering 45 E195-E2s and SkyWest purchasing 60 E175s. Executive Aviation revenue surged 64%, supported by higher volumes and product mix.
- Defense & Security saw Portugal confirm its sixth KC-390 purchase, and Lithuania becoming the seventh NATO country to select the aircraft. Service & Support signed 8 new pool contracts and launched full-flight simulator partnerships.
- U.S. tariffs remain a concern, with a 10% impact currently, but Embraer is advocating for a return to 0% tariffs, citing $8 billion trade surplus and 13,000 U.S. jobs supported.

**【CFO Financial Commentary】**
- Q2 adjusted EBITDA was $246 million, with a 13.5% margin, and free cash flow consumption of $162 million due to working capital buildup for future deliveries.
- Backlog reached $29.7 billion, up 40% year-over-year, with Commercial Aviation at $13.1 billion and Executive Aviation at $7.4 billion.
- Tariffs impacted 20% of the expected $65 million annual cost in Q2, with the remaining 80% expected in Q3 and Q4. FX volatility and inflation also pose risks to the second-half outlook.

**【Q&A Highlights】**
- **Tariff Impact**: CFO noted 20% of the $65 million annual tariff impact was realized in Q2, with the rest expected in Q3/Q4. CEO emphasized Embraer's economic value to the U.S. ($8 billion trade surplus, 13,000 jobs) to advocate for 0% tariffs.
- **Defense Segment**: CFO highlighted Defense margins improving to 9.2% due to A29 Super Tucano volumes and KC-390 customer mix. KC-390 production efficiency gains (double-digit increases in output and cost reduction) are driving margin expansion.
- **Eve Progress**: First binding order with Revo for 10 vehicles and 40 options, with the first test flight scheduled for December 2025.
- **Production Initiatives**: $90 million investment in Melbourne, Florida, for Executive Aviation expansion, and $70 million for Services & Support in Texas. KC-390 localization in Poland contingent on orders.
- **Tariff Negotiations**: CEO stated Embraer is in advanced talks with a U.S. partner for KC-390 localization, with $500 million in potential U.S. investments and 2,500 new jobs.


Embraer S.A. (ERJ) Q2 2025 Earnings Call Transcript

- **Record Q1 Performance**: $1.1B revenue (22% YoY), 9.8% EBITDA margin, and $26.4B backlog reflect operational excellence.
- **Backlog Growth**: Executive Aviation (+65%) and Defense (+73%) drive record order intake.
- **Tariff Mitigation**: 57% U.S. content in KC-390 limits Defense impact; 90bp EBITDA margin drag expected, but 30% U.S. content in aircraft reduces exposure.
- **Production Efficiency**: 30% YoY delivery growth and 15% midpoint of annual target achieved in Q1.
- **Dividend Resumption**: Regular dividend payments signal improved financial health.
- **Debt Optimization**: 6.3-year debt duration and $650M 10-year bond issuance reduce refinancing risk.


**【CEO Summary Section】**
- Q1 2025 revenue reached $1.1 billion, the highest first-quarter figure in 90 years, with a 22% year-over-year increase.
- Adjusted EBITDA margin of 9.8%, the highest in five years, driven by operational efficiency improvements.
- Backlog of $26.4 billion, up 25% year-over-year, with strong contributions from Executive Aviation ($7.6B) and Defense & Security ($4.2B).
- Resumed dividend payments and reaffirmed 2025 guidance for double-digit growth in deliveries and revenue.
- Production leveling initiatives began to show results, with aircraft deliveries up 30% YoY.
- U.S. tariffs estimated to impact EBITDA margin by 90 basis points, but partially mitigated by 57% U.S. content in aircraft.

**【CFO Financial Commentary】**
- Delivered 30 aircraft (23 in Executive Aviation, 7 in Commercial), 20% higher than Q1 2024.
- Adjusted EBITDA of $109 million ($9.8M margin), up from $7 million (0.8%) in Q1 2024.
- Free cash flow consumption of $386 million due to inventory build-up for future deliveries.
- Net debt reduced by $508 million over 12 months, with financial leverage at 0.5x EBITDA.
- Issued $650 million 10-year bond to extend debt duration to 6.3 years.
- Shareholder remuneration of R$51 million for FY2024, with 2025 dividends to be determined post-tax benefits.

**【Q&A Highlights】**
- **Tariff Mitigation**: 30% of U.S. content in aircraft reduces tariff impact; 90bp EBITDA margin drag expected, but 57% U.S. content in KC-390 mitigates Defense exposure.
- **KC-390 Expansion**: India pipeline for 40-80 aircraft; Poland exploring KC-390 and E2s; Saudi Arabia and Turkey in advanced discussions.
- **Production Challenges**: Fuselage parts and engine delays remain bottlenecks, but production leveling shows progress (e.g., 15% midpoint of annual delivery target achieved in Q1).
- **E2 Growth**: ANA's 15 E190-E2 order (pending Q2 backlog inclusion) and Helvetic Airways' E195-E2 London City Airport launch highlight global momentum.
- **Liquidity**: $38M R&D investment, $37M CapEx, and $30M Pool Program allocation support long-term growth.
- **Tariff Impact on Sales**: No commercial setbacks yet; U.S. customers absorbing tariffs in pricing due to aircraft's U.S. content advantage.


Embraer S.A. (ERJ) Q1 2025 Earnings Conference Call Transcript

- **Revenue Record**: 2024 revenue of $6.4B (+20% YoY) with $26.3B backlog, driven by 2.2x book-to-bill across all segments.
- **Executive Aviation Surge**: $7B Flexjet deal propels 25% revenue growth and 62% EBIT jump, with $7.4B backlog.
- **Defense Dominance**: KC-390 orders boost defense revenue 40% YoY, A-29 Super Tucano wins 29 new contracts.
- **Financial Strength**: Net debt near zero, investment-grade ratings, and first dividend planned for 2025.
- **2025 Outlook**: $7-7.5B revenue target, 7.5%-8.3% EBIT margin, and $200+M free cash flow.
- **EVE Milestone**: $300M invested, seeking $400M more for certification, with first flight in 2025.


**【CEO Summary Section】**
- **Record Revenue and Backlog Growth**: 2024 revenue reached $6.4 billion, up 20% YoY, with a record backlog of $26.3 billion. The book-to-bill ratio was 2.2x across all segments.
- **Executive Aviation Dominance**: Signed a $7 billion Flexjet contract for 182 Phenom 300 jets, driving a 25% revenue increase and 62% EBIT growth. Backlog rose to $7.4 billion with a 2.7x book-to-bill ratio.
- **Defense & Security Expansion**: KC-390 Millennium orders from Austria, Czech Republic, and Sweden boosted defense revenue by 40% YoY. A-29 Super Tucano orders reached 29 units, pushing EBIT up 57%.
- **Financial Milestones**: Net debt reduced to $111 million (0.1x net debt/EBITDA), achieving investment-grade ratings. First dividend payout planned for 2025 after eliminating accumulated losses.

**【CFO Financial Commentary】**
- **Q4 2024 Financials**: Adjusted EBIT of $328 million (14% margin), free cash flow of $996 million, and net income of $173 million. Full-year EBITDA was $922 million, exceeding guidance.
- **2025 Guidance**: 
  - **Revenue**: $7-7.5 billion (13% YoY growth)
  - **EBIT Margin**: 7.5%-8.3% (midpoint +10% YoY)
  - **Free Cash Flow**: $200+ million, targeting 50% EBITDA conversion over 2024-2025.
- **Supply Chain Management**: Invested $428 million in R&D and CapEx, focusing on production linearity and AI tools to mitigate bottlenecks.

**【Q&A Highlights】**
- **EBIT Margin Outlook**: 2025 guidance reflects cautious assumptions but mid-term margin expansion expected through defense and executive aviation growth.
- **E2 Jet Strategy**: Postponed E175-E2 U.S. certification due to scope clause challenges, but exploring international markets for E190-E2.
- **EVE Progress**: $300 million invested, seeking $400 million more for certification. First flight scheduled for 2025.
- **Dividend Policy**: Shareholders to approve first dividend in 2025, with 25% of net profit allocated annually.


Actual										-1.5867	-1.71	-0.6585	-0.02	-0.506	0.4785	-0.245	0.01	-0.1726	0.4	-0.16	0.1247	-0.3855	-0.1	0.3311	1.0487	0.16	0.5412	1.2031	0.2483	0.3997	0.4283	0.6355	0.1137
Forecast										-0.3709	-0.4179	-0.4597	-0.3021	-0.3752	-0.2519	-0.1369	0.0608	-0.215	-0.07	0.09	0.3324	-0.02	0.1882	0.24	0.7162	-0.1705	0.2157	0.282	0.4938	-0.0116	0.426	0.4621	0.7813
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-327.80%	-309.19%	-43.25%	+93.38%	-34.86%	+289.96%	-78.96%	-83.55%	+19.72%	+671.43%	-277.78%	-62.48%	-1827.50%	-153.13%	+37.96%	+46.43%	+193.84%	+150.90%	+326.63%	-49.72%	+3545.69%	+0.54%	+37.52%	-85.45%

EMBJ

EMBJ fundamentals

EMBJ Q4 2025 Earnings

Earnings Call

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EMBJ

EMBJ fundamentals

EMBJ Q4 2025 Earnings

Earnings Call

EMBJ Earnings Call Summary for Q4/20257:00 AM on Mar 6, 2026

EMBJ Earnings Call Summary for Q3/20257:00 AM on Nov 4, 2025

EMBJ Earnings Call Summary for Q2/20258:00 AM on Aug 5, 2025

EMBJ Earnings Call Summary for Q1/20258:00 AM on May 6, 2025

EMBJ Earnings Call Summary for Q4/20247:00 AM on Feb 27, 2025

You can ask Aime