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Embraer (ERJ -15.9%) shares nosedive to a 10-month low after the Brazilian planemaker swung to a This autumn web revenue of 11.1M reais ($2.1M) from a 7.7M reais ($44.7M) web loss a 12 months earlier, however revenues fell 25% Y/Y to 7.3B reais, and steerage for FY 2022 adjusted EBITDA margin of 8%-9% was seen as a disappointment.
UBS analysts say This autumn outcomes had been “modestly under” its expectations and 2022 margin steerage “seems mild” in comparison with the agency’s estimate of 10.7%, in line with Bloomberg.
This autumn adjusted EBITDA fell 22% Y/Y to 609.4M reais, whereas adjusted EBITDA margin was 8.4%, “pushed by elevated operational effectivity and higher costs.”
For FY 2022, Embraer forecasts business jet deliveries of 60-70 plane and govt jet deliveries of 100-110 plane, excluding its Eve electrical plane subsidiary, with revenues of $4.5B-$5B; 2021 deliveries totaled 141 jets, comprising 48 business plane and 93 govt jets.
Embraer mentioned Wednesday it suspended components, upkeep and technical assist companies to some clients linked to sanctions imposed on Russia, however it mentioned it has no quick considerations over the provision of titanium.
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