Embraer Earnings Results 1st Quarter 2019
SÃO PAULO, May 15, 2019
SÃO PAULO, May 15, 2019 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its First Quarter 2019 Earnings Results.
- Embraer delivered 11 commercial jets and 11 executive jets (8 light / 3 large) in 1Q19;
- The Company's firm order backlog at the end of 1Q19 was US$ 16 billion considering all deliveries as well as firm orders obtained during the period;
- EBIT and EBITDA in 1Q19 were US$ (15.2) million and US$ 30.9 million, respectively, yielding EBIT margin of -1.8% and EBITDA margin of 3.8%. This compares to EBIT of US$ (5.3) million (-0.6% EBIT margin) and EBITDA of US$ 57.8 million (6.0% EBITDA margin) in 1Q18;
- 1Q19 Net loss attributable to Embraer shareholders and Loss per ADS were US$ (42.5) million and US$ (0.23), respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 1Q19 was US$ (61.8) million, with Adjusted loss per ADS of US$ (0.34). Embraer reported adjusted net loss in 1Q18 of US$ (60.5) million, for an adjusted loss per ADS of US$ (0.33) in the quarter;
- Embraer reported Free cash flow of US$ (665.3) million in 1Q19, compared to free cash flow of US$ (435.2) million reported in 1Q18. The Company finished the quarter with total cash of US$ 2,483.4 million and total debt of US$ 3,587.1 million, yielding a net debt position of US$ 1,103.7 million versus net debt of US$ 439.9 million at the end of 2018;
- The Company's shareholders approved the proposed strategic partnership between Boeing and Embraer during an Extraordinary General Shareholders' Meeting on February 26, 2019. At the meeting, 96.8% of all valid votes were in favor of the transaction, with participation of roughly 67% of all outstanding shares;
- The closing of the transaction between Boeing and Embraer remains subject to obtaining regulatory approvals and the satisfaction of other customary closing conditions, expected by the end of 2019;
- The Company reaffirms all aspects of its 2019 financial and deliveries guidance.
MAIN FINANCIAL INDICATORS
in millions of U.S. dollars, except % and earnings per share data
EBIT margin %
Adjusted EBIT margin %
EBITDA margin %
Adjusted EBITDA margin %
Adjusted net income (Loss)
Adjusted earnings (losses) per share - ADS basic
Net income (loss) attributable to Embraer Shareholders
Earnings (losses) per share - ADS basic (US$)
Adjusted free cash flow
For additional information, please check the full document on our website ri.embraer.com.br
Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos, Paulo Ferreira and Viviane Pinheiro.
(+55 12) 3927 1000
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 1Q19 Results on Wednesday, May 15, 2019 at 10:30 AM (SP) / 9:30 AM (NY). The conference call will also be broadcast live over the web at ri.embraer.com.br
Conference ID: EMBRAER
Telephones USA / Canada: (Toll-free) +1 (844) 204-8942 / (Dial-in) +1 (412) 717-9627
Telephones U.K.: (Toll-free) 0-808-111-0152 / (Dial-in) +44 20 7442-5660
Telephones Brazil: +55 (11) 3193-1001 / +55 (11) 2820-4001
SOURCE Embraer S.A.