Embraer Earnings Results 1st Quarter 2019
PR Newswire
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.
HIGHLIGHTS
- 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 | |||
IFRS | 1Q18 | 4Q18 | 1Q19 |
Revenue | 960.3 | 1,697.6 | 823.3 |
EBIT | (5.3) | 6.6 | (15.2) |
EBIT margin % | -0.6% | 0.4% | -1.8% |
Adjusted EBIT | (5.3) | 67.9 | (15.2) |
Adjusted EBIT margin % | -0.6% | 4.0% | -1.8% |
EBITDA | 57.8 | 72.2 | 30.9 |
EBITDA margin % | 6.0% | 4.3% | 3.8% |
Adjusted EBITDA | 57.8 | 133.5 | 30.9 |
Adjusted EBITDA margin % | 6.0% | 7.9% | 3.8% |
Adjusted net income (Loss) | (60.5) | 23.2 | (61.8) |
Adjusted earnings (losses) per share – ADS basic | (0.3300) | 0.1264 | (0.3360) |
Net income (loss) attributable to Embraer Shareholders | (37.0) | 2.8 | (42.5) |
Earnings (losses) per share – ADS basic (US$) | (0.2020) | 0.0154 | (0.2311) |
Adjusted free cash flow | (435.2) | 426.2 | (665.3) |
Net debt | (762.7) | (439.9) | (1,103.7) |
For additional information, please check the full document on our website ri.embraer.com.br
INVESTOR RELATIONS
Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos, Paulo Ferreira and Viviane Pinheiro.
(+55 12) 3927 1000
[email protected]
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
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SOURCE Embraer S.A.