Embraer Tumbles as World's Top Currency Gain Weighs on Costs
- CEO says planemaker may face challenges from real's rise
- Business jets hurt first-quarter margins, company says
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Embraer SA fell the most on Brazil’s benchmark stock index as analysts speculated that a local currency rally may force the planemaker to accept smaller profits on its overseas aircraft sales.
Shares dropped 7.3 percent to 19.83 reais at 4:04 p.m. in Sao Paulo after falling as low as 19.42 reais, the lowest intraday price in almost two years. Embraer was the biggest decliner on the Ibovespa index, which fell 1.1 percent.