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Last $32.65 USD
Change Today +0.62 / 1.94%
Volume 1.6M
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

embraer sa-spon adr (ERJ) Key Developments

Azul Linhas Aéreas Brasileiras S.A and Embraer SA Signs Firm Order for Up to 50 E-Jets E2

Embraer S.A. and Azul Linhas Aereas Brasileiras S.A. have reached a final agreement for 30 firm orders for the E195-E2 jets. The contract, announced as a Letter of Intent (LOI) during the 2014 edition of the Farnborough International Airshow, in July last year, also includes an additional 20 purchase rights for the same model, bringing the total potential order up to 50 E195-E2 jets. The contract for the E-Jets E2 has an estimated value of USD 3.2 billion, at Embraer's current list prices, if all purchase rights are converted to firm orders. The firm orders will be included in Embraer's 2015 second-quarter backlog. The first delivery is scheduled for the second quarter of 2020. The first delivery of an E-Jets E2 (the E190-E2) is planned for the first semester of 2018. The E195-E2 is scheduled to enter service in 2019 and the E175-E2 in 2020. The E-Jets E2 program reinforces Embraer's commitment to continuously invest in the company's line of commercial jets and to maintain leadership in the 70 to 130-seat aircraft segment. Embraer's E-Jets E2s have Pratt & Whitney PurePowerTM Geared Turbofan high by-pass ratio engines (PW1700G on the E175-E2, PW1900G on the E190-E2 and E195-E2). Combined with new aerodynamically advanced wings, full fly-by-wire flight controls, and improvements to other systems, the E2s will deliver significant reductions in fuel burn, maintenance costs, emissions, and external noise.

Embraer S.A. and Tianjin Airlines Sign Final Agreement for the Sale of 22 Aircraft

Embraer S.A. and Tianjin Airlines, a subsidiary of the HNA Group, have signed the final agreement for the sale of 22 aircraft. The contract, with an estimated value of USD 1.1 billion at current list prices, comprises 20 E195s and two E190-E2s. The agreement between the two companies for 40 aircraft was previously announced during Chinese President Xi Jinping's State visit to Brazil, in July 2014. The remaining 18 E190 E2 will be part of a second approval by the Chinese authorities in a later stage. The first E195 will be delivered in 2015, and the first E190-E2 is scheduled for delivery in 2018. This order will be incorporated in Embraer's 2015 second-quarter backlog.

Embraer Announces Purchase Agreement with Air Hamburg

Embraer announced that a purchase agreement was signed with Air Hamburg for a Legacy 650. With this acquisition, the Germany-based business charter operator, which serves European, Russian and Middle East destinations, expands its Embraer fleet to six aircraft – five Legacy 600/650 and one Phenom 300. The delivery of this aircraft is scheduled for the third quarter of 2015.

Embraer SA Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

Embraer SA reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was $1,055.9 million against $1,242.3 million a year ago. Operating profit before financial income was $79.6 million against $92.1 million a year ago. Profit before taxes on income was $59.1 million against $94.6 million a year ago. Net loss attributable to owners of the company was $61.7 million or $0.3354 per diluted share against net income of $110.6 million or $0.6009 per diluted share a year ago. Net cash used in operating activities was $396.8 million against $300.4 million a year ago. Additions to property, plant and equipment was $93.4 million against $47.6 million a year ago. Additions to intangible assets were $90.9 million against $83.3 million a year ago. EBITDA was $149.1 million against $151.0 million a year ago. Adjusted net income was $48.3 million against $62.9 million a year ago. Net debt as on March 31, 2015, was $581.3 million against net cash of $52.7 million for the same period a year ago. In the first quarter the company spends a $72 million in CapEx. For the year 2015, the company maintaining operating results guidance for 2015 for the amount range of $490 million to $560 million, in the 8% to 8.5% margin. In terms of EBITDA for the year remains unchanged, with a range of $730 million to $850 million (sic) [$860 million] and a margin of 12% to 13%. The company maintaining and confirming 2015 revenue guidance between $6.1 billion and $6.6 billion.

Embraer SA to Report Q1, 2015 Results on Apr 30, 2015

Embraer SA announced that they will report Q1, 2015 results at 9:30 AM, US Eastern Standard Time on Apr 30, 2015

 

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Industry Analysis

ERJ

Industry Average

Valuation ERJ Industry Range
Price/Earnings 14.0x
Price/Sales 0.3x
Price/Book 0.4x
Price/Cash Flow 56.0x
TEV/Sales 0.3x
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