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Last $25.52 USD
Change Today -0.32 / -1.24%
Volume 815.5K
ERJ On Other Exchanges
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

embraer sa-spon adr (ERJ) Key Developments

Embraer S.A Reports Unaudited Earnings Results for the Second Quarter and Year to Date of 2015; Provides Consolidated Earnings Guidance for the Year 2015

Embraer S. A reported unaudited earnings results for the second quarter and year to date of 2015. For the quarter, the company reported revenue of $1,513.2 million against $1,761.3 million a year ago. EBITDA was $177.6 million against $261.4 million a year ago. EBIT was $102.2 million against $186.8 million a year ago. Adjusted net income was $122.5 million against $128.8 million a year ago. Net income attributable to the company’s shareholders was $129.3 million or $0.7096 per ADS basic share against $143.4 million or $0.7829 per ADS basic share a year ago. As far as free cash flow generation, the company had a positive free cash flow of $73 million in the second quarter, with $245 million positive from operating activities. This was primarily due to the positive EBITDA coupled with the better figures for working capital requirements, especially lower inventories and increased advance from customers. For the year to date, the company reported revenue of $2,569.1 million, EBITDA of $326.8 million, EBIT was $181.8 million, adjusted net income of $170.8 million and net income attributable to the company’s shareholders was $67.6 million against $143.4 million or $0.3708 per ADS basic share. Net debt was $510.7 million against $114.3 million a year ago. The company had a total investment in the first six months of $196 million, broken by $94 million investment in CapEx, $84 million in development and $18 million in research. The company reiterates its EBIT and EBITDA guidance for the year 2015 at $490 million to $560 million and $730 million to $850 million, respectively. However, in order to reflect the recent devaluation of the Brazilian real versus the U.S. dollar, the company now expects 2015 consolidated revenues to range from $5.8 million to $6.3 billion ($6.1 to $6.6 billion previously). The company expects to see the higher numbers in the second half for development and CapEx, primarily due to the development schedule of the E2 program. At this point, the company is keeping its CapEx estimate of 106 of $650 million for 2015. The company is maintaining its outlook for the year, which represents less than the consumption of $100 million in terms of free cash flow.

Guizhou Airlines Signs Agreement with Embraer S.A. for Seven E190s

Guizhou Airlines signed agreement with Embraer S.A. for seven E190s. Two of them will be delivered within this year, while the remaining five is expected to be delivered in the next two years.

Delta Air Lines Plans to Cancel 60 Plane Orders with Boeing and Embraer

Delta Air Lines announced that it plans to cancel orders for 60 new planes after company pilots last week voted down a new three-year labor contract. Delta's move affects 40 Boeing 737-900 planes and 20 Embraer E-190 aircraft worth an estimated $4 billion based on the list price of the planes. Delta pilots rejected a three-year contract by nearly two-to-one due to unhappiness with a proposed profit-sharing plan. The drop comes as carriers contend with tough pressure on airplane ticket prices due to additional seat capacity.

Embraer SA to Report Q2, 2015 Results on Jul 30, 2015

Embraer SA announced that they will report Q2, 2015 results at 9:30 AM, US Eastern Standard Time on Jul 30, 2015

Embraer SA, Q2 2015 Earnings Call, Jul 30, 2015

Embraer SA, Q2 2015 Earnings Call, Jul 30, 2015

 

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Industry Analysis

ERJ

Industry Average

Valuation ERJ Industry Range
Price/Earnings 34.7x
Price/Sales 0.9x
Price/Book 1.2x
Price/Cash Flow 34.7x
TEV/Sales NM Not Meaningful
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