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Embraer (NYSE:ERJ) fell 4.4% by 10:32 a.m. ET after the Brazilian maker of plane reported Q3 income that was lower than Wall Avenue estimates.
Income grew 6.5% from a yr earlier to about $1.02 billion in Q3, lacking the consensus estimate by $180 million.
Embraer (ERJ) delivered 10 industrial jets and 23 govt jets in the course of the quarter, bringing year-to-date deliveries to 27 industrial jets and 52 govt jets. Regardless of supply-chain hurdles, deliveries for This fall are near the historic common, Embraer (ERJ) mentioned.
Its 3Q consolidated gross margin was 19.1%, in contrast with 19% a yr earlier.
Adjusted EBIT and EBITDA had been $50 million and $93 million, respectively, yielding an adjusted EBIT margin of 5.4% and adjusted EBITDA margin of 10%.
Free money move in 3Q22 was damaging -$109.4 million due to a rise in working capital associated to greater deliveries in 4Q22, which can reverse to a optimistic development, Embraer (ERJ) mentioned.
Embraer (ERJ) this yr declined 41% by Nov. 11, in contrast with an 11% slide for the Customary & Poor’s 400 mid-cap index (SP400).
Searching for Alpha columnist Ricardo Fernandez charges Embraer (ERJ) a Purchase on its valuation. Contributor Jay Capital has a Robust Purchase ranking on Embraer (ERJ) based mostly on its sum-of-the-parts valuation.
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