Embraer swings to $69.5 million 2Q net profit; E2 testing progressing

Embraer earned a net profit of $69.5 million in the 2017 second quarter, reversed from a net loss of $101.5 million the 2016 June quarter, as revenue increased 28.6% year-over-year (YOY) to $1.8 billion.

The Brazilian manufacturer’s second-quarter expenses increased 36.4% YOY to $1.5 billion and gross profit was $317.1 million, up 11.8% from a gross profit of $283.7 million in the prior-year quarter. Embraer delivered 35 commercial aircraft to seven customers during the quarter, a 35% increase over 26 deliveries in the year-ago quarter. 

Embraer said the E-Jet E2 program continues to progress well, with the flight test campaign now including four E190-E2s and one E195-E2. The five aircraft have flown for over 1,000 flight-test hours combined and been put though almost 3,000 ground-test hours, Embraer said.

“The E190-E2 has already accomplished 55% of its test campaign,” Embraer said in a statement. “Also, the wing bending test was successfully completed in May. The E195-E2 had its range increased from 2,450nm to 2,600nm, revealing an even better performance than initially expected.”