An Embraer Legacy landing at Cleveland in March 2009. Photo: Angelo Ballachino – OPShots Contributor //
Embraer is ramping up for another busy fourth quarter, when the company expects to nearly match the number of executive jets deliveries and revenues brought in through the first three quarters combined.
During the third quarter, Embraer delivered 13 business jets, including 11 Phenoms and two of its large business jets – slightly fewer than analyst expectations. J.P.Morgan’s Joseph Nadol notes original estimates were for 19 Phenoms and three of the large business jets, but says Embraer is expected to cover the shortfall in the fourth quarter.
For the year, Embraer has delivered 40 light and six large executive jets, and Embraer President and CEO Frederico Curado told analysts today (Oct. 24) the company still expects to meet its guidance of deliveries of 15-20 large executive jets and 75-85 Phenoms for the year. “I think we’re going to get there.”
Nadol says this likely would be at the lower end of the guidance – which would keep deliveries down slightly from 2011. But like this year, 2011 deliveries were also heavily back-loaded, with 50% of the shipments coming in the fourth quarter.
via Embraer Prepares For Fourth-Quarter Surge In BizJet Deliveries.
