Embraer’s operating profit declined by 25% in the third quarter on fewer commercial aircraft deliveries.
The company’s financial results show that revenue declined by 8% year-on-year in the third quarter to $1.29 billion.
Embraer’s operating profit before financial income dropped to $75.8 million, compared to $101 million a year ago.
Commercial aircraft deliveries, meanwhile, amounted to 19 aircraft in the corner, or 30% fewer than the 27 jets delivered in the third quarter last year.
Deliveries in the third quarter this year included one Embraer 170, nine E-175s and nine E-190s.
The commercial aircraft division’s smaller output offset gains in the executive jet business.
Embraer delivered 10 more light jets compared to the third quarter last year and two more large jets, for a total of 21 light jets and four large jets.
The company’s defence and security segment also reported fewer revenues year-on-year, as sales declined from $309 million a year ago to $267 million in the third quarter this year.
Embraer’s cash and cash equivalents rose to $1.63 billion in the third quarter. The total cash position, including financial investments, declined to $2.17 billion.
The company’s loans amounted to $2.19 billion at the end of the quarter, resulting in negative net cash position of $19.6 million in debt.