Embraer reported this Friday an adjusted net loss of 179.7 million reais in the third quarter, against an adjusted net loss of 797.5 million reais in the same period last year, highlighting a “significant improvement” in its flow of box in the annual comparison.
The company said it has revised upwards its forecast for full-year 2021 cash flow and now expects positive cash flow at $100 million or more, from a previous forecast between $150 million and zero consumption.
According to Embraer, this was the first time in more than ten years that the company reported positive free cash flow in a third quarter. The aircraft manufacturer said that this result comes from better profitability and efficiency of working capital.
The company also reported third-quarter net income of 5.01 billion reais, up 22% year-on-year, supported by double-digit growth across all of its business segments.
“Embraer expects that in the fourth quarter of 2021 deliveries and revenues will increase and stay within normal seasonal patterns, leading to yet another positive free cash flow,” the company said in a statement.
Embraer also disclosed adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of 410.7 million reais in the third quarter, reversing a negative performance of 40.7 million reais in the same period last year.
Reference: CNN Brasil
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