SÃO PAULO, Nov. 5, 2021 /PRNewswire/ -- EMBRAER S.A. (NYSE:ERJ, B3: EMBR3))) releases its Third Quarter 2021 Earnings Results.

HIGHLIGHTS

Embraer delivered 9 commercial jets and 21 executive jets (14 light / 7 large) in 3Q21, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 3Q21 was US$ 16.8 billion;
Revenues in 3Q21 reached US$ 958.1 million, representing year-over-year growth of 26.3% compared to 3Q20, with double digit growth in all segments;
Excluding special items, adjusted EBIT and EBITDA were US$ 35.7 million and US$ 79.2 million, respectively, yielding adjusted EBIT margin of 3.7% and adjusted EBITDA margin of 8.3%. In the first nine months of 2021, adjusted EBIT margin was 3.8% and adjusted EBITDA margin was 8.9%;
Adjusted net loss (excluding special items and deferred income tax and social contribution) in 3Q21 was US$ (33.9) million, with adjusted loss per ADS of US$ (0.18);
Embraer generated free cash flow in 3Q21 of US$ 21.3 million, and in the first nine months of 2021 free cash usage was US$ (160.2) million. The positive free cash flow in 3Q21 represented the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter. The free cash flow in both periods represented a significant improvement compared to the prior year periods on better profitability and working capital efficiencies, particularly with respect to inventory management;
The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;
Given better-than-expected free cash flow performance over the first nine months of 2021, Embraer is updating its guidance for free cash flow without M&A or divestitures to a range of US$ 100 million or better, from the prior range of US$ (150) million to breakeven. The Company reiterates its other financial and deliveries guidance for 2021 of commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 aircraft, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, and adjusted EBITDA margin of 8.5% to 9.5%.

Main financial indicators

in millions of U.S dollars, except % and earnings per share data
IFRS	2Q21	3Q20	3Q21	YTD21
Revenue	1,130.5	758.7	958.1	2,895.9
EBIT	143.8	(37.7)	30.0	140.7
EBIT margin %	12.7%	-5.0%	3.1%	4.9%
Adjusted EBIT	104.7	(45.3)	35.7	110.8
Adjusted EBIT margin %	9.3%	-6.0%	3.7%	3.8%
EBITDA	199.8	(0.6)	73.5	287.8
EBITDA margin %	17.7%	-0.1%	7.7%	9.9%
Adjusted EBITDA	160.7	(8.2)	79.2	257.9
Adjusted EBITDA margin %	14.2%	-1.1%	8.3%	8.9%
Adjusted net income (Loss) ²	43.6	(148.3)	(33.9)	(86.2)
Adjusted earnings (losses) per share - ADS basic	0.2373	(0.8058)	(0.1843)	(0.4690)
Net income (loss) attributable to Embraer Shareholders	87.9	(121.2)	(45.0)	(46.8)
Earnings (losses) per share - ADS basic (US$)	0.4785	(0.6585)	(0.2450)	(0.2548)
Adjusted free cash flow	45.1	(566.5)	21.3	(160.2)
Net debt	(1,840.5)	(2,365.1)	(1,803.6)	(1,803.6)

For additional information, please check the full document on our website ri.embraer.com.br

Investor Relations

Eduardo Couto, Chris Thornsberry, Caio Pinez, Marilia Saback, and Viviane Pinheiro.

(+55 11) 3040-6874

investor.relations@embraer.com.br

ri.embraer.com.br

CONFERENCE CALL INFORMATION

Embraer will host a conference call to present its 3Q21 Results on Friday, November 5, 2021 at 11:00 AM (SP) / 10:00 AM (NY). The conference call will also be broadcast live over the web at ri.embraer.com.br

Conference ID: EMBRAER

Telephones USA / Canada: +1 (412) 717-9627 / +1 (844) 204-8942

Telephones Brazil: +55 (11) 4210-1803 / +55 (11) 4090-1621

We recommend calling 15 minutes in advance.

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SOURCE Embraer S.A.

Embraer releases its third quarter 2021 earnings release