In the third quarter 2019 (3Q19), Embraer delivered 17 commercial and 27 executive (15 light and 12 large) jets, compared to 15 commercial jets and 24 executive (17 light and 7 large) jets in the third quarter of 2018 (3Q18). The Company’s firm order backlog at the end of 3Q19 was US$ 16.2 billion; EBIT and EBITDA in 3Q19 were US$(20.8) million and US$18.2 million, respectively, yielding EBIT margin of -1.8% and EBITDA margin of 1.5%.
The quarterly results were impacted by separation costs of US$34.8 million related to the carve out of Embraer’s Commercial Aviation business. In the first nine months of 2019 the Company’s EBIT was US$(9.3) million (EBIT margin of -0.3%) and EBITDA was US$ 116.2 million (EBITDA margin of 3.4%). In the same period separation costs represented US$66.6 million.
3Q19 net loss attributable to Embraer shareholders and loss per ADS were US$(77.2) million and US$(0.42), respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 3Q19 was US$ (48.4) million, with adjusted loss per ADS of US$(0.26). Embraer has reported adjusted net loss in 3Q18 of US$(16.5) million, for an adjusted loss per ADS of US$(0.09) in the quarter. The Company has reported 3Q19 free cash flow of US$(257.4) million, versus free cash flow of US$(162.6) million reported in 3Q18.
