Embraer posted consolidated revenue of US$2,311 million in Q4 2024, representing a 17% year-on-year increase. Total revenue for 2024 reached US$6,395 million, aligning with the upper end of the company’s guidance and marking a 21% increase compared to 2023. All business units performed well, with Defence & Security and Executive Aviation showing notable revenue growth of 40% and 25% year-on-year, respectively.
In Q4 2024, Adjusted EBIT stood at US$265.1 million, reflecting an 11.5% margin, excluding US$6.8 million in extraordinary expenses related to Eve’s development costs. For the full year, Adjusted EBIT amounted to US$708.2 million with an 11.1% margin, excluding US$40.7 million in similar extraordinary items. This result surpassed the upper end of the company’s revised 2024 guidance by 11%.
Reported EBIT reached US$258.3 million in Q4 2024, up from US$209.0 million in the same quarter of 2023. For the full year, reported EBIT rose to US$667.5 million (10.4% margin) compared to US$314.5 million (6.0% margin) in 2023, driven by higher volumes, improved product mix, and one-time gains, including US$150 million from the Boeing arbitration agreement and US$38 million in Q2 tax credits.
Net income attributable to Embraer shareholders was US$45.6 million in Q4 2024, with earnings per ADS of US$0.2483, compared to US$192.6 million and US$1.0487, respectively, in Q4 2023. For the full year, net income reached US$352.5 million, with earnings per ADS of US$1.9194, compared to US$164.0 million and US$0.8930 in 2023.
Adjusted net income for Q4 2024 was US$173.0 million, up from US$77.6 million a year ago, excluding US$(81.3) million in deferred taxes and US$(46.1) million from Eve’s results, which were impacted by mark-to-market losses on warrants. For the full year, Adjusted net income was US$461.6 million, compared to US$79.5 million in 2023, excluding US$(112.0) million in deferred taxes and US$2.9 million from Eve’s results. Eve’s development costs began to be capitalised as intangible assets in Q3 2023 as the programme reached sufficient maturity.
