Brazil-based EMBRAER S.A. (NYSE: ERJ) (B3: EMBR3) has reported USD 7.2 million in second quarter net income with earnings per ADS of USD 0.04, the company said.
Adjusted net loss (excluding deferred income tax and social contribution) for the second quarter 2019 was USD (13.9) million, with adjusted loss per ADS of USD (0.08).
Embraer reported adjusted net loss in 2Q18 of USD (0.4) million, for an adjusted loss per ADS of USD (0.002) in the quarter. The company reported second quarter 2019 free cash flow of USD 1.5 million, versus free cash flow of USD 43.3 million reported in the second quarter 2018. The company said it expects free cash flow generation to improve in the second half of the year given higher expected aircraft deliveries and cash inflows related to defense & security contracts;
The Company finished the quarter with total cash of USD 2,478.8 million and total debt of USD 3,569.1 million, yielding a net debt position of USD 1,090.3 million at the end of the second quarter 2019.
Embraer delivered 26 commercial and 25 executive (19 light and 6 large) jets during 2Q19, compared to 28 commercial jets and 20 executive (15 light and 5 large) jets in 2Q18;