Embraer swings to Q1 loss, cites one-month production stoppage

Brazilian airframer Embraer lost $32m in Q1 2022, logging steep declines in military, executive and commercial aircraft revenue. The company attributes the results partly to a production interruption stemming from the failed sale of its commercial aircraft business to Boeing. The loss marks a significant slide from Embraer’s Q4 2021 profit of $57m. But the Q1 results are up from Q1 of 2021, when Embraer lost $90m. “The first-quarter result [continue] to show that our planned execution and company turnaround remains underway,” Embraer CE Francisco Gomes Neto says during the company’s first-quarter earnings call on 28 April. Embraer generated $601m in Q1 revenue, down 26% year-on-year. Revenue from its commercial aviation division tumbled 38% year-on-year to $169 million. The company delivered six E-Jets in the first quarter, down from 16 in the final quarter of 2021, and eight executive aircraft, down from 39 in the previous quarter. “Deliveries in the quarter were negatively impacted by [an] almost-one-month shut down due commercial aviation reintegration,” says Embraer.<br/>