Embraer S.A.NYSE
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  • Yesterday, 2:41 PM
    • Emirates agrees to accept deliveries of Airbus (OTCPK:EADSF, OTCPK:EADSY) A380 jets powered by Rolls-Royce (OTCPK:RYCEF, OTCPK:RYCEY) engines after the U.K. company said it would fund measures to address performance and maintenance concerns.
    • Airline president Tim Clark says the engine problem involved a “higher intervention rate” in maintaining the Rolls engines due to unanticipated levels of wear to fan blades stemming from their deployment in Dubai’s desert climate.
    • Emirates is due to take receipt of 50 of the planes equipped with Rolls-Royce engines after switching from the competing GP7000 turbine manufactured by an alliance of GE and Pratt & Whitney, which powered its first 90 aircraft.
    • Separately, Canada reportedly will choose Airbus to provide search-and-rescue aircraft, with Airbus beating Italy's Leonardo (OTCPK:FINMF) and Brazil's Embraer (NYSE:ERJ).
    | Yesterday, 2:41 PM
  • Fri, Dec. 2, 7:35 AM
    • Embraer (NYSE:ERJ) has revised its initial projection of certification and entry into service of the E175 E2 jet from 2020 to 2021.
    • The rescheduling is based on continued interest and reflects recent negotiations between U.S. airlines and pilot unions.
    | Fri, Dec. 2, 7:35 AM
  • Tue, Nov. 22, 2:55 PM
    • Embraer (ERJ -3.9%) is lower after UBS downgrades shares to Sell from Neutral with a $19 price target, cut from $28, skeptical of the Brazilian airline's ability to monetize its nearly $2B investment in its next generation E2 commercial aircraft while its midsize bizjet ramp-up is largely behind and competitive growth from Cessna is accelerating.
    • ERJ trades at a ~10% discount to aerospace peers, in-line with its historical discount, but the firm thinks a bigger discount is warranted given its slowing growth outlook and still breakeven to negative free cash flow.
    | Tue, Nov. 22, 2:55 PM
  • Wed, Nov. 16, 12:58 PM
    • Embraer (ERJ -1.9%) agrees to a firm sale of 24 E175 jets to United Airlines, transferring an order previously placed by Republic Airways, which filed for Chapter 11.
    • ERJ says the planes, with a total list price of $1.08B, are scheduled for delivery next year, and backlog movement will be shown in its final quarterly results this year.
    | Wed, Nov. 16, 12:58 PM | 1 Comment
  • Sun, Nov. 13, 9:27 AM
    • As part of its plan to expand in the growing industry, Honda (NYSE:HMC) expects to ramp up business jet production and assemble 80 planes annually by March 2019, up from 36 currently.
    • The company began deliveries of its $4.5M jet in December and has received around 100 orders so far, mainly from customers in North America and Europe.
    • It competes with similar-sized aircraft produced by Cessna (NYSE:TXT), Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) and Embraer (NYSE:ERJ).
    | Sun, Nov. 13, 9:27 AM | 5 Comments
  • Mon, Oct. 31, 8:30 AM
    • Business jet makers will deliver fewer planes next year, according to Honeywell, deepening a downward spiral caused by slow global growth and lower oil prices.
    • The forecast anticipates a low single-digit percentage decline in the number of jets delivered in 2017 as buyers wait for models arriving in 2018 and 2019.
    • Honeywell also cut its 10-year outlook for business jet deliveries, saying it expects plane manufacturers to supply 8,600 new jets valued at $255B through 2026, down from 9,200 jets worth $270B it forecast last year.
    | Mon, Oct. 31, 8:30 AM | 1 Comment
  • Mon, Oct. 31, 7:50 AM
    • Embraer (NYSE:ERJ) posted a $34M net loss in Q3 due to the cost of staff cuts, used aircraft writedowns and a corruption settlement with U.S. and Brazilian authorities.
    • Excluding those one-time expenses, the Brazilian planemaker said its adjusted net income would have been $79M, up slightly from a year earlier.
    • ERJ +3.5% premarket
    | Mon, Oct. 31, 7:50 AM
  • Mon, Oct. 31, 6:20 AM
    • Embraer S.A. (NYSE:ERJ): Q3 EPS of $0.43 beats by $0.12.
    • Revenue of $1.51B (+18.0% Y/Y) beats by $40M.
    • Press Release
    | Mon, Oct. 31, 6:20 AM | 1 Comment
  • Mon, Oct. 31, 4:55 AM
    • Hawkers of civil and military aircraft - and the money to finance them - will try to drum up new business at aerospace expos this week, conscious their high-risk industry is approaching a turning point.
    • China's biggest aviation event - Airshow China - starts in Zhuhai tomorrow. A defense trade show will also take place in Jakarta and an air finance conference in Hong Kong, as well as the annual U.S. business jet jamboree in Orlando, Florida.
    • Among the U.S. exhibitors: AME, BA, ERJ, HON, HXL, LLL, LMT, SNA, TKR, TXT, UTX
    | Mon, Oct. 31, 4:55 AM | 2 Comments
  • Sun, Oct. 30, 5:30 PM
    | Sun, Oct. 30, 5:30 PM | 6 Comments
  • Mon, Oct. 24, 1:09 PM
    • Embraer (ERJ +1%) reaches a settlement with U.S. authorities, agreeing to pay a combined $205M to end the investigation into whether the company violated the Foreign Corrupt Practices Act regarding the sale of planes to various countries.
    • As part if the settlement, ERJ will pay $107M to the Justice Department as part of a deferred prosecution agreement, and another $98M to the SEC; ERJ may receive up to a $20M credit depending on the amount of disgorgement it will pay to Brazilian authorities in a parallel civil proceeding in Brazil.
    | Mon, Oct. 24, 1:09 PM | 2 Comments
  • Fri, Oct. 14, 8:00 AM
    • Embraer (NYSE:ERJ) delivered 29 commercial and 25 executive jets in Q3, while firm order backlog fell to $21.4B in September from $21.9B in June.
    • Commercial jet deliveries rose from 21 planes in the same period of 2015 and executive jet deliveries fell from 30 aircraft a year earlier.
    | Fri, Oct. 14, 8:00 AM
  • Wed, Oct. 12, 10:12 PM
    • Embraer (NYSE:ERJ+2.2% AH after saying it is near agreements with U.S. and Brazilian investigators to settle allegations of corruption.
    • ERJ says final agreements with the U.S. Justice Department and SEC and with Brazil’s federal public prosecutor and market regulator CVM will have terms similar to those described in July, which included possible fines, a deferred prosecution agreement and an independent monitor to assess compliance.
    • Before the news, Goldman Sachs had upgraded ERJ to Buy from Neutral, citing the potential for strong Q3 results and more details on cost improvement plans.
    | Wed, Oct. 12, 10:12 PM | 2 Comments
  • Fri, Oct. 7, 8:23 AM
    • Talks with U.S. authorities to settle a bribery investigation are at an advanced stage but that no agreement has yet been reached, Embraer (NYSE:ERJ) said in a securities filing.
    • "Despite the advanced stage of negotiations, the parties have not yet reached an agreement."
    • Previously: Embraer graft probe eyes Mozambique deal (Oct. 06 2016)
    | Fri, Oct. 7, 8:23 AM
  • Thu, Oct. 6, 10:06 AM
    • A U.S. investigation of Embraer (ERJ +1.7%) is looking into alleged bribery in the sale of aircraft to Mozambique's state airline in 2008, Folha de S.Paulo reports.
    • Embraer reaffirmed in a statement it has been cooperating and negotiating a formal accord with U.S. officials after voluntarily expanding an internal investigation.
    | Thu, Oct. 6, 10:06 AM
  • Mon, Sep. 26, 5:43 PM
    • Brazilian planemaker Embraer (NYSE:ERJ) says it will cut nearly 1,500 employees, or ~8% of its workforce, through a voluntary buyout program, in a bid to cut costs amid weak business jet sales and downsized defense contracts.
    • ERJ's defense unit, its fastest-growing division just a few years ago, has been forced to scale back major programs as Brazil's federal budget crisis hit military spending.
    • Brazilian newspaper O Globo reported over the weekend that ERJ is preparing a potential sale of the defense unit, which the company denies.
    | Mon, Sep. 26, 5:43 PM