Embraer Posts Surprise $5.3m 2Q Loss

Embraer has posted an unexpected quarterly loss of $5.3m due to the strength of the US dollar. The manufacturer’s 2Q loss compares with a gain of $55m in the same period last year. The company was hit by a $97.1m tax bill, due to the strength of the US dollar. However, the exchange rate will prove favourable in the long-term. Eighty five per cent of its revenue is received in dollars. During the quarter, Embraer delivered 22 commercial and 29 executive (23 light and 6 large) jets. Its firm order backlog grew to $17.1bn, reaching its highest level since the third quarter of 2009.

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