Embraer cuts 2015 revenue guidance

Embraer announced (30-Jul-2015) the following revised outlook guidance for 2015:

• Net revenue:
• • Commercial Aviation: USD3.2-3.4 billion, unchanged;
  • Executive Jets: USD1.70-1.85, unchanged;
  • Defense & Security: USD800-950 million, revised downward from previous forecast of USD1.10-1.25 billion;
  • Other revenue: USD100 million, unchanged;
  • Total revenue: USD5.8-6.3 billion, revised downward from previous forecast of USD6.1-6.60 billion.
• EBIT: USD490-560 million, unchanged;
• EBIT margin: 8.5%-9%, raised from previous forecast of 8%-8.5%;
• EBITDA: USD730-860 million, unchanged;
• EBITDA margin: 12.6%-13.6%, raised from previous forecast of 12%-13%.

The decline in revenue guidance is due to a USD300 million reduction in expected revenues in the Defense & Security segment, driven by the combination of the negative impact of continued devaluation of the Brazilian real versus the US dollar and a slower pace of development work on certain Defense & Security contracts. Embraer reiterates all other aspects of its 2015 guidance. [more - original PR]