EMBRAER: Company Profit In The Second Quarter Disappoints

(RTTNews) - Brazil's aircraft maker Embraer posted a R$ 192.7 million net profit in the second quarter of 2017, after a R$ 337.3 million loss in the same quarter of 2016, when the company's results were hit by a R$ 684 million provision related to corruption investigations in the United States. Revenue grew 19.4%, to R$ 5.666 billion.

In US dollars, Embraer has reversed losses and posted a US$ 59.1 million net profit, slightly below the estimated by analysts consulted by CMA, which expected a US$ 70 million net profit.

Net revenue rose by 29.5%, to US$ 1.770 billion, above the market's expected average of US$ 1.468 billion. Meanwhile, adjusted EBITDA in foreign currency increased 70.7%, to US$ 245.4 million, while analysts predicted a US$ 204 million reading.