Embraer sees smaller losses, higher revenue in third quarter

Embraer announced its third quarter earnings on 31 October 2016, highlighted by a 71 percent reduction in its net losses over the same period in 2015 (Valor, Terra). The airplane manufacturer recorded a US$34.5 million net loss, compared to US$118.4 million in the third quarter of 2015. Additionally, the firm saw net revenue of US$1.5 billion during the quarter, representing a 7.3 percent increase over third quarter of 2015. Embraer highlighted its delivery of 29 jets during the quarter. In order to meet its revenue and delivery estimates, the company will need to post its best quarter of the year in the fourth quarter.