Embraer reiterates goal to deliver between 77 and 85 commercial aircraft
Embraer ended Q3 2025 with an adjusted net income of $54.4 million.
Embraer has published its Q3 2025 financial results, reiterating that its goal to deliver between 77 and 85 commercial aircraft remains unchanged. The company had 46 deliveries after the first nine months of the year.
On November 4, 2025, Embraer released its latest quarterly results, with the company ending the period with revenues of $2 billion and an adjusted net income of $54.4 million, significantly lower than the $221 million adjusted net income it had earned in Q3 2024.
Its three and nine-month adjusted free cash flow (FCF) was $300.3 million and -$247 million, respectively, which does not include Eve’s results. Eve is Embraer’s publicly listed subsidiary that develops mobility solutions, including electric vertical take-off and landing (eVTOL) aircraft.
The company ended Q3 with net cash of -$439.3 million, and stand-alone cash reserves of $1.6 billion, which excludes Eve’s cash position. With Eve, Embraer’s net cash, which includes “cash and cash equivalents plus financial investments short-term and long-term minus loans short-term and long-term,” was -$196.8 million at the end of the quarter.
Embraer’s commercial aircraft division’s revenues were $618 million, up 31% year-on-year (YoY), “underpinned by better product mix and higher volumes and prices.” Adjusted earnings before interest and taxes (EBIT) margin was 1.3%, compared to -4.8% in Q3 2024.
As a reminder, Embraer delivered 20 commercial aircraft in Q3 2025, with its year-to-date (YTD) deliveries as of September 30 numbering 46. The Brazilian manufacturer reiterated that it still plans to hand over between 77 and 85 commercial aircraft to its customers in 2025.
The value of its commercial aircraft backlog grew to $15.2 billion by the end of Q3, largely driven by two large orders during the quarter: Avelo Airlines’ purchase of up to 100 E195-E2s (50 firm, 50 optional) and LATAM Airlines’ order of up to 74 E195-E2 aircraft (24 firm, 50 optional).
Nevertheless, to achieve at least the lower end of its commercial aircraft delivery goal of between 77 and 85, Embraer would have to deliver 31 aircraft in Q4. In Q4 2024, it handed over 31 aircraft, enabling it to achieve its guidance of between 70 and 73 commercial aircraft deliveries with a total of 73 in 2024.
Planespotters.net records indicated that since September 30, Embraer has delivered four E175 and two E195-E2s, including the latest delivery of an E175, registered as N634SY, to SkyWest Airlines on November 4.
The jet, which will be operated on behalf of United Airlines’ regional brand United Express, is on its way to the United States at the time of publishing.
After having departed Sao Jose dos Campos Airport (SJK) at 08:32 local time (UTC -3), the aircraft, which is still in the air, should land at Manaus Eduardo Gomes International Airport (MAO) at 11:26 local time (UTC -4), from where it will continue onward to the United States.
In its presentation to investors, Embraer outlined that it has planned to have a more level production level in 2026, avoiding the plateau of January and the peak of December. Lead times for E-jets are down 27% when compared to 2021, it pointed out.
Rytis Beresnevicius
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