SAO PAULO, Nov 10 (Reuters) - Brazilian planemaker Embraer on Tuesday raised its 2026 revenue forecast to between $8.4 billion and $8.6 billion, from a previous range of $8.2 billion to $8.5 billion, after reporting a 17% rise in third-quarter revenue.
Sao Paulo-traded shares in the company jumped around 7% in midday trading, making Embraer the top performer on benchmark stock index Bovespa, which slipped 0.4%. The planemaker's shares are up some 30% year-to-date.
• Embraer estimated annual free cash
flow at $700 million or higher, up from a previous projection of $400 million or higher, while reiterating its delivery outlook of 80-85 commercial jets and 160-170 executive aircraft
• The company reported third-quarter revenue at a record high of $2.35 billion, while adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 34% to $317.1 million
• Embraer previously disclosed a 6% rise in third-quarter deliveries to 66 aircraft while its backlog grew 14% to a record high of $35.7 billion
• The world's third-largest planemaker behind Airbus and Boeing said there was "strong sales momentum across all business units"
• CEO Francisco Gomes Neto said a spike in jet fuel prices due to the Middle East conflict has had no impact on deliveries or sales campaigns, instead creating opportunities for fuel-efficient jets such as Embraer's E2 family
• Scotiabank analysts said: "Embraer is one of the best names in our coverage, as few companies offer a similarly broad improvement across businesses, with backlog still expanding and profitability moving higher while the balance sheet strengthens"
(Reporting by Gabriel AraujoEditing by David Goodman and Fernando Cardoso)
