In the fourth quarter of 2016, Embraer delivered 32 commercial and 43 executive (25 light and 18 large) jets. The manufacturer ended 2016 with 108 total commercial aircraft deliveries and 117 executive (73 light and 44 large) jet deliveries, both meeting their respective guidance for 2016. Revenues in 4Q16 reached US$ 2,027.8 million and in 2016 were US$ 6,217.5 million, slightly above Embraer’s 2016 Revenue Guidance range of US$ 5.8 to US$ 6.2 billion. EBIT and EBITDA1 margins were 13.6% and 18.7%, respectively, in 4Q16, and for fiscal year 2016 the EBIT and EBITDA margins were 3.3% and 8.6%, respectively.
During 4Q16 and 2016, Embraer had several non-recurring items related to the Republic Airways bankruptcy, the voluntary dismissal program, and finalization of the FCPA investigation. Excluding these non-recurring items, adjusted EBIT and EBITDA margins in 4Q16 were 12.1% and 17.2%, respectively. For 2016 adjusted EBIT and EBITDA margins were 8.0% and 13.3%, respectively. Adjusted EBIT and EBITDA margins met their Guidance of 7.0% to 8.0% and 12.7% to 13.5% for 2016, respectively.
The fourth quarter net income attributable to Embraer Shareholders and Earnings per ADS were US$ 195.2 million and US$ 1.06 per ADS (US$ 209.1 million and US$ 1.14 per ADS excluding deferred tax and nonrecurring items). In 2016 net income attributable to Embraer Shareholders and Earnings per ADS were US$ 166.1 million and US$ 0.90 per ADS (US$ 290.5 million and US$ 1.58 per ADS excluding items).
Embraer releases 2017 guidance for total revenues of US$ 5.7 to US$ 6.1 billion, driven by expected deliveries of 97 to 102 jets in Commercial Aviation and 105 to 125 total jet deliveries in Executive Jets. Consolidated EBIT margin is expected to be within a range of 8.0% to 9.0%, and Guidance for Free Cash.Date: March 10, 2017