Embraer’s Q2 losses narrow, but the final result is still negative

Embraer has reported improved results for the second quarter and first six months of 2023 but was still loss-making. The consolidated net loss attributable to shareholders for Q2 was $-18.8 million compared to $-146.4 million last year. Without extraordinary effects, the adjusted net income for the quarter would have been $57.9 million versus $46.2 million last year. Embraer reported an increase in revenue to $1.292bn from $1.019bn. Adjusted EBIT was $99.9 million versus $81.2 million due to positive operating profit of $73.2 million compared to a $-227.1 million loss, lower costs associated with eVTOL subsidiary Eve Air Mobility, the absence of costs