Embraer Q2 Loss Narrows; Stock Up In Pre-market

(RTTNews) - Embraer S.A. (ERJ) a Brazilian aircraft manufacturer, on Monday reported lower loss for the second quarter of the full year, on higher revenues.

For the quarter, it reported a loss that narrowed to $18.8 million or $0.0256 loss per share from $146.4 million or $0.1993 loss per share of last year.

Excluding items, it reported earnings of $57.9 million compared to $46.2 million of the previous year.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues increased 27 percent to $1.292 billion from $1.018 billion previous year, on higher volumes. The Street estimate for revenue was $1.2 billion for the quarter.

In pre-market activity, shares of Embraer are trading at $15.49, up 3.54% on the New York Stock Exchange.