Embraer Q2 Profit Down; Cuts 2015 Revenues Outlook - Quick Facts

(RTTNews) - Embraer S.A. (ERJ) reported that its second-quarter net income attributable to Shareholders declined to $129.3 million from $143.4 million in the prior year. Earnings per ADS was $0.7096, lower than last year's $0.7829.

Revenue for the quarter dropped to $1.513 billion from $1.761 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share and revenues of $1.62 billion. Analysts' estimates typically exclude special items.

In the second-quarter 2015, Embraer delivered 27 commercial and 33 executive (26 light and 7 large) jets. Deliveries in the first half of 2015 were 47 commercial jets and 45 executive (36 light and 9 large) jets.

Embraer reiterated its EBIT and EBITDA guidance for 2015 at $490 million - $560 million and $730 million -$850 million, respectively. However, in order to reflect the recent devaluation of the Brazilian real versus the U.S. dollar, the Company cut 2015 consolidated revenues outlook to a range of $5.8 billion - $6.3 billion from the prior estimate of $6.1 billion to $6.6 billion.