Brazil's Embraer boosts profits eight-fold

Brazilian Embraer, the world's third-biggest plane maker after Airbus and Boeing, on Thursday reported a 2024 net profit nearly eight times higher than a year earlier due to record sales.

The company announced a profit of over 2.6 billion reais, or some $450 million for 2024.

Embraer delivered 206 aircraft during the period: 73 commercial jets, 130 executive jets and three KC-390 Millennium transport aircraft -- up from 181 in 2023.

Revenues were nearly 35.4 billion reais in 2024, the "highest level ever," according to an earnings report.

In 2023, the company had emerged from the red to record a net profit of 333 million reais. 

In the fourth quarter of 2024, its net profit was over a billion reais (about $187 million).

Embraer also reported an order backlog of 153 billion reais in the fourth quarter of 2024, the largest ever.