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Business & Finance

Embraer profit misses estimates on defense, business jet writedowns

Published March 8, 2018 Updated March 8, 2018 01:34pm
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By Shoaib Ur RehmanReuters
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SAO PAULO: Brazilian planemaker Embraer SA booked an 82 percent fall in fourth quarter net income to $35 million partly due to writedowns in its defense and executive jet divisions, a securities filing showed on Thursday.

Profit missed an average forecast of $137 million in a Thomson Reuters consensus.

The company narrowed its 2018 revenue outlook by $200 million to between $5.4 billion and $5.9 billion and lowered its estimate for maximum cash burn this year to $100 million from $150 million due to more certainty about estimates.

 

 

Copyright Reuters, 2018
 

 

 

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