) has delivered a total of 29 jets in the first quarter of 2013
ending Mar 31, 2013, which fell short of the 34 deliveries made
in the same period last year.
EMBRAER AIR-ADR (ERJ): Free Stock Analysis
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Of the total, 17 jets were delivered to the commercial aviation
market including 8 of E-190, 6 E-195, 2 E-175 and 1 E-170, while
the remaining 12 jets were delivered to executive aviation
inclusive of 8 Light and 4 Large jets.
Embraer − the largest among Brazil's aircraft manufacturers − had
an order backlog of approximately $13.3 billion at the end of the
quarter, which represented an $800 million increase from the
year-end 2012 level. In terms of aircraft breakdown, this
includes 97 E-190, 80 E-175, 25 E-195 and 9 E-170 jets.
The first quarter backlog includes the contract from Republic
Airways Holdings Inc. for deliveries of 47 E175 jets. It also
includes an order from Embraer Defense and Security for the
supply of 20 A-29 Super Tucano aircraft.
Embraer S.A. primarily develops, produces and sells jet and
turboprop aircrafts for civil and defense aviation markets in
Brazil, North America, Latin America, the Asia Pacific and
The company has sold regional and mid-capacity jets to more than
80 customers on every continent of the world. Its customers
include some of the largest and most significant regional and
low-cost airlines and commercial carriers the world over.
Again, Embraer has a series of contracts and tie-ups with
companies for its jets. The continuous demand for E-Jets
demonstrates the confidence of its customers in Embraer and of
satisfaction with the product.
The current Zacks Consensus Estimate for the first quarter of
2013 is 48 cents, reflecting a year-over-year increase of 34.2%.
Estimates for 2013 and 2014 are $2.73 and $3.10, reflecting
annual growth of 41.4% and 13.7%, respectively.
The company presently retains a short-term Zacks Rank #3 (Hold).
We would advise investors to accumulate its short-term Zacks Rank
#2 (Buy) peer
Wesco Aircraft Holdings, Inc.
). Other stocks with a Zacks Rank #2 (Buy) include
FLIR Systems, Inc.
Triumph Group, Inc