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Brazil's Embraer profit falls 67 percent, missing estimates
April 29, 2013 / 11:22 PM / in 5 years

Brazil's Embraer profit falls 67 percent, missing estimates

SAO PAULO (Reuters) - Brazil’s Embraer SA (EMBR3.SA), the world’s biggest maker of regional jets, reported that first-quarter net income fell 67 percent from a year earlier to 61.7 million reais ($30.9 million), according to a Monday securities filing.

An Embraer ERJ-170 plane from United is seen at Newark Liberty International Airport in Newark, New Jersey November 15, 2012. REUTERS/Eduardo Munoz

Profit missed an average estimate of $58 million in a Reuters survey of five analysts. Analysts gave their estimates in dollars, but Embraer’s initial earnings report was in Brazilian reais.

Reporting by Brad Haynes; Editing by Gary Hill

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