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Embraer quarterly profit surges past forecasts
April 30, 2014 / 11:02 AM / 4 years ago

Embraer quarterly profit surges past forecasts

SAO PAULO (Reuters) - Brazil’s Embraer SA (EMBR3.SA), the world’s third-largest commercial planemaker, posted first-quarter net income of $111 million, up from $30 million a year earlier, according to a Wednesday securities filing.

Brazilian aircraft manufacturer Embraer unveils its new regional jet E-175, in Sao Jose dos Campos, north of Sao Paulo March 12, 2014. REUTERS/Paulo Whitaker

Profit beat an average forecast of $48 million in a Reuters survey of analysts. Earnings before interest, taxes, depreciation and amortization rose 50 percent to $151 million, beating an average estimate of $133 million.

Reporting by Brad Haynes and Roberta Vilas Boas

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