Embraer unveiled the results for 4Q25 and 2025.

Highlights:

Guidance for 2026: From an operational point of view, Commercial Aviation deliveries between 80 and 85 aircraft and Executive Aviation deliveries between 160 and 170 aircraft. From a financial point of view, revenues in the US$8.2 to US$8.5 billion range, adjusted EBIT margin between 8.7% and 9.3% (with 10% U.S. import tariffs), and adjusted free cash flow w/o Eve of US$200 million or higher for the year.

Revenues totaled US$2,652 million in 4Q25 and US$7,578 million in 2025 – highest annual level ever – +18% year over year (yoy) and above the high end of guidance. Highlights for Defense & Security and Executive Aviation revenues with +36% and +25% yoy growth.

 Adjusted EBIT reached US$230.9 million with an +8.7% margin in 4Q25. For the full year, the company reported adjusted EBIT of US$656.8 million with an +8.7% margin - both above guidance. In 2024, the company's adjusted EBIT ex Boeing reached US$558.2 million for an +8.7% margin. U.S. import tariffs totaled US$27 million during the quarter (102bp); and US$54 million for the full year.

Adjusted free cash flow w/o Eve was US$738.3 million during the quarter and US$491.2 million in 2025, supported by higher number of aircraft delivered. Consequently, the company finished 2025 with US$109.3 million net cash position (w/o Eve).

The liability management strategy implemented materially increased the company's (ex Eve) average loan maturity to 9.1 years in 4Q25 from 3.7 years in 4Q24.

Embraer delivered 91 aircraft in 4Q25, of which 32 were commercial jets (18 E2s and 14 E1s), 53 were executive jets (28 light and 25 medium) while 6 were defense related (2 KC-390 Millennium and 4 A-29 Super Tucano). In 2025, the company delivered a total of 244 aircraft, of which 78 were commercial jets (44 E2s and 34 E1s), 155 were executive jets (86 light and 69 medium), 3 were multi-mission KC-390 Millennium and 8 were A-29 Super Tucano in Defense & Security; +18% versus the 206 aircraft delivered in 2024.

Firm order backlog of US$31.6 billion in 4Q25 – an all-time high and more than 20% higher yoy. Highlight for Commercial Aviation 2.8x book-to-bill across the E175 and E2 platforms, which supported a +42% yoy increase in backlog.