Brazil’s Embraer SA has already won enough orders to meet the top end of its targeted revenue range for the current financial year, the planemaker said Monday as it sees a bounce from a COVID-19-related downturn.
The positive outlook came after large revenue drops due to the pandemic and a failed deal in early 2020 for Boeing Co to take over its commercial aviation division, after which it was forced to reintegrate the unit.
Embraer’s order backlog hit $17.3 billion at the end of the first quarter, the highest level since early 2018.
The Brazilian planemaker reaffirmed its financial outlook for 2022, with revenue seen reaching between $4.5 billion and $5 billion.
Chief Financial Officer Antonio Carlos Garcia said the company already had enough orders to meet the top end of that range.
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