Embraer (EMBJ3) reported adjusted net income of R$ 379.8 mi in 3Q26, versus R$ 450 mi in the same period of the prior year. According to the company, the decline was mainly due to higher net financial expenses, linked to the mark-to-market of shares under the long-term incentive plan (ILP), and to taxes. Net income attributable to controlling shareholders was R$ 366.7 mi, or R$ 0.5133 per share, versus R$ 622.6 mi and R$ 0.8483 per share in 3Q25.
Net revenue totaled R$ 12.1 bi (R$ 12,066.9 mi), up 11% from 3Q25 and a record for a third quarter. In dollars, revenue was US$ 2,347 mi, up 17% from US$ 2,004 mi in 3Q25. Adjusted EBIT (earnings before interest and taxes) was R$ 1.3 bi (R$ 1,310.3 mi), with a margin of 10.9%, versus 8.5% in 3Q25. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 1,630.3 mi, with a margin of 13.5%, versus R$ 1,276.7 mi and 11.7% a year earlier.
Adjusted free cash flow excluding Eve was R$ 3.2 bi (R$ 3,237.8 mi), driven by customer advances and operating performance. Embraer, on a standalone basis, ended the quarter with net cash of R$ 2.2 bi, versus a negative position of R$ 1.1 bi in 2Q26. Consolidated cash was R$ 14.3 bi. The average debt maturity is 8.7 years, with an average cost of 5.1%.
The company delivered 66 aircraft in the quarter, up 6% from the 62 in 3Q25: 22 commercial, 41 executive and 3 defense. The firm order backlog reached US$ 35.7 bi, an all-time record and up 14% in one year.
For 2026, Embraer now projects revenue of US$ 8.4 bi to US$ 8.6 bi, above the previous range of US$ 8.2 bi to US$ 8.5 bi. The adjusted free cash flow excluding Eve guidance rose to US$ 700 mi or more, from US$ 400 mi or more. The adjusted EBIT margin of 10.0% to 10.6%, commercial deliveries of 80 to 85 aircraft and executive deliveries of 160 to 170 were maintained. The company also declared JCP (Interest on Equity) of R$ 0.22 per share (R$ 154 mi) for 3Q26, with payment scheduled for May 24, 2027. Combined with 2Q26, the total is R$ 354 mi, or R$ 0.50 per share.
