(Adds market reaction, analyst comment, details of deliveries)
SAO PAULO Oct 14 Brazilian planemaker Embraer
SA on Friday reported its strongest third quarter for
commercial jet deliveries in seven years, boosting shares on
hopes that a strong result in its airline division would offset
weak demand for executive jets.
Embraer delivered 29 of its E-Jets to commercial airlines
from July through September, the division's best performance for
the period since 2009, putting the company on track to hit a
full-year delivery target of 105 to 110 deliveries.
The success of Embraer's narrow-body medium-range E-Jet
airliners has made it the world's third-largest commercial
Embraer shares rose 2.6 percent in Sao Paulo, among the
strongest gainers on the benchmark Bovespa stock index.
BTG Pactual analysts said commercial jet deliveries beat
their expectations by eight aircraft, but they warned that
competitive pricing pressures for executive jets would still
weigh on earnings, which are scheduled for release on Oct. 31.
Third-quarter executive jet deliveries slipped to 25
aircraft from 30 planes a year earlier, although deliveries of
larger models rose by a third to 12 aircraft, boosted by
stronger demand for the new Legacy 450/500 model.
Embraer's order backlog, a gauge of its revenue in the
pipeline, fell to $21.4 billion at end-September from $21.9
billion at end-June, marking its first quarterly drop in a
(Reporting by Brad Haynes, additional reporting by Silvio
Cascione in Brasilia, editing by W Simon)