March 8, 2018 / 10:40 AM / 3 months ago

Embraer profit misses estimates on defense, business jet writedowns

SAO PAULO, March 8 (Reuters) - Brazilian planemaker Embraer SA booked an 82 percent fall in fourth quarter net income to $35 million partly due to writedowns in its defense and executive jet divisions, a securities filing showed on Thursday.

Profit missed an average forecast of $137 million in a Thomson Reuters consensus.

The company narrowed its 2018 revenue outlook by $200 million to between $5.4 billion and $5.9 billion and lowered its estimate for maximum cash burn this year to $100 million from $150 million due to more certainty about estimates. (Reporting by Brad Haynes; editing by Jason Neely)

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