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Brazil's Embraer posts stronger fourth-quarter profit
March 9, 2017 / 10:54 AM / 8 months ago

Brazil's Embraer posts stronger fourth-quarter profit

SAO PAULO, March 9 (Reuters) - Brazil’s Embraer SA , the world’s third-largest commercial planemaker, reported on Thursday a 52 percent rise in its fourth-quarter net income to 648 million reais ($205 million).

Earnings before interest, taxes, depreciation and amortization rose to 1.258 billion reais, more than double the result for the same period a year ago, when a bankruptcy filing by a major client incurred a provision charge of 391 million reais.

Analysts had forecast net income of $132 million and EBITDA of $260 million on average, according to Thomson Reuters data. Analysts gave their estimates in U.S. dollars, but Embraer initially reported earnings in Brazilian reais. ($1 = 3.16 reais) (Reporting by Brad Haynes; Editing by Greg Mahlich)

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