TLDR
- Embraer posts record $7.58B revenue in 2025, beating guidance
- EMBJ stock drops 6.6% despite strong financial and delivery growth
- Aircraft deliveries rise 18% to 244 jets across all aviation units
- Record $31.6B backlog highlights strong global aircraft demand
- Embraer forecasts $8.2B–$8.5B revenue and higher deliveries in 2026
Embraer S.A. (EMBJ) stock fell sharply after the company reported record annual revenue and higher aircraft deliveries for 2025. The Brazilian aerospace manufacturer posted $7.58 billion in revenue as several business units expanded rapidly. EMBJ shares declined 6.59% to $62.09 despite strong operational and financial results.
Revenue Growth and Profitability Strengthen Results
EMBJ recorded $2.65 billion in revenue during the fourth quarter as demand increased across multiple aviation segments. The company also pushed total 2025 revenue to $7.58 billion, its highest annual level on record. EMBJ achieved an 18% year-over-year increase and exceeded its own financial guidance.
Executive Aviation and Defense & Security drove most of the expansion during the year. Executive Aviation revenue rose 25% from the previous year as business jet demand strengthened. Meanwhile, Defense & Security revenue jumped 36%, which reinforced EMBJ’s diversified growth strategy.
Profitability also improved as EMBJ reported adjusted EBIT of $298.4 million during the fourth quarter. The result produced an operating margin of 8.7%, matching the company’s annual performance. For the full year, EMBJ generated adjusted EBIT of $656.8 million and maintained the same 8.7% margin.
Aircraft Deliveries and Backlog Expansion
Aircraft production and deliveries increased steadily throughout the year and supported revenue growth for EMBJ. The company delivered 91 aircraft during the fourth quarter across commercial, executive, and defense programs. As a result, EMBJ raised total annual deliveries to 244 aircraft, which marked an 18% increase from 2024.
Commercial Aviation delivered 78 aircraft during 2025, including both E2 and E1 jet families. Executive Aviation contributed 155 aircraft, with strong shipments of both light and medium business jets. Defense programs also delivered aircraft, including KC-390 Millennium transport aircraft and A-29 Super Tucano models.
Demand remained strong as EMBJ reported a firm order backlog valued at $31.6 billion. This figure represented a record level for the company and increased more than 20% from the previous year. Commercial Aviation played a major role as EMBJ reported a 2.8 book-to-bill ratio across the E175 and E2 platforms.
Financial Position and 2026 Outlook
Cash generation improved significantly during the year and strengthened EMBJ’s balance sheet. Adjusted free cash flow excluding Eve reached $738.3 million in the fourth quarter. For the full year, EMBJ generated $491.2 million in adjusted free cash flow.
The company ended 2025 with a net cash position of $109.3 million when excluding Eve operations. EMBJ extended its debt maturity profile through an updated liability management strategy. The average loan maturity increased to 9.1 years from 3.7 years one year earlier.
EMBJ expects further operational growth during 2026. Commercial Aviation deliveries should reach between 80 and 85 aircraft, while Executive Aviation may deliver 160 to 170 jets. The company also forecasts revenue between $8.2 billion and $8.5 billion with an adjusted EBIT margin between 8.7% and 9.3%.
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