(ERJ) Embraer Delivers Jet to Belavia

Last week, Embraer S.A. (ERJ), the largest Brazilian aircraft manufacturer, made a delivery of its EMBRAER 175 jet to Belavia, the 100% state-owned flag-carrier of Belarus.

The aircraft delivered is leased from Air Lease Corporation of Los Angeles and will fly on European routes from Minsk International airport in Belarus. The aircraft manufacturer is still due to delivery another E175 jet to Belavia by the end of this year. E175 jet supports 12 business class and 64 economy class seats.

Embraer over time has been growing its presence in major parts of the world, especially Europe and Asia. Belavia is the company’s ninth customer in Eastern Europe and Central Asia. Across the world, as many as 340 E170s/E175s jets are operating, clearly depicting the growing preferences for the company’s aircrafts.

In addition to this contract, last week Embraer Defense and Security signed an agreement with the Brazilian Air Force (FAB) for a total value of roughly $130 million, including $98 million from routine logistics support and US$32 million in optional services.

Under this Embraer Support Solution for the Government (ESSG) program, the company will be providing logistics support and services for the fleet of 24 ERJ-145 (ERJ-145, ERJ-135, Legacy 600, RS, and AEW&C) family operated by FAB.

The current Zacks Consensus Estimate for the third quarter of 2012 is 59 cents, reflecting a year-over-year decline of 13.64%. Estimates for 2012 and 2013 are $2.24 and $3.10, reflecting annual growth of 105.5% and 38.4%, respectively.

We currently maintain a Neutral recommendation on Embraer. The stock also bears a Zacks #3 Rank, implying a short-term (1-3 months) Hold rating. The company’s major competitors Boeing Co. (BA) and Northrop Grumman Corporation (NOC) have a Zacks #3 (Hold) Rank while Lockheed Martin Corporation (LMT) holds a Zacks #2 (Buy) Rank.

Read the full analyst report on “NOC”
Read the full analyst report on “ERJ”
Read the full analyst report on “BA”
Read the full analyst report on “LMT”
Zacks Investment Research

About vitalstocks

This is a sample profile field. Vitalstocks is the operating company for Stockbloghub. This will place the picture of the author or company in the profile. Here is another extra line of information.


Powered by Facebook Comments

Similar Posts: | | | | | | | | | | Aerospace-Defense Products & Services | Industrial Goods

RSS feeds: BA | Boeing Company | EMBRAER - Empresa Brasileira de Aeronáutica S.A. | ERJ | FAB | First Trust Multi Cap Value AlphaDEX | LMT | Lockheed Martin Corporation | NOC | Northrop Grumman Corporation | Aerospace-Defense Products & Services | Industrial Goods |

Other Posts by | RSS Feed for this author