Shares of Embraer (NYSE:ERJ) took flight today after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted EBIT came in at $166.2 million with revenue of $2 billion. This beat revenue estimates by $20 million.
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Looking forward, management expects adjusted free cash flow for Fiscal Year 2023 to be $150 million or more. In addition, revenue is anticipated to come in between $5.2 billion to $5.7 billion versus the consensus forecast of $5.386 Billion.
Today’s results gave ERJ stock a noticeable boost relative to the price action witnessed over the past five trading days. As a result, the stock is up almost 6% over this timeframe.