Embraer: The 9% Pullback Still Doesn't Offer A Good Entry

Embraer shares are fairly valued after a recent decline, with no compelling catalyst for multiple expansion or outperformance. Despite record revenue and backlog, weaker margins in commercial and executive segments led to an earnings miss, tempering enthusiasm. Guidance was reaffirmed, projecting $8.2–$8.5B in revenue and $751M adjusted EBIT, but EBITDA growth is slowing versus prior years.