In the first quarter 2018 (1Q18), Embraer delivered 14 commercial and 11 executive aircraft (8 light jets and 3 large jets), for a total of 25 jets delivered during the quarter. This compares to 1Q17 deliveries of 18 commercial jets and 15 executive jets (11 light and 4 large). The Company’s first quarter deliveries are generally the lowest in terms of seasonality, and Embraer remains confident in its 2018 guidance for 85 to 95 total commercial jet deliveries and 105 to 125 total executive jet deliveries (70-80 light jets and 35-45 large jets). The Company expects deliveries for both the Commercial Aviation and Executive Jets segments to improve in second quarter 2018(2Q18). Revenues in the quarter were US$ 992.0 million, representing a year-over-year decline of 4.8% compared to first quarter 2017 (1Q17), largely as a result of the lower commercial and executive aircraft deliveries in the period, partially offset by revenue growth in the Defense & Security (up 62.9% year-over-year) and Services & Support (up 4.0% year-over-year) segments.
Consolidated gross margin improved from 16.7% in 1Q17 to 18.3% in 1Q18, driven by year-over-year improvement in the Commercial Aviation, Executive Jets, and Defense & Security segments.