Embraer cuts 2018 outlook, hurt by executive jet, defense setbacks

Reuters

Published Jan 16, 2019 06:45AM ET

Embraer cuts 2018 outlook, hurt by executive jet, defense setbacks

SAO PAULO (Reuters) - Brazilian planemaker Embraer SA (SA:EMBR3) on Wednesday lowered its revenue projection for 2018 by $300 million, hurt by fewer deliveries of executive jets and a runway testing incident with its new military cargo jet.