Embraer Disappoints

Embraer – (ERJ) Empresa Brasileira de Aeronautica SA announced Q3 profits and disappointed the marketplace. They made much in their press release about volatility against Brazilian currency. Who cares about Brazilian currency. If there is a naturally global company is has to be aircraft manufacturers. Most of their product will be sold in US Currency and will also be exported.

The press release is disappointing in its detail. They talk about a new facility in Portugal but provide little information about its potential impact on profits. They did take the opportunity to recount the sales announcements and keep the hype up.