Provision for U.S. corruption settlement triggers steep Embraer loss

viernes 29 de julio de 2016 06:35 GYT

SAO PAULO, July 29 (Reuters) - Brazil's Embraer SA , the world's third-largest commercial planemaker, posted an unexpected second-quarter net loss of $99 million on Friday due to a $200 million provision for the possible settlement of a U.S. corruption probe.

The result was worse than the average forecast of a $76 million profit in a Reuters poll of analysts. Embraer, which on Friday initially reported earnings in Brazilian reais, also cut its outlook for 2016 operating profit, free cash flow and executive jet deliveries. (Reporting by Brad Haynes Editing by W Simon)