Shares of Embraer SA (ERJ) surged over 5% on Thursday as the Brazilian aircraft manufacturer reported record third-quarter earnings and raised its financial outlook for 2024, citing strong demand across its business segments.

For the three months ended September 30, Embraer posted adjusted net income of $207.3 million, or $1.20 per share, marking a significant jump from $59 million, or $0.33 per share, in the prior-year period. Revenue grew 32% year-over-year to $1.69 billion, powered by robust sales increases of 65% in both the Executive Aviation and Defense & Security units.

The company also lifted its 2024 guidance, now forecasting adjusted EBIT margins between 9-10%, up from its previous range of 6.5-7.5%. Free cash flow projections were raised to $300 million or higher from $220 million previously. Embraer reaffirmed its revenue expectations of $6-6.4 billion for the full year.