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Jun 30, 2024
Loar Holdings Inc Q2 2024 Earnings Report
Loar Holdings Inc. reported record results for the second quarter of 2024, with net sales up 31.1% year-over-year and net income increasing significantly.
Key Takeaways
Loar Holdings Inc. reported a strong second quarter in 2024, marked by record net sales of $97.0 million, a 31.1% increase compared to the prior year. Net income rose to $7.6 million, and adjusted EBITDA reached $35.0 million, driven by exceptional commercial aftermarket growth.
Net sales reached $97.0 million, a 31.1% increase year-over-year.
Net income was $7.6 million, significantly up from $0.6 million in the prior year's quarter.
Earnings per share was $0.09.
Adjusted EPS was $0.13.
Loar Holdings Inc
Loar Holdings Inc
Loar Holdings Inc Revenue by Segment
Forward Guidance
Loar Holdings Inc. revised its full year 2024 guidance upward, expecting strong demand drivers across its end-markets.
Positive Outlook
- Net sales are projected to be between $374 million and $378 million.
- Net income is expected to be between $28.4 million and $29.6 million.
- Adjusted EBITDA is anticipated to be between $134 million and $136 million.
- Net income margin is estimated to be approximately 8%.
- Adjusted Earnings Per Share is projected to be between $0.44 and $0.46.
Challenges Ahead
- Interest expense is expected to be approximately $42 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income