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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
Revenue by Segment
Commercial Aerospace Revenue
CapyFin.comBusiness Jet & GA Revenue
CapyFin.comDefense Revenue
CapyFin.comOther Revenue
CapyFin.com 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