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Sep 30, 2024
Loar Holdings Inc Q3 2024 Earnings Report
Loar Holdings Inc. reported record results, driven by strong demand in commercial and defense end-markets, and provided upward revision to 2024 and initial 2025 guidance.
Key Takeaways
Loar Holdings Inc. reported a strong Q3 2024 with record net sales of $103.5 million, a 25.0% increase compared to the prior year's quarter. Net income also rose to $8.7 million, up from $2.9 million in the same quarter last year. Adjusted EBITDA reached $38.1 million, a 31.8% increase year-over-year. The company revised its full-year 2024 guidance upward and provided initial guidance for 2025, reflecting confidence in continued growth.
Net sales increased by 25.0% to $103.5 million compared to the prior year’s quarter.
Net income increased to $8.7 million, up from $2.9 million in the prior year’s quarter.
Adjusted EBITDA increased by 31.8% to $38.1 million compared to the prior year’s quarter.
Adjusted Earnings Per Share of $0.15.
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 and provided initial guidance for 2025.
Positive Outlook
- Net sales between $390 and $394 million for 2024.
- Adjusted EBITDA between $141 and $143 million for 2024.
- Commercial, Business Jet, and General Aviation OEM growth of high double-digits for 2024.
- Commercial, Business Jet, and General Aviation aftermarket growth of mid double-digits for 2024.
- Defense growth of high double-digits for 2024.
Challenges Ahead
- Net income between $19.0 and $20.0 million for 2024.
- Net income margin approximately 5% for 2024.
- Adjusted Earnings Per Share between $0.35 and $0.37 for 2024.
- Interest expense approximately $54 million for 2024.
- Diluted Earnings per share – between $0.20 and $0.22 for 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income