Loar Holdings Inc

LOAR

Equity

ISIN US53947R1059 / Valor 134255895

New York Stock Exchange, Inc (2024-12-26)

USD 76.64+1.70%

Loar Holdings Inc
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About company

Loar Holdings Inc. is a company focused on building a robust business platform through the strategic acquisition and growth of companies specializing in the design and manufacture of Aerospace and Defense components. Utilizing its access to capital and extensive industry experience, Loar Holdings aims to enhance the capabilities and market presence of its acquired entities. The company operates on a global scale, forming alliances to strengthen its position within the Aerospace and Defense sectors.

Summarized from source with an LLMView SourceSector: Industrials

Net Sales Growth

Loar Holdings Inc. reported net sales of $103.5 million for the third quarter of 2024, marking a 25.0% increase compared to the same quarter in the previous year. This growth was driven by strong demand in both the commercial and defense sectors.

Net Income Increase

The company achieved a net income of $8.7 million in Q3 2024, which is an increase of $5.8 million from the prior year's quarter. This improvement was primarily due to higher operating income and reduced interest expenses.

Adjusted EBITDA Performance

Loar Holdings Inc. reported an adjusted EBITDA of $38.1 million for the third quarter of 2024, representing a 31.8% increase from the previous year's quarter. The adjusted EBITDA margin improved to 36.8%, up from 34.9% in the prior year.

Year-to-Date Financials

For the first nine months of 2024, Loar Holdings Inc. reported net sales of $292.4 million, a 26.5% increase over the same period last year. The year-to-date net income rose to $18.5 million, a significant turnaround from a net loss of $4.0 million in the previous year.

Revised 2024 Outlook

Loar Holdings Inc. revised its full-year 2024 guidance, projecting net sales between $390 and $394 million. Despite higher interest and amortization costs due to the acquisition of Applied Avionics, the company expects adjusted EBITDA to range from $141 to $143 million.

Summarized from source with an LLMView Source

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