Loar Holdings Inc. ( (LOAR) ) has released its Q3 earnings. Here is a breakdown of the information Loar Holdings Inc. presented to its investors.
Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components, playing a critical role in the global aerospace and defense industry. The company recently reported impressive financial results for the third quarter of 2024, showing significant growth in net sales and net income, driven by strong demand in both commercial and defense markets.
In the third quarter of 2024, Loar Holdings achieved net sales of $103.5 million, marking a robust 25% increase compared to the same period last year. The company’s net income rose substantially to $8.7 million, demonstrating a remarkable improvement from the previous year’s $2.9 million. Additionally, the adjusted EBITDA climbed to $38.1 million, up 31.8% year-over-year, reflecting the firm’s successful execution of strategic initiatives and operational efficiencies.
Year-to-date figures also echoed this positive trend, with net sales reaching $292.4 million, a 26.5% increase over the previous year. The company’s net income for the first nine months of 2024 was $18.5 million, a significant turnaround from a net loss in the prior year. Loar’s strategic acquisition of Applied Avionics contributed to this upward revision in guidance for 2024, although it also led to an increase in interest and amortization costs.
Looking forward, Loar Holdings has revised its full-year 2024 guidance upward, anticipating net sales between $390 million to $394 million. Despite the positive sales outlook, net income is expected to be lower due to acquisition-related expenses. For 2025, the company projects net sales between $470 million and $480 million, indicating continued growth across its core markets.
Loar’s management remains optimistic about future performance, driven by a robust backlog and strong demand across its end-markets. The company continues to position itself for sustained growth in the aerospace and defense industry, underpinned by strategic acquisitions and a focus on operational excellence.
