Loar Holdings sees FY24 adjusted EPS 35c-37c, consensus 41c

“As a result of the successful closure of the acquisition of Applied Avionics and our strong business performance, we are revising our full year 2024 guidance,” stated Glenn D’Alessandro, Loar Chief Financial Officer and Treasurer. “This guidance therefore reflects higher interest and amortization costs as a result of the acquisition of Applied Avionics.” Net sales – between $390 and $394 million, up from $374 million to $378 million, consensus $386.15M. Net income – between $19.0 and $20.0 million, down from $28.4 million to $29.6 million. Adjusted EBITDA – between $141 and $143 million, up from $134 million to $136 million. Diluted earnings per share – between $0.20 to $0.22. Net income margin – approximately 5%, down from approximately 8%. Adjusted Earnings Per Share -between $0.35 and $0.37, down from $0.44 to $0.46 Adjusted EBITDA Margin – remains at approximately 36%. Interest expense – approximately $54 million, up from $42 million. Market Assumptions – Full year outlook is based on the following assumptions: Commercial, Business Jet, and General Aviation OEM growth of high double-digits, up from mid double-digits. Commercial, Business Jet, and General Aviation aftermarket growth of mid double-digits. Defense growth of high double-digits, up from mid double-digits.