Loar (NYSE:LOAR) Releases FY 2024 Earnings Guidance

Loar (NYSE:LOAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.350-0.370 for the period, compared to the consensus earnings per share estimate of 0.410. The company issued revenue guidance of $390.0 million-$394.0 million, compared to the consensus revenue estimate of $386.2 million. Loar also updated its FY 2025 guidance to 0.450-0.500 EPS.

Loar Stock Up 1.5 %

NYSE LOAR opened at $82.17 on Friday. The business has a 50 day moving average price of $78.45 and a 200 day moving average price of $65.80. Loar has a 1-year low of $42.57 and a 1-year high of $95.35. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33.

Loar (NYSE:LOAR) last announced its earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. The company’s revenue was up 31.2% on a year-over-year basis. As a group, analysts anticipate that Loar will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LOAR shares. Citigroup upped their price objective on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price target on Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Loar in a research note on Thursday.

About Loar

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.