Loar (NYSE:LOAR) Releases FY 2024 Earnings Guidance

Loar (NYSE:LOAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.350-0.370 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several brokerages have recently issued reports on LOAR. Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of Loar in a research note on Monday, October 7th. Finally, Morgan Stanley lifted their price objective on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th.

Loar Stock Down 8.8 %

Loar stock traded down $7.79 during mid-day trading on Wednesday, hitting $80.32. 160,369 shares of the company’s stock were exchanged, compared to its average volume of 294,819. The company’s 50 day simple moving average is $78.25 and its 200-day simple moving average is $65.69. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $95.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86.

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

Loar Company Profile

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.