Loar (NYSE:LOAR) Releases FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

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

Loar Price Performance

NYSE LOAR opened at $88.11 on Wednesday. Loar has a 12-month low of $42.57 and a 12-month high of $95.35. The firm’s fifty day simple moving average is $78.25 and its two-hundred day simple moving average is $65.69. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts expect that Loar will post 0.37 EPS for the current 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.