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 Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price 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 restated an “outperform” rating and issued a $80.00 price target on shares of Loar in a research report on Monday, October 7th.

Loar Stock Performance

Shares of NYSE LOAR opened at $88.11 on Wednesday. Loar has a 1 year low of $42.57 and a 1 year high of $95.35. The firm has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $65.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09.

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

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.