Loar (NYSE:LOAR) Updates FY 2024 Earnings Guidance

Loar (NYSE:LOAR) updated 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.

Loar Trading Down 1.7 %

Loar stock opened at $80.80 on Friday. Loar has a 12 month low of $42.57 and a 12 month high of $95.35. The stock’s 50 day moving average is $78.90 and its 200-day moving average is $66.13. 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 issued its quarterly 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 company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts expect that Loar will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

LOAR has been the subject of several recent analyst reports. Citigroup upped their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price objective on Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Loar in a report on Thursday.

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.