Loar (NYSE:LOAR) Issues FY 2024 Earnings Guidance

Loar (NYSE:LOAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Loar Stock Down 8.2 %

Shares of LOAR opened at $80.89 on Thursday. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $78.45 and its two-hundred day moving average price is $65.80. Loar has a 52 week low of $42.57 and a 52 week high of $95.35.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LOAR. Morgan Stanley raised their price target on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. 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. Finally, Citigroup lifted their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

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.