Welcome to our dedicated page for Loar Holdings news (Ticker: LOAR), a resource for investors and traders seeking the latest updates and insights on Loar Holdings stock.
Loar Holdings Inc. (NYSE: LOAR) is a leading manufacturer and supplier of niche aerospace and defense components, essential for today's aircraft and defense systems. Headquartered in White Plains, NY, Loar Holdings operates across ten manufacturing facilities in the United States, and has international operations in Germany and the United Kingdom.
Loar's product portfolio is diverse, including auto throttles, lap-belt airbags, seat belts, water purification systems, fire barriers, polyimide washers and bushings, latches, hold-open and tie rods, temperature and fluid sensors and switches, brake discs, ice protection systems, RAM air components, sealing solutions, and motion and actuation devices.
In the first quarter of 2024, Loar Holdings reported record results with net sales of $91.8 million, marking a 23.7% increase over the previous year. The company's Adjusted EBITDA stood at $33.0 million, showing a growth of 23.0%. This performance was driven by a combination of organic growth and successful acquisitions. The company's financial condition was further strengthened by an initial public offering (IPO) that raised $330 million, which was used to repay $285 million of debt and bolster corporate liquidity.
Loar Holdings maintains strong relationships with leading aerospace and defense original equipment manufacturers (OEMs) and Tier One suppliers globally. The company's commitment to innovation and quality is evident in its continuous investment in infrastructure and product development to meet the evolving demands of the aerospace and defense sectors.
Recent news highlights include the announcement of Q1 2024 earnings and a record-breaking quarterly performance. The company also secured a new $50 million revolving credit facility and extended its existing credit agreement, improving financial flexibility.
Loar Holdings Inc. is focused on leveraging its expanded capabilities and financial strength to drive future growth both organically and through strategic acquisitions, ensuring it continues to deliver essential, high-quality components to the global aerospace and defense industries.
Loar Holdings Inc. (NYSE:LOAR) has completed the acquisition of Applied Avionics, Inc. for $385 million in cash. Applied Avionics specializes in designing and manufacturing highly engineered interface solutions for avionics and aerospace/defense electronics. Their brands, VIVISUN® and NEXSYS®, are preferred by leading aircraft retrofit providers and military contractors.
Key financial highlights:
- Applied Avionics' projected 2024 net sales: ~$40 million
- Projected 2024 Adjusted EBITDA: ~$21 million
- Expected tax benefits: ~$45 million
- Loar's projected net-debt-to-EBITDA ratio post-acquisition: <4.0x
This strategic acquisition is expected to strengthen Loar's position in the aerospace and defense electronics market.
Loar Holdings Inc. (NYSE:LOAR) reported record Q2 2024 results and revised its full-year guidance upward. Key highlights include:
- Net sales of $97.0 million, up 31.1% year-over-year
- Net income of $7.6 million, a significant increase from $0.6 million in Q2 2023
- Adjusted EBITDA of $35.0 million, up 26.3% year-over-year
- Earnings per share of $0.09, with Adjusted EPS at $0.13
The company raised its full-year 2024 outlook, now projecting:
- Net sales between $374-$378 million
- Net income between $28.4-$29.6 million
- Adjusted EBITDA between $134-$136 million
- Adjusted EPS between $0.44-$0.46
Loar expects strong demand across its end-markets, with mid-double-digit growth in commercial, business jet, general aviation, and defense sectors.
Loar Holdings Inc. (NYSE:LOAR) has announced its upcoming Q2 2024 earnings release and conference call schedule. The company will report its earnings before the market opens on Tuesday, August 13, 2024. This will be followed by a conference call at 10:30 a.m. Eastern Time.
Investors and interested parties can participate in the call telephonically by dialing +1 877-407-0670 (US) or +1 215-268-9902 (International). A live audio webcast will also be available through the company's investor relations website. For those unable to attend live, the webcast will be archived for later replay.
Loar Holdings Inc (NYSE:LOAR) has announced a definitive agreement to acquire Applied Avionics, Inc. for $385 million in cash. Applied Avionics, founded in 1968, specializes in designing and manufacturing highly engineered avionics interface solutions. The company's brands, VIVISUN® and NEXSYS®, are preferred by leading aircraft retrofit providers and military contractors. Applied Avionics is expected to generate approximately $40 million in sales and $21 million in adjusted EBITDA for 2024. Loar anticipates tax benefits of about $45 million from the transaction, resulting in an effective purchase price multiple of 16x Applied Avionics' 2024 adjusted EBITDA. The acquisition aligns with Loar's strategy to enhance its niche capabilities and proprietary product offerings, with over 75% of Applied Avionics' sales coming from the aftermarket.
Loar Holdings reported its Q1 2024 results, showing a strong performance with net sales of $91.8 million, a 23.7% increase from the previous year. Net income rose to $2.2 million, compared to a loss of $7.5 million in Q1 2023. Adjusted EBITDA also increased by 23% to $33.0 million. The net income margin improved to 2.4%. The company completed its IPO on April 29, raising $330 million, which was used to repay $285 million of debt. The revised credit agreement has extended debt maturity to 2030 and reduced interest rates. The full-year 2024 outlook projects net sales between $370 million and $374 million, with net income between $25.7 million and $27.1 million.
Loar Holdings Inc. (NYSE:LOAR) has announced the date and time for its First Quarter 2024 Earnings Conference Call, set to report earnings before the market opens on Tuesday, May 14th, 2024. The conference call will follow at 10:30 a.m. Eastern Time, with options for telephonic participation and a live audio webcast. The webcast will be archived for later replay.
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