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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.
