Loar Holdings (NYSE: LOAR) boosts 2026 guidance after record Q2 growth
Rhea-AI Filing Summary
Loar Holdings Inc., a diversified aerospace and defense components supplier, reported record results for the quarter ended June 30, 2026. Net sales were $171.6 million, up 39.4% year over year, including 12.3% organic growth to $138.3 million. Adjusted EBITDA reached $69.4 million, up 47.4%, with Adjusted EBITDA margin improving to 40.5% from 38.3%. Net income was $16.7 million, roughly flat versus the prior-year quarter, as higher interest expense and amortization offset operating gains; diluted EPS was $0.18 versus $0.17. Management noted a business pipeline of approximately $750 million, with initial orders supporting about $200 million of revenue over the next five years.
For the first half of 2026, net sales were $327.7 million, up 37.8%, while Adjusted EBITDA was $132.7 million, up 47.0%. Net income declined to $27.9 million from $32.0 million, pressured by higher interest, increased non-cash amortization of acquired intangibles and inventory step-up tied to the LMB and Harper Engineering acquisitions. At June 30, 2026, assets totaled 2,326,048 (amounts in thousands) with cash of $122.4 million and long-term debt of 942,598 (thousands).
The company raised its full-year 2026 outlook. Net sales are now expected between $665 million and $675 million (previously $645–$655 million), net income between $56 million and $60 million (previously $53–$57 million) and Adjusted EBITDA between $265 million and $270 million (previously $257–$262 million). Adjusted EBITDA margin is projected at about 40%, net income margin about 8%, diluted EPS between $0.57 and $0.62, and Adjusted EPS between $1.32 and $1.36, with interest expense around $80 million.
Positive
- Q2 2026 revenue and profit growth: Net sales reached $171.6 million, up 39.4%, and Adjusted EBITDA rose 47.4% to $69.4 million, with Adjusted EBITDA margin improving to 40.5% from 38.3%.
- Upward revision of 2026 guidance: Full-year outlook increased for net sales ($665–$675 million), net income ($56–$60 million), Adjusted EBITDA ($265–$270 million) and Adjusted EPS ($1.32–$1.36).
- Strong demand visibility: Management cites an approximately $750 million business pipeline and initial orders expected to generate about $200 million of revenue over the next five years.
Negative
- Pressure on GAAP profitability: Year-to-date 2026 net income declined to $27.9 million from $32.0 million and net income margin fell to 8.5% from 13.5%, reflecting higher interest expense, amortization and inventory step-up.
- Higher leverage and interest burden: Long-term debt rose to 942,598 (thousands) from 711,338 (thousands), with year-to-date net interest expense of $38.7 million and projected full-year interest expense of about $80 million.
Filing Explained
The Q2 update was furnished, not filed, and first-half cash flows included $249,841 thousand of acquisitions and $240,000 thousand of new debt.
This Form 8-K reports a specified material event: on
The results and Exhibit 99.1 are furnished rather than filed for Exchange Act Section 18 purposes and are not incorporated by reference into other filings unless specifically referenced.
For the six months ended
Thus, the first-half cash-flow picture reflects substantial acquisition spending alongside new debt financing, rather than operating results alone.
The release defines Adjusted EBITDA and related measures as non-GAAP measures that add specified adjustments to reported results; it states they are not substitutes for GAAP net income or operating cash flow.
The company also states that these measures do not reflect interest, taxes, or certain cash requirements, so Adjusted EBITDA should not be treated as cash available for investment or debt service.
The revised full-year 2026 outlook remains a forward-looking estimate: the release says it is not a guarantee, provides no forward reconciliation for the non-GAAP measures, and actual results may differ.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
inventory step-up financial
contingent consideration liability financial
non-GAAP financial measures financial
forward-looking statements regulatory
Earnings Snapshot
For full-year 2026, Loar expects net sales of $665–$675 million, net income of $56–$60 million, Adjusted EBITDA of $265–$270 million, Adjusted EBITDA margin of about 40%, net income margin of about 8%, diluted EPS of $0.57–$0.62 and Adjusted EPS of $1.32–$1.36.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Loar Holdings Inc. announced its financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.
The information in Item 2.02 and in the accompanying Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
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Description |
99.1 |
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Press release issued by Loar Holdings Inc. on August 6, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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August 6, 2026 |
By: |
/s/ Glenn D’Alessandro |
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Glenn D’Alessandro |
Exhibit 99.1
Loar Holdings Inc. Reports Q2 2026 Record Results and Upward Revision to 2026 Outlook
August 6, 2026
WHITE PLAINS, NY., August 6, 2026 /ACCESSWIRE/ -- Loar Holdings Inc. (NYSE: LOAR) (the “Company,” “Loar,” “we,” “us” and “our”), reported record results for the second quarter of 2026.
"Through the first half of the year the business continues to outperform our expectations, driven by exceptional demand across our end-markets and strong conversion of our new business pipeline. Of the approximately $750 million in our pipeline, we secured initial orders which provide visibility to approximately $200 million of revenue over the next five years," said Dirkson Charles, Loar Holdings Chief Executive Officer and Executive Co-Chairman of the Board of Directors.
Second Quarter 2026
Loar reported net sales for the quarter of $171.6 million, an increase of $48.5 million or 39.4% over the prior year’s quarter. Organically,(1) net sales increased 12.3% or $15.1 million, to $138.3 million.
Net income for the quarter was $16.7 million, equal to the prior year’s quarter. Net income for the quarter was impacted by higher interest expense and higher non-cash amortization of acquired intangible assets.
Adjusted EBITDA for the quarter was $69.4 million, an increase of 47.4% or $22.3 million compared to the prior year’s quarter. Adjusted EBITDA Margin was 40.5%, compared to 38.3% in the second quarter of the prior year. The increase in Adjusted EBITDA Margin was due to the execution of our strategic value drivers and the accretive impact of increased sales.
Year-to-Date
Loar reported net sales for the six months ended June 30, 2026 of $327.7 million, an increase of $89.9 million or 37.8% over the comparable period of the prior year. Organically,(1) net sales increased 11.9% or $28.2 million, to $266.0 million.
Net income for year-to-date June 30, 2026 was $27.9 million, a decrease of $4.1 million compared to the same period of the prior year. The decrease in net income was primarily driven by higher interest expense, higher non-cash amortization of acquired intangible assets, and non-cash expense of inventory step-up attributable to the acquisitions of LMB and Harper Engineering.
Adjusted EBITDA for the first six months of 2026 was $132.7 million, an increase of 47.0% or $42.4 million over the comparable period of the prior year. Adjusted EBITDA Margin was 40.5%, compared to 38.0% for the comparable prior year period. The increase in Adjusted EBITDA Margin was due to the execution of our strategic value drivers and the accretive impact of increased sales.
Please see the attached Table 4 for a reconciliation of net income to EBITDA, Adjusted EBITDA and
Adjusted EBITDA Margin for the periods discussed in this press release.
(1) |
Net organic sales represent net sales from our existing businesses for comparable periods and exclude net sales from acquisitions. We include net sales from new acquisitions in net organic sales from the 13th month after the acquisition on a comparative basis with the prior period. |
Full Year 2026 Outlook – Revised
“Our Q2 and year-to-date results reflect the strength and consistency of Loar’s operating model. Achieving Adjusted EBITDA Margin above 40% for the second consecutive quarter underscores the quality of our portfolio, robust demand across our end markets, and our disciplined focus on executing our strategic value drivers,” said Glenn D’Alessandro, Loar Holdings Treasurer and Chief Financial Officer. “As we look ahead, we remain well positioned to capitalize on attractive growth opportunities while continuing to deliver strong results.” Our outlook for the full year 2026 includes:
Adjusted EBITDA, Adjusted Earnings Per Share and Adjusted EBITDA Margin are non-GAAP financial measures provided in the “Full Year 2026 Outlook – Revised” section on a forward-looking basis. The Company does not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with GAAP because to do so would be potentially misleading and not practical given the difficulty of projecting event-driven transactional and other non-core operating items in any future period. The magnitude of these items, however, may be significant.
Earnings Conference Call
A conference call will be held at 11:00 a.m., Eastern Time on August 6, 2026. To participate in the call telephonically please dial +1 877-407-0670 / +1 215-268-9902. International participants can find a list of toll-free numbers here. A live audio webcast will also be available at the following link as well as through the Investor section of Loar Holdings website; https://ir.loargroup.com.
The webcast will be archived and available for replay later in the day.
About Loar Holdings Inc.
Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today’s aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.
Non-GAAP Supplemental Information
We present in this press release certain financial information based on our EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share. References to “EBITDA” mean earnings before interest, taxes, depreciation and amortization, references to “Adjusted EBITDA” mean EBITDA plus, as applicable for each relevant period, certain adjustments as set forth in the reconciliations of net income to EBITDA and Adjusted EBITDA, and references to “Adjusted EBITDA Margin” refer to Adjusted EBITDA divided by net sales. References to “Adjusted Net Income” mean net income plus certain adjustments as set forth in the reconciliations below to derive Adjusted EBITDA from EBITDA and the amortization of acquired intangible assets, less the tax effect of these adjustments. References to "Adjusted Earnings Per Share" mean Adjusted Net Income divided by weighted average common shares outstanding—diluted. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share are not measurements of financial performance under U.S. GAAP. We present EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share because we believe they are useful indicators for evaluating operating performance. In addition, our management uses Adjusted EBITDA to review and assess the performance of the management team in connection with employee incentive programs and to prepare its annual budget and financial projections. Moreover, our management uses Adjusted EBITDA of target companies to evaluate acquisitions.
Although we use EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share as measures to assess the performance of our business and for the other purposes
set forth above, the use of non-GAAP financial measures as analytical tools has limitations, and you should not consider any of them in isolation, or as a substitute for analysis of our results of operations as reported in accordance with U.S. GAAP. Some of these limitations are:
Because of these limitations, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share should not be considered as measures of cash available to us to invest in the growth of our business. Management compensates for these limitations by not viewing EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share in isolation and specifically by using other U.S. GAAP measures, such as net sales and operating profit, to measure our operating performance. EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share are not measurements of financial performance under U.S. GAAP, and they should not be considered as alternatives to net income or cash flow from operations determined in accordance with U.S. GAAP. Our calculations of EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Earnings Per Share may not be comparable to the calculations of similarly titled measures reported by other companies.
Future Looking Statements
This press release includes express or implied forward-looking statements. Forward-looking statements include all statements that are not historical facts, including those that reflect our current views with respect to, among other things, our operations and financial performance. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words or similar terms and phrases may identify forward-looking statements in this press release, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release, including, but not limited to, the statements under the heading “Full Year 2026 Outlook – Revised” are based on management’s current expectations and are not guarantees of future performance. Our expectations and beliefs are expressed in management’s good faith, and we believe there is a reasonable basis for them, however, the forward-looking statements are subject to various known and unknown risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control. We believe that these factors include but are not limited to the following: the almost exclusive focus of our business on the aerospace and
defense industry; our heavy reliance on certain customers for a significant portion of our sales; the fact that we have in the past consummated acquisitions and our intention to continue to pursue acquisitions, and that our business may be adversely affected if we cannot consummate acquisitions on satisfactory terms, or if we cannot effectively integrate acquired operations; and the other risks and uncertainties described in Part I, Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”), and other periodic reports filed by the Company from time to time with the SEC.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in the forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable law.
Contact
Ian McKillop
Loar Holdings Inc. Investor Relations
IR@loargroup.com
Loar Holdings Inc.
Table 1: Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands except share amounts)
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June 30, 2026 |
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December 31, 2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
122,433 |
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$ |
84,827 |
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Accounts receivable, net |
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106,989 |
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88,026 |
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Inventories |
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127,605 |
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109,036 |
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Other current assets |
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12,768 |
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11,123 |
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Income taxes receivable |
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5,349 |
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5,486 |
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Total current assets |
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375,144 |
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298,498 |
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Property, plant and equipment, net |
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88,038 |
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82,536 |
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Finance lease assets |
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1,755 |
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1,894 |
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Operating lease assets |
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12,274 |
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6,229 |
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Other long-term assets |
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29,206 |
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25,935 |
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Intangible assets, net |
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739,129 |
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606,406 |
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Goodwill |
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1,080,502 |
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1,008,377 |
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Total assets |
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$ |
2,326,048 |
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$ |
2,029,875 |
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Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable |
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$ |
29,442 |
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$ |
18,606 |
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Current portion of long-term debt, net |
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6,728 |
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4,362 |
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Current portion of finance lease liabilities |
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304 |
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279 |
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Current portion of operating lease liabilities |
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1,272 |
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818 |
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Income taxes payable |
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2,268 |
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3,022 |
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Accrued expenses and other current liabilities |
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36,438 |
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36,419 |
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Total current liabilities |
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76,452 |
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63,506 |
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Deferred income taxes |
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73,771 |
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68,377 |
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Long-term debt, net |
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942,598 |
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711,338 |
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Finance lease liabilities |
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2,732 |
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2,891 |
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Operating lease liabilities |
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11,213 |
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5,605 |
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Other long-term liabilities |
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19,888 |
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3,405 |
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Total liabilities |
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1,126,654 |
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855,122 |
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Commitments and contingencies |
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Stockholders' equity: |
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Preferred stock, $0.01 par value, 1,000,000 shares authorized, and no shares issued or outstanding |
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— |
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— |
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Common stock, $0.01 par value, 485,000,000 shares authorized; 93,684,471 and 93,622,471 issued and outstanding at June 30, 2026 and December 31, 2025, respectively |
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937 |
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936 |
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Additional paid-in capital |
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1,136,009 |
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1,125,015 |
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Retained earnings |
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79,471 |
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51,586 |
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Accumulated other comprehensive loss |
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(17,023 |
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(2,784 |
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Total stockholders' equity |
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1,199,394 |
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1,174,753 |
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Total liabilities and stockholders' equity |
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$ |
2,326,048 |
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$ |
2,029,875 |
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Loar Holdings Inc.
Table 2: Condensed Consolidated Statements of Income
(Unaudited, amounts in thousands except per common share amounts)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Net sales |
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$ |
171,579 |
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$ |
123,123 |
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$ |
327,667 |
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$ |
237,782 |
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Cost of sales |
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80,377 |
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56,924 |
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157,224 |
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111,877 |
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Gross profit |
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91,202 |
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66,199 |
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170,443 |
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125,905 |
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Selling, general and administrative expenses |
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46,522 |
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36,898 |
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91,007 |
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70,000 |
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Transaction expenses |
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1,561 |
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1,984 |
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2,800 |
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2,444 |
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Other expense |
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1,267 |
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— |
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1,267 |
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— |
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Operating income |
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41,852 |
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27,317 |
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75,369 |
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53,461 |
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Interest expense, net |
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20,014 |
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6,481 |
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38,724 |
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12,940 |
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Income before income taxes |
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21,838 |
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20,836 |
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36,645 |
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40,521 |
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Income tax provision |
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5,096 |
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4,123 |
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8,760 |
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8,492 |
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Net income |
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$ |
16,742 |
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$ |
16,713 |
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$ |
27,885 |
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$ |
32,029 |
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Earnings per share: |
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Basic |
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$ |
0.18 |
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$ |
0.18 |
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$ |
0.30 |
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$ |
0.34 |
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Diluted |
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$ |
0.18 |
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$ |
0.17 |
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$ |
0.29 |
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$ |
0.33 |
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Weighted average common shares outstanding: |
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Basic |
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93,647 |
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93,586 |
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93,635 |
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93,571 |
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Diluted |
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95,521 |
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96,113 |
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95,586 |
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95,933 |
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Loar Holdings Inc.
Table 3: Condensed Consolidated Statements of Cash Flows
(Unaudited, amounts in thousands)
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Six Months Ended June 30, |
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2026 |
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2025 |
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Operating activities |
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Net income |
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$ |
27,885 |
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$ |
32,029 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation |
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6,626 |
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5,948 |
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Amortization of intangible and other long-term assets |
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32,260 |
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19,197 |
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Amortization of debt issuance costs |
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1,923 |
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447 |
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Recognition of inventory step-up |
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4,916 |
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— |
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Stock-based compensation |
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8,973 |
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6,739 |
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Deferred income taxes |
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950 |
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884 |
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Non-cash lease expense |
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670 |
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313 |
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Adjustment to contingent consideration liability |
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1,267 |
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— |
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Changes in assets and liabilities, net of acquisitions: |
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Accounts receivable |
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(13,788 |
) |
|
|
(7,653 |
) |
Inventories |
|
|
(12,275 |
) |
|
|
(6,198 |
) |
Other assets |
|
|
(5,283 |
) |
|
|
(3,421 |
) |
Accounts payable |
|
|
10,886 |
|
|
|
3,851 |
|
Income taxes (receivable) payable |
|
|
(233 |
) |
|
|
890 |
|
Accrued expenses and other current liabilities |
|
|
(2,930 |
) |
|
|
(571 |
) |
Operating lease liabilities |
|
|
(645 |
) |
|
|
(292 |
) |
Net cash provided by operating activities |
|
|
61,202 |
|
|
|
52,163 |
|
|
|
|
|
|
|
|
||
Investing activities |
|
|
|
|
|
|
||
Capital expenditures |
|
|
(6,973 |
) |
|
|
(4,718 |
) |
Payment for acquisitions, net of cash acquired |
|
|
(249,841 |
) |
|
|
— |
|
Net cash used in investing activities |
|
|
(256,814 |
) |
|
|
(4,718 |
) |
|
|
|
|
|
|
|
||
Financing activities |
|
|
|
|
|
|
||
Net proceeds from issuance of common stock |
|
|
2,022 |
|
|
|
1,859 |
|
Proceeds from issuance of long-term debt |
|
|
240,000 |
|
|
|
— |
|
Payments of long-term debt |
|
|
(3,425 |
) |
|
|
— |
|
Financing costs |
|
|
(4,800 |
) |
|
|
— |
|
Payments of finance lease liabilities |
|
|
(133 |
) |
|
|
(110 |
) |
Net cash provided by financing activities |
|
|
233,664 |
|
|
|
1,749 |
|
|
|
|
|
|
|
|
||
Effect of translation adjustments on cash and cash equivalents |
|
|
(446 |
) |
|
|
82 |
|
Net increase in cash, cash equivalents and restricted cash |
|
|
37,606 |
|
|
|
49,276 |
|
|
|
|
|
|
|
|
||
Cash, cash equivalents and restricted cash, beginning of period |
|
|
84,827 |
|
|
|
54,066 |
|
Cash, cash equivalents and restricted cash, end of period |
|
$ |
122,433 |
|
|
$ |
103,342 |
|
|
|
|
|
|
|
|
||
Supplemental information |
|
|
|
|
|
|
||
Interest paid during the period, net of capitalized amounts |
|
$ |
38,279 |
|
|
$ |
13,056 |
|
Income taxes paid during the period, net |
|
$ |
7,742 |
|
|
$ |
7,061 |
|
Loar Holdings Inc.
Table 4: Reconciliation of Net income to EBITDA and Adjusted EBITDA
(Unaudited, amounts in thousands)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net income |
|
$ |
16,742 |
|
|
$ |
16,713 |
|
|
$ |
27,885 |
|
|
$ |
32,029 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest expense, net |
|
|
20,014 |
|
|
|
6,481 |
|
|
|
38,724 |
|
|
|
12,940 |
|
Income tax provision |
|
|
5,096 |
|
|
|
4,123 |
|
|
|
8,760 |
|
|
|
8,492 |
|
Operating income |
|
|
41,852 |
|
|
|
27,317 |
|
|
|
75,369 |
|
|
|
53,461 |
|
Depreciation |
|
|
3,374 |
|
|
|
3,050 |
|
|
|
6,626 |
|
|
|
5,948 |
|
Amortization |
|
|
16,570 |
|
|
|
9,637 |
|
|
|
32,260 |
|
|
|
19,197 |
|
EBITDA |
|
|
61,796 |
|
|
|
40,004 |
|
|
|
114,255 |
|
|
|
78,606 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Recognition of inventory step-up (1) |
|
|
— |
|
|
|
— |
|
|
|
4,916 |
|
|
|
— |
|
Other expense (2) |
|
|
1,267 |
|
|
|
— |
|
|
|
1,267 |
|
|
|
— |
|
Transaction expenses (3) |
|
|
1,561 |
|
|
|
1,984 |
|
|
|
2,800 |
|
|
|
2,444 |
|
Stock-based compensation (4) |
|
|
4,581 |
|
|
|
3,650 |
|
|
|
8,973 |
|
|
|
6,739 |
|
Acquisition and facility integration costs (5) |
|
|
244 |
|
|
|
1,480 |
|
|
|
457 |
|
|
|
2,462 |
|
Adjusted EBITDA |
|
$ |
69,449 |
|
|
$ |
47,118 |
|
|
$ |
132,668 |
|
|
$ |
90,251 |
|
Net sales |
|
$ |
171,579 |
|
|
$ |
123,123 |
|
|
$ |
327,667 |
|
|
$ |
237,782 |
|
Net income margin |
|
|
9.8 |
% |
|
|
13.6 |
% |
|
|
8.5 |
% |
|
|
13.5 |
% |
Adjusted EBITDA Margin |
|
|
40.5 |
% |
|
|
38.3 |
% |
|
|
40.5 |
% |
|
|
38.0 |
% |
Loar Holdings Inc.
Table 5: Sales by End-Market
(Unaudited, amounts in thousands)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Commercial Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial aerospace OEM |
|
$ |
37,160 |
|
|
$ |
19,440 |
|
|
$ |
68,681 |
|
|
$ |
35,504 |
|
Commercial aerospace aftermarket |
|
|
46,256 |
|
|
|
34,836 |
|
|
|
89,771 |
|
|
|
67,239 |
|
Total commercial aerospace |
|
|
83,416 |
|
|
|
54,276 |
|
|
|
158,452 |
|
|
|
102,743 |
|
Business jet & general aviation OEM |
|
|
20,304 |
|
|
|
17,895 |
|
|
|
39,937 |
|
|
|
37,318 |
|
Business jet & general aviation aftermarket |
|
|
13,099 |
|
|
|
12,267 |
|
|
|
24,165 |
|
|
|
23,702 |
|
Total business jet & general aviation |
|
|
33,403 |
|
|
|
30,162 |
|
|
|
64,102 |
|
|
|
61,020 |
|
Total commercial OEM |
|
|
57,464 |
|
|
|
37,335 |
|
|
|
108,618 |
|
|
|
72,822 |
|
Total commercial aftermarket |
|
|
59,355 |
|
|
|
47,103 |
|
|
|
113,936 |
|
|
|
90,941 |
|
Total commercial |
|
|
116,819 |
|
|
|
84,438 |
|
|
|
222,554 |
|
|
|
163,763 |
|
Defense Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total defense OEM |
|
|
26,971 |
|
|
|
14,332 |
|
|
|
50,013 |
|
|
|
26,058 |
|
Total defense aftermarket |
|
|
18,062 |
|
|
|
17,139 |
|
|
|
35,669 |
|
|
|
34,195 |
|
Total defense |
|
|
45,033 |
|
|
|
31,471 |
|
|
|
85,682 |
|
|
|
60,253 |
|
Other Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total other OEM |
|
|
5,001 |
|
|
|
2,655 |
|
|
|
9,769 |
|
|
|
5,521 |
|
Total other aftermarket |
|
|
4,726 |
|
|
|
4,559 |
|
|
|
9,662 |
|
|
|
8,245 |
|
Total other |
|
|
9,727 |
|
|
|
7,214 |
|
|
|
19,431 |
|
|
|
13,766 |
|
Net Sales |
|
$ |
171,579 |
|
|
$ |
123,123 |
|
|
|
327,667 |
|
|
$ |
237,782 |
|
Loar Holdings Inc.
Table 6: Reconciliations of Earnings Per Share to Adjusted Earnings Per Share and Net Income to Adjusted Net Income
(Unaudited, amounts in thousands except per share amounts)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
||||
Reported earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
|
$ |
16,742 |
|
|
$ |
16,713 |
|
|
$ |
27,885 |
|
|
$ |
32,029 |
|
|
Denominator for basic and diluted earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted-average common shares outstanding—basic |
|
|
93,647 |
|
|
|
93,586 |
|
|
|
93,635 |
|
|
|
93,571 |
|
|
Effect of dilutive common shares |
|
|
1,874 |
|
|
|
2,527 |
|
|
|
1,951 |
|
|
|
2,362 |
|
|
Weighted average common shares outstanding—diluted |
|
|
95,521 |
|
|
|
96,113 |
|
|
|
95,586 |
|
|
|
95,933 |
|
|
Earnings per share—basic |
|
$ |
0.18 |
|
|
$ |
0.18 |
|
|
$ |
0.30 |
|
|
$ |
0.34 |
|
|
Earnings per share—diluted |
|
$ |
0.18 |
|
|
$ |
0.17 |
|
|
$ |
0.29 |
|
|
$ |
0.33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted Earnings Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
|
$ |
16,742 |
|
|
$ |
16,713 |
|
|
$ |
27,885 |
|
|
$ |
32,029 |
|
|
Gross adjustments to EBITDA |
|
|
7,653 |
|
|
|
7,114 |
|
|
|
18,413 |
|
|
|
11,645 |
|
|
Amortization of acquired intangible assets (1) |
|
|
16,570 |
|
|
|
9,637 |
|
|
|
32,260 |
|
|
|
19,197 |
|
|
Tax adjustment (2) |
|
|
(4,713 |
) |
|
|
(3,468 |
) |
|
|
(10,047 |
) |
|
|
(5,923 |
) |
|
Adjusted Net Income |
|
$ |
36,252 |
|
|
$ |
29,996 |
|
|
$ |
68,511 |
|
|
$ |
56,948 |
|
|
Adjusted Earnings Per Share—diluted |
|
$ |
0.38 |
|
|
$ |
0.31 |
|
|
$ |
0.72 |
|
|
$ |
0.59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share to Adjusted Earnings Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per share—diluted |
|
$ |
0.18 |
|
|
$ |
0.17 |
|
|
$ |
0.29 |
|
|
$ |
0.33 |
|
|
Adjustments to diluted earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Other expense |
|
|
0.01 |
|
|
|
— |
|
|
|
0.01 |
|
|
|
— |
|
|
Recognition of inventory step-up |
|
|
— |
|
|
|
— |
|
|
|
0.05 |
|
|
|
— |
|
|
Transaction expenses |
|
|
0.02 |
|
|
|
0.02 |
|
|
|
0.03 |
|
|
|
0.02 |
|
|
Stock-based compensation |
|
|
0.05 |
|
|
|
0.04 |
|
|
|
0.09 |
|
|
|
0.07 |
|
|
Acquisition and facility integration costs |
|
|
— |
|
|
|
0.01 |
|
|
|
0.01 |
|
|
|
0.03 |
|
|
Gross adjustments to EBITDA |
|
|
0.08 |
|
|
|
0.07 |
|
|
|
0.19 |
|
|
|
0.12 |
|
|
Amortization of acquired intangible assets (1) |
|
|
0.17 |
|
|
|
0.10 |
|
|
|
0.34 |
|
|
|
0.20 |
|
|
Tax adjustment (2) |
|
|
(0.05 |
) |
|
|
(0.03 |
) |
|
|
(0.10 |
) |
|
|
(0.06 |
) |
|
Adjusted Earnings Per Share—diluted |
|
$ |
0.38 |
|
|
$ |
0.31 |
|
|
$ |
0.72 |
|
|
$ |
0.59 |
|
|