Financial Performance - Preliminary Q4 2024 net sales are expected to be between $108.1 million and $110.1 million, up from $86.4 million in the prior year's quarter[4] - Preliminary Q4 2024 net income is projected to be between $2.7 million and $3.3 million, compared to a net loss of $0.6 million in the prior year's quarter[4] - Adjusted EBITDA for Q4 2024 is expected to be between $39.0 million and $39.8 million, an increase from $29.3 million in the prior year's quarter[4] - Full Year 2025 net sales guidance is between $470 million and $480 million, up from $317.5 million in the prior year[6] - Full Year 2025 net income guidance is between $55 million and $60 million, an increase from $33 million to $37 million in the prior year[6] - Adjusted EBITDA for Full Year 2025 is projected to be between $176 million and $180 million[6] - Net income for 2024 is projected to be between $21,207,000 and $21,814,000, compared to a loss of $4,615,000 in 2023[20] - Adjusted EBITDA for 2024 is expected to range from $145,200,000 to $146,000,000, up from $112,743,000 in 2023, reflecting a significant increase[20] - Net sales for 2024 are forecasted to be between $400,500,000 and $402,500,000, compared to $317,477,000 in 2023, indicating strong growth[20] - The net income margin for 2024 is estimated to be between 5.3% and 5.4%, a recovery from a negative margin of (1.5)% in 2023[20] - Adjusted EBITDA margin for 2024 is projected to be 36.3%, slightly up from 35.5% in 2023[20] Acquisition and Integration - Loar Holdings Inc. has entered into a put option to acquire 100% of LMB Fans & Motors for €365 million plus the assumption of net debt[1] - The acquisition of LMB is expected to close in Q3 2025, subject to regulatory approvals[3] - The company incurred $4,491,000 in acquisition and facility integration costs in 2023, which is expected to decrease in 2024[20] - The company reported a $2.9 million reduction in the estimated contingent purchase price for the CAV acquisition in 2024[21] - The company incurred third-party transaction-related costs for acquisitions, including deal fees and due diligence expenses, which are expensed as incurred[22] Growth Expectations - The company anticipates high single-digit growth in Commercial, Business Jet, and General Aviation OEM and aftermarket, and high double-digit growth in Defense[6] - Interest expense is expected to decrease to approximately $28 million from approximately $60 million[6] Compensation and Grants - The company recognized $11,103,000 in stock-based compensation in 2023, a significant increase from $372,000 in the previous year[20] - The company received a grant from the US Department of Transportation under the AMJP during the year ended December 31, 2023[21]
Loar Holdings Inc.(LOAR) - 2024 Q4 - Annual Results