AcquisitionsMay 7, 2026, 09:06 AM
Loar Holdings Acquires Harper Engineering; Q1 Net Sales Up 36.1%
AI Summary
Loar Holdings Inc. reported its first-quarter 2026 financial results, with net sales increasing significantly to $156.1 million, driven by recent acquisitions. However, net income decreased to $11.1 million, and diluted EPS fell to $0.12, primarily due to a substantial rise in interest expense related to financing these acquisitions. The company completed the acquisition of Harper Engineering for $249.9 million during the quarter, further expanding its aerospace and defense component portfolio.
Key Highlights
- Acquired Harper Engineering for $249.9 million in cash on January 21, 2026.
- Net sales increased 36.1% to $156.1 million for Q1 2026, up from $114.7 million in Q1 2025.
- Net income decreased 27.2% to $11.1 million for Q1 2026, compared to $15.3 million in Q1 2025.
- Diluted EPS was $0.12 for Q1 2026, down from $0.16 in Q1 2025.
- Adjusted EBITDA rose 46.6% to $63.2 million in Q1 2026, from $43.1 million in Q1 2025.
- Interest expense, net, surged to $18.7 million in Q1 2026, from $6.5 million in Q1 2025.
- Total long-term debt, net, increased to $943.3 million at March 31, 2026, from $711.3 million at December 31, 2025.
- Commercial aerospace net sales grew 54.8% to $75.0 million in Q1 2026.