11:05 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Loar Holdings ( LOAR ) shares were up nearly 15% in recent trading on Tuesday, after the company raised its full-year 2024 adjusted earnings and net sales guidance.

The company reported Q2 adjusted earnings of $0.13 per diluted share. The aerospace and defense components supplier, which priced its initial public offering in April, did not provide comparable figures from a year earlier.

Four analysts polled by Capital IQ expected $0.10.

Net sales for the quarter ended June 30 were $97 million, up from $74 million a year earlier.

Three analysts surveyed by Capital IQ expected $91.7 million.

The company said it now expects 2024 adjusted earnings to be between $0.44 to $0.46 per share, up from its prior range of $0.41 to $0.43. Four analysts polled by Capital IQ expect $0.42.

Net sales for the year are now expected in the range of $374 million to $378 million, up from its prior outlook of $370 million to $374 million. Four analysts surveyed by Capital IQ expect $373.2 million.

Price: 71.56, Change: +9.25, Percent Change: +14.85