Welcome to our dedicated page for Nn news (Ticker: NNBR), a resource for investors and traders seeking the latest updates and insights on Nn stock.
NN, Inc. reports developments tied to its role as a global diversified industrial manufacturer of high-precision components and assemblies. The company engineers and manufactures parts for automotive, electric grid and data center equipment, general industrial, medical, aerospace and defense, and related end markets through Mobile Solutions and Power Solutions activities.
Recurring NNBR news includes quarterly operating results, adjusted EBITDA and sales guidance, new business awards, customer programs, and the company's shift toward higher-value applications such as electric grid equipment, data center infrastructure, liquid-cooling products, silver-plated busbars and terminals, and safety-critical auto parts. Updates also cover capital resources, equipment acquisitions, investor presentations, and end-market growth initiatives.
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NN, Inc. (NASDAQ: NNBR) has announced a management transition plan due to the planned retirements of CEO Warren Veltman and EVP John Buchan, effective March 31, 2023. Korn Ferry will assist in identifying a new CEO with expertise in the electric and electrical vehicle industries. Gunars Vinkels and Douglas Campos have been named interim COOs for their respective divisions. Veltman highlighted the company’s progress in reducing debt and refining growth strategy, particularly in high-growth markets. The board aims to fill the CEO position with a proven leader in these areas.
NN, Inc. (NASDAQ: NNBR) reported an 8.6% increase in net sales to $127.3 million for Q3 2022, driven by improved pricing and demand in Mobile Solutions. Despite sales growth, operational losses narrowed to $2.1 million from $4.6 million year-over-year. Adjusted EBITDA rose to $11.8 million, reflecting a 9.3% margin. The company plans to close its Irvine facility, following a previous closure in Taunton, due to combined adjusted operating losses of $7.5 million. The full-year revenue guidance is revised to $503-$510 million, with a free cash flow outlook of ($12) to ($9) million.
NN, Inc. (NASDAQ: NNBR) announced it will release its third quarter 2022 financial results on November 1, 2022, after market close. A conference call to discuss these results will be held on November 2, 2022, at 9:00 a.m. EDT. Participants must register beforehand by calling 1-877-317-6789. The call will also be available as a webcast on the company's website. NN, Inc. is a global diversified industrial company with extensive engineering and manufacturing capabilities, operating 31 facilities across multiple continents.
NN, Inc. (NASDAQ: NNBR) announced the closure of its manufacturing facility in Irvine, California, as part of a strategic shift to enhance organic growth in the electric vehicle and infrastructure markets. This move follows another closure in Taunton, Massachusetts, and is expected to improve profitability and cash flow. The Irvine closure will affect approximately 55 employees, incurring around $1 million in severance and relocation costs. NN aims to relocate medical-related production and expects to complete the closure by Q1 2023, continuing its focus on operational optimization.
NN, Inc. (NASDAQ: NNBR) reported a 1.8% increase in net sales to $125.4 million for Q2 2022, despite ongoing supply chain disruptions and inflationary pressures. Loss from operations rose to $4.5 million, up from $1.6 million in Q2 2021. Key segments saw mixed results, with Power Solutions delivering $52.0 million in sales (+5.6%) and Mobile Solutions declining slightly to $73.4 million (-0.7%). Adjusted EBITDA decreased to $10.9 million, reflecting challenges in recovering costs. The company revised its 2022 revenue outlook to $510-$525 million, citing ongoing macroeconomic uncertainties.
NN, Inc. (NASDAQ: NNBR) announced it will release its Q2 2022 financial results on August 4, 2022, after market close. A conference call is scheduled for August 5, 2022, at 9:00 a.m. EDT, with registration required for participants. The call will be available via webcast on the company’s website, and a replay will be accessible until August 5, 2023. The company, headquartered in Charlotte, North Carolina, specializes in manufacturing high-precision components and assemblies globally, maintaining 31 facilities across various regions.
NN, Inc. (NASDAQ: NNBR) announced its 2022 Investor/Analyst Day will take place virtually on May 20 at 9:00 am ET. This event will involve presentations from the Executive Team and Board Members, covering the company’s strategy and financial goals. A Q&A session will allow participants to submit questions electronically. The event will be live-streamed, and a replay will be available post-event. NN, Inc. is a diversified industrial company focused on manufacturing high-precision components globally.
NN reported first-quarter results for 2022, emphasizing a revenue increase of 1.0% year-over-year, totaling $128.1 million. Adjusted EBITDA stood at $13.4 million, reflecting 10.5% of sales. Despite challenges, including supply chain disruptions impacting customer demand, net losses decreased to $3.3 million from $4.9 million in 2021, thanks to improved performance from a joint venture. Looking ahead, the company projects revenue between $515 million and $540 million for 2022.
NN, Inc. (NASDAQ: NNBR) will release its Q1 2022 financial results on May 5, 2022, after market close. A conference call is scheduled for May 6, 2022, at 9:00 a.m. EDT, where participants must register prior to the start. The call will also be available via webcast on the company’s website. NN, Inc. specializes in high-precision components and assemblies, operating 31 facilities globally. The company warns that future performance could be affected by numerous risks, including economic conditions and supply chain issues.