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. (NASDAQ: NNBR) is frequently featured in corporate and financial news as a global diversified industrial company that engineers and manufactures high-precision components and assemblies. Company press releases highlight developments across its Mobile Solutions and Power Solutions segments, strategic initiatives, and updates on its global operations.
News coverage for NN often includes earnings announcements and quarterly updates, where the company reports segment performance, changes in net sales, gross margin trends, adjusted EBITDA, and free cash flow. These releases also discuss factors such as cost reduction programs, sales mix, and rationalization of underperforming business within Mobile Solutions and Power Solutions.
Investors following NNBR news will also see strategic and corporate updates, such as the formation of a Strategic Committee of the Board of Directors to evaluate strategic, financing, and business configuration alternatives. The company has publicized preferred equity refinancing initiatives, an active mergers and acquisitions program, and its efforts to advance a multi-year transformation plan.
Additional news items cover commercial and operational developments, including new business wins, program launches, and expansion of aerospace and defense capabilities supported by ITAR registration and a Federal Firearms License. NN has also issued releases on its joint venture in China, investor conference presentations, and leadership changes in areas such as information technology and cybersecurity.
By reviewing the NNBR news page, readers can track how NN communicates its financial results, strategic reviews, M&A activity, capital structure initiatives, and growth efforts in automotive, industrial, medical, aerospace, and defense markets over time.
NN, Inc. (NASDAQ: NNBR) reported Q4 and full-year 2021 results. Q4 net sales decreased by 7.3% to $110.4 million, attributed to lower Mobile Solutions sales due to semiconductor shortages, while Power Solutions showed growth. The company recorded a net income of $0.5 million in Q4, significantly down from $147.4 million in 2020 due to prior year's gains. For 2021, sales increased by 11.7% to $477.6 million, with adjusted EBITDA at $52.1 million. Looking ahead, 2022 revenue is projected between $515 million and $540 million, assuming normal semiconductor supply.
NN, Inc. (NASDAQ: NNBR) announced an amendment to its $150 million term loan with Oaktree Capital Management. This amendment increases the maximum total leverage ratio covenants for 2022 and 2023, providing the company with enhanced flexibility during challenging macroeconomic conditions. The CEO expressed optimism that pricing actions taken to mitigate inflation will lead to improved profitability in 2022. The amendment does not alter the interest rate on the loan, which remains stable under the revised terms.
NN, Inc. (NASDAQ: NNBR) announced the closure of its manufacturing facility in Taunton, Massachusetts, part of efforts to optimize its Aerospace, Defense, and Medical manufacturing footprint. The decision aims to improve profitability and cash flow, following an operating loss of $4.7 million attributed to under-utilization at the site. Costs related to the closure are estimated between $1 to $1.5 million for severance and equipment relocation. Approximately 85 employees will be affected, with support offered for those not transferred to other facilities.
NN, Inc. (NASDAQ: NNBR) announced its upcoming release of fourth quarter 2021 financial results on March 10, 2022, after market close. A conference call will follow on March 11 at 9:00 a.m. EDT. Participants can join by registering via phone or through the company's Investor Relations website. The call will be available for replay until March 11, 2023. NN, Inc. specializes in providing high-precision components globally, leveraging advanced engineering and extensive materials science expertise.
NN, Inc. (NASDAQ: NNBR) announced J. Andrew Wall's appointment as Senior VP and Chief Commercial Officer, effective January 10, 2022. Wall will focus on driving global commercial strategy and business development, particularly in electric vehicles and grid infrastructure. He has over 15 years of experience in the electrical power industry, previously holding key roles at ABB. The company aims to capitalize on market growth and enhance customer relations through Wall's expertise in sales and marketing.
NN, Inc. (NASDAQ: NNBR) reported third-quarter 2021 financial results with net sales rising 3.1% to $117.2 million, attributed to recovery in Power Solutions, while Mobile Solutions faced a 2.5% sales decline. Loss from operations grew to $4.6 million, impacted by cost reinstatements and supply chain challenges. Net loss reached $3.4 million compared to a profit of $22 million last year, largely due to discontinued operations. Adjusted EBITDA fell to $9.7 million, and free cash flow showed a use of $3.7 million. Despite growth in Power Solutions, broader inflation and supply chain issues posed challenges.
NN, Inc. (NASDAQ: NNBR) will release its third quarter 2021 financial results on November 4, 2021, after the market closes. A conference call scheduled for November 5 at 9:00 a.m. EDT will provide insights into the results. Participants can register by calling 1-877-317-6789. The call will also be available via webcast on the company's website. NN operates 31 facilities globally, focusing on high-precision components and systems. Forward-looking statements regarding financial performance will be discussed, highlighting potential risks and uncertainties associated with the company's operations.
NN, Inc. (NASDAQ: NNBR) announced that CEO Warren Veltman and CFO Mike Felcher will attend the Lake Street Capital Markets 5th Annual Best Ideas Growth (BIG5) Conference on September 14, 2021. During the event, management will hold one-on-one investor meetings to discuss the company's strategic outlook. The presentation will be accessible via NN's investor relations website prior to market opening on the same day. The BIG5 Conference features over 100 growth companies and is an invitation-only event for top institutional investors.
NN, Inc. (NASDAQ: NNBR) reported a strong second quarter for 2021 with net sales reaching $123.2 million, a 56.8% increase from $78.5 million in 2020, driven by demand recovery from COVID-19 impacts. Mobile Solutions sales surged 80%, while Power Solutions rose 31.4%. Loss from operations decreased to $1.6 million from $11.2 million year-over-year. The net loss also improved significantly to $5.4 million from $21.7 million in 2020. Adjusted EBITDA stood at $13.4 million, or 10.9% of sales, compared to $4.9 million in 2020. However, free cash flow was a usage of $7.5 million due to the sale of Life Sciences.
NN, Inc. (NASDAQ: NNBR) will release its Q2 2021 financial results on August 5, 2021, after market close. A conference call is scheduled for August 6, 2021, at 9:00 a.m. EDT, with registration required. Investors can also access a webcast through the company’s website. Founded in Charlotte, North Carolina, NN, Inc. specializes in manufacturing precision components globally. The press release highlights potential risks and uncertainties related to economic conditions and the pandemic's impact on operations.
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