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 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.
CHARLOTTE, N.C., June 15, 2021 /PRNewswire/ -- NN, Inc. (NASDAQ: NNBR) has appointed Mike Felcher as the new Senior Vice President and Chief Financial Officer effective July 1, 2021. He takes over from Tom DeByle, who is retiring but will assist in the transition until June 30, 2021. Felcher has been with NN since June 2018 as Chief Accounting Officer and has prior experience at JELD-WEN and United Technologies Corp. The CEO and Audit Committee Chairman highlighted Tom's contributions to company transformation and expressed confidence in Felcher's ability to drive future growth.
On May 14, 2021, NN, Inc. (NASDAQ: NNBR) announced the appointment of Dr. Rajeev Gautam to its Board of Directors, effective immediately. Dr. Gautam, CEO at Honeywell Performance Materials and Technologies, will also be nominated for election at the upcoming annual meeting on May 27, 2021. This appointment follows a cooperation agreement with Corre Partners Management, reflecting constructive discussions with shareholders. The addition aims to leverage Dr. Gautam’s extensive leadership experience to enhance NN's strategic direction and capitalize on growth opportunities.
NN, Inc. (NASDAQ: NNBR) reported a strong performance for Q1 2021, with net sales increasing by 9.1% to $126.8 million, driven largely by Mobile Solutions' growth of 11.3%. The company improved its income from operations to $1 million from a loss of $103.9 million year-over-year, aided by cost-reduction strategies. Adjusted net income reached $2.2 million, or $0.05 per diluted share. Free cash flow improved to $2.4 million. CEO Warren Veltman highlighted growth in North America and China, despite challenges in the Power Solutions segment due to external market pressures.
NN, Inc. (NASDAQ: NNBR) announced the release date for its first-quarter 2021 financial results, set for May 6, 2021, post-market. A conference call will follow on May 7, 2021, at 9:00 a.m. EDT, where participants can register in advance. The call will also be webcast and available for replay on their website until May 6, 2022. NN, Inc. operates 32 facilities globally, focusing on high-precision components and assemblies.
NN, Inc. (NASDAQ: NNBR) announced the appointment of João Faria to its Board of Directors, effective April 13, 2021. Faria, who has extensive experience in manufacturing and engineering, particularly in the electric vehicle sector, currently serves as President of the Vehicle Group/eMobility at Eaton Corporation. His global expertise in vehicle electrification is expected to enhance NN's growth strategies. Following this appointment, NN’s Board will consist of nine directors, with plans to reduce to eight after the retirement of Steven Warshaw.