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.
NN, Inc. (NASDAQ: NNBR), a global industrial company, announced record-setting new business wins for the second consecutive year, totaling $73 million in 2024. This brings the two-year total to $136 million. Key areas of new business include vehicle control, energy efficiency, electrical grid devices, and medical components.
Highlights:
- 2024 new business wins: $73 million
- 2023 new business wins: $63 million
- 2022 new business wins: $38.5 million
- Five-year goal: $325 million in new business wins, targeting $600 million in sales and 13% adjusted EBITDA margins
- 2025 new business pipeline: Over $720 million
- 50 new business programs launching in Q1 2025
- 80 new programs expected for full-year 2025
- 2025 Q1 launches: 50 programs from 11 plants across the US, Brazil, France, Poland, and China, totaling $20.8 million in annualized sales
- Key focus areas: Electrical Power ($250+ million), Vehicle Control ($100+ million), Fuel Efficiency & Hybrid ($100+ million), Medical and Industrial ($100+ million)
CEO Harold Bevis highlighted the company's commitment to innovation and growth, aiming to become an elite supplier in targeted markets. The company's new business acquisition pace will continue into 2025 and 2026, supported by a $720 million pipeline.
NN Inc. (NASDAQ: NNBR) has secured a new $50 million asset-backed senior secured revolving credit facility (ABL). The new ABL Credit Agreement, underwritten by PNC Bank, will mature on either December 30, 2029, or 90 days prior to the company's term loan maturity date, whichever comes first.
The proceeds from this facility were used to refinance outstanding obligations under the company's existing asset-backed loan agreement. According to CFO Chris Bohnert, this refinancing represents a significant step in their comprehensive refinancing efforts, with the favorable terms reflecting market confidence in the company's transformation initiatives.
NN Inc (NASDAQ: NNBR), a global diversified industrial company specializing in high-precision components and assemblies, has announced its participation in the Noble Capital Markets' NobleCon20 conference. Chris Bohnert, SVP and CFO, will deliver a presentation on December 3rd at 1:30 p.m. ET at Florida Atlantic University's Executive Education Complex. The management team will also engage in one-on-one and group meetings with registered investors. Presentation materials will be accessible through the investor section of NN's website.
NN, Inc. (NASDAQ: NNBR) announced that its executive management team will present at the Gabelli Funds 48th Annual Automotive Symposium in Las Vegas on November 4, 2024. Harold Bevis, President and CEO, and Chris Bohnert, Senior VP and CFO, will deliver their presentation at 11:20 a.m. PT (2:20 p.m. ET). Investors can register online to access the live event, and presentation materials will be available through the investor section of NN's website. The management team will also conduct one-on-one and group meetings with investors and analysts attending the conference.
NN Inc. (NNBR) reported Q3 2024 financial results with net sales of $113.6 million, down 8.7% from Q3 2023. The company posted a net loss of $2.6 million and adjusted EBITDA of $11.6 million (10.2% of sales). New business wins reached $15 million in Q3, with year-to-date totals of $49 million. China sales grew 19% year-over-year. The company implemented a $2 million annualized cost-reduction program and reduced its leverage ratio to 2.97x. NN maintains its 2024 outlook with revenue guidance of $465-485 million and adjusted EBITDA of $47-51 million.
NN Inc. (NASDAQ: NNBR) has rescheduled its third quarter 2024 earnings release to October 30, 2024, after market close, one day earlier than initially planned. The company, which engineers and manufactures high-precision components and assemblies, will host its earnings conference call on October 31, 2024, at 9:00 a.m. E.T. Participants can join via phone or webcast through the company's Investor Relations website, with replay available until October 31, 2025.
NN, Inc. (NASDAQ: NNBR), a global diversified industrial company, has announced its plan to release third quarter 2024 financial results on Thursday, October 31st, 2024, after market close. The company will host a conference call to discuss these results on Friday, November 1st, 2024, at 9:00 a.m. E.T.
Participants can join the call by dialing 1-877-255-4315 (U.S.) or 1-412-317-6579 (outside U.S.). The call will also be webcast through NN's Investor Relations website. For those unable to attend live, a replay will be available on the company's website until November 1st, 2025.
NN, Inc. (NASDAQ: NNBR) reported its Q2 2024 financial results, showing continued profitability improvement driven by its strategic transformation plan. Key highlights include:
- Net sales of $123.0 million, down 1.8% year-over-year
- Operating loss of $2.1 million, a 47.5% improvement
- Adjusted EBITDA of $13.4 million, up 27.6%
- New business awards of $34.3 million year-to-date
- Sale of non-core plastics plant, using $15.4 million to pay down debt
The company reaffirmed its full-year 2024 outlook, projecting revenue between $465-485 million and adjusted EBITDA of $47-51 million. NN continues to focus on profitability enhancement, operational performance, and accelerating new business wins.
NN, Inc. (NASDAQ: NNBR), a global diversified industrial company, has announced its plans to release second quarter 2024 financial results on August 7, 2024, after market close. The company will host a conference call to discuss these results on August 8, 2024, at 10 a.m. E.T. Participants can join the call by dialing 1-877-255-4315 (U.S.) or 1-412-317-6579 (outside U.S.). The call will also be webcast live through NN's Investor Relations website. For those unable to attend, a replay will be available on the company's website until August 8, 2025.
NN, Inc. (NASDAQ: NNBR) has appointed Jami Statham as the new Senior Vice President, General Counsel, and Corporate Secretary. Statham brings nearly two decades of legal experience in automotive manufacturing, negotiation, and litigation. Reporting directly to CEO Harold Bevis, she is expected to enhance NN's legal and compliance strategies. Statham's background includes roles at Nexteer Automotive, Autoneum North America, and Akebono Brake Her expertise includes managing legal matters like customer negotiations and supply chain issues. Statham’s appointment is seen as a strategic move to strengthen NN’s leadership team and navigate complex global manufacturing legal challenges.