Nn Inc Stock Price, News & Analysis

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.

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.