Nn Inc Stock Price, News & Analysis

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.