NN Inc. reports Q4 net loss of $12M, adjusted EBITDA down 36% YoY; guides 2023 revenue $525-555M

NN INC

Q4 net sales $118.0M (+6.9% YoY); GAAP loss from operations $11.0M vs loss $3.8M YoY.
Q4 adjusted EBITDA $7.8M (6.6% of sales) vs $12.1M (10.9%); adjusted EPS loss $0.12 vs loss $0.01.
Full year 2022 net sales $498.7M (+4.4%); adjusted EBITDA $43.9M (8.8%) vs $52.1M (10.9%).
Amended ABL and term loan on March 3, 2023 to increase leverage covenant flexibility; interest rate increase on term loan.
2023 outlook: revenue $525-555M, adj. EBITDA $50-60M, FCF $10-20M; expects new CEO by Q2 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NN INC reported financial results for the fourth quarter and full year ended December 31, 2022.

Period: the fourth quarter and full year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 9, 2023, NN, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter and year ended December 31, 2022. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the "Current Report").

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Source: SEC EDGAR

accession 0000918541-23-000020

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