secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0000918541-23-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000020/0000918541-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000020/nnbr-20230309.htm
  HTML page:      https://secwatch.observer/filing/0000918541-23-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer