NN Inc. Q3 adj EBITDA up to $14.5M (11.6% of sales); raises 2023 FCF guidance to $10-14M

NN INC

2023-Q3 EPS reported -$0.84 revenue$376,737,000

Net sales $124.4M (-2.2% YoY); operating loss $2.7M; net loss $5.1M vs $2.2M prior year.
Adjusted EBITDA $14.5M (11.6% margin) vs $11.8M (9.3%) YoY; free cash flow generation of $11.3M.
Leverage ratio improved to 3.37x from 3.87x sequentially; launched NN Medical division.
Full-year 2023 outlook: revenue $487-497M; adj EBITDA $40-44M; FCF raised to $10-14M.
New COO and CPO added; cost productivity programs expected to yield ~$10M adj EBITDA improvement.

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 the third quarter ended September 30, 2023 results: revenue $124.4 million, net income $5.1 million, EPS $0.01 per diluted share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $124.4 million
Net income: $5.1 million
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

high-precision components and assemblies, today reported its financial results for the third quarter ended September 30, 2023. Financial and Strategic Highlights • Net sales of $124.4 million, down 2.2% versus prior year period; • Operating loss of $2.7 million and adjusted EBITDA of $14.5 million; • Free cash flow of $11.3 million, up significantly versus prior

View on SEC.gov

168 earnings releases filed in the last 30 days. Browse all earnings releases →

NN INC filing history →

Source: SEC EDGAR

accession 0000918541-23-000136

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.