NN Inc. reports Q4 2023 adjusted EBITDA up 28% to $10M; guides FY2024 EBITDA $47-$55M

NN INC

Q4 2023 net sales $112.5M (-4.6% YoY); adjusted EBITDA $10.0M (+28% YoY); free cash flow $1.3M.
Full year 2023 adjusted EBITDA $43.1M (8.8% of sales); free cash flow $11.7M, improvement from -$9.8M.
2024 guidance: revenue $485-$510M, adjusted EBITDA $47-$55M, free cash flow $10-$15M, net leverage below 3.0x.
Record new business wins of $62.6M in 2023; targets $55-$70M in 2024.
GAAP net loss $20.5M in Q4 vs $12.0M in Q4 2022, driven by warrant valuation and interest.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NN INC reported financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 11, 2024, NN, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter and year ended December 31, 2023.

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

NN INC filing history →

Source: SEC EDGAR

accession 0000918541-24-000017

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