secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0000918541-24-000017
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000017/0000918541-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000017/nnbr-20240311.htm
  HTML page:      https://secwatch.observer/filing/0000918541-24-000017

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