NN, Inc. Q1 2024: Adj. EBITDA $11.3M (+38.9% YoY); net sales $121.2M (-4.6% YoY)

NN INC

2024-Q1 EPS reported -$0.34 revenue$121,198,000

Net sales $121.2M, down 4.6% YoY; operating loss improved to $4.8M from $7.1M.
Adjusted EBITDA $11.3M (9.3% of sales) vs $8.1M YoY; free cash flow $0.3M vs -$3.7M.
Power Solutions operating income $4.0M; Mobile Solutions operating loss $2.1M.
New business wins $17.2M in Q1, cumulative $80M over last 5 quarters.
FY2024 guidance: revenue $485-505M, adj. EBITDA $48-54M, FCF $10-15M.

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 0.95

NN INC reported first quarter ended March 31, 2024 results: revenue $121.2 million, net income Net loss was $12.5 million, EPS $0.08 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $121.2 million
Net income: Net loss was $12.5 million
EPS: $0.08 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

first quarter ended March 31, 2024. Highlights • Strategic transformation program drove another quarter of improved results, 3 rd quarter in a row; • First quarter net sales of $121.2 million, down 4.6% versus prior year, driven largely by rationalized volume; • First quarter operating loss of $4.8 million, an improvement of $2.3 million versus prior year; • First

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Source: SEC EDGAR

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