earnings
confidence high
sentiment positive
materiality 0.70
NN, Inc. Q2 adjusted EBITDA rises 27.6% to $13.4M, reaffirms FY guidance
NN INC
2024-Q2 EPS reported
-$0.46
revenue$244,190,000
- Net sales $123.0M, down 1.8% YoY; operating loss improved 47.5% to $2.1M.
- Adjusted EBITDA $13.4M (10.9% margin) vs $10.5M (8.4% margin) in Q2 2023.
- Power Solutions segment income from ops $5.3M vs $2.6M; Mobile Solutions loss $1.6M vs $1.5M.
- Subsequent to quarter-end, sold plastics plant, used $15.4M to pay down debt.
- Reaffirmed FY2024 guidance: revenue $465-485M, adj. EBITDA $47-51M, FCF $8-12M.