NN reports Q3 net loss of $2.6M, revenue down 8.7% to $113.6M; adjusted EBITDA margin 10.2%

NN INC

2024-Q3 EPS reported -$0.59 revenue$357,777,000

Revenue $113.6M (-8.7% YoY); adjusted EBITDA $11.6M (10.2% margin) vs $14.5M (11.6%) prior year.
Net loss $2.6M ($0.05 adj. diluted EPS loss) vs net loss $5.1M prior year.
New business wins $15M in Q3; YTD $49M; FY2024 outlook: revenue $465-485M, adj. EBITDA $47-51M.
Closed Dowagiac plant; sold non-core plastics plant; leverage ratio 2.97x; strategic refinancing in process.
Power Solutions adj. op income $5.2M (down from $7.1M); Mobile Solutions adj. op income $0.9M (down from $1.6M).

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