secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0000918541-24-000136
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000136/0000918541-24-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000136/nnbr-20241030.htm
  HTML page:      https://secwatch.observer/filing/0000918541-24-000136

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