NN Inc ( (NNBR) ) has released its Q4 earnings. Here is a breakdown of the information NN Inc presented to its investors.
NN, Inc., a global diversified industrial company based in Charlotte, North Carolina, specializes in engineering and manufacturing high-precision components and assemblies for various markets worldwide. The company operates facilities across North America, Europe, South America, and Asia.
In its latest earnings report, NN, Inc. announced its financial results for the fourth quarter and full year of 2024, marking the completion of its first full year of a transformative business plan. Despite a decrease in net sales by 5.1% for the year, the company reported a successful transformation with significant new business wins and improved operational efficiencies.
Key financial highlights include a net sales decrease to $464.3 million, a GAAP earnings per share loss of $1.11, and an adjusted EBITDA increase to $48.3 million. The company secured $73 million in new business wins in 2024, surpassing the previous year’s record, and is on track to achieve its organic growth goal of $600 million in sales. Notably, NN’s China operations experienced significant growth, contributing positively to the company’s overall performance.
Looking forward to 2025, NN, Inc. aims to continue its transformation by focusing on strengthening its balance sheet, enhancing free cash flow, and expanding its business acquisition program. The company anticipates revenue growth between $450 to $480 million, with adjusted EBITDA expected to rise by approximately 15% compared to 2024, driven by stronger margins and new business launches.