NN Inc ( (NNBR) ) has released its Q1 earnings. Here is a breakdown of the information NN Inc presented to its investors.
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NN Inc, a global industrial company headquartered in Charlotte, North Carolina, specializes in delivering high-precision components and assemblies across various markets worldwide.
In its latest earnings report, NN Inc announced a robust performance in the first quarter of 2025, marked by significant new business wins totaling $16.4 million. The company is on track to achieve its 2025 goal of $65 million in new business awards, having secured over $150 million in new wins since the first quarter of 2023.
Key financial highlights include the company’s strategic focus on non-automotive industrial products, electrical and power products, medical, and automotive products, which have contributed to its expanding business pipeline. NN Inc has also raised its five-year Adjusted EBITDA margin target to 13-14%, reflecting successful cost-improvement actions and new business growth.
The company’s CEO, Harold Bevis, emphasized the ongoing transformation strategy, which has led to profitability improvements and margin expansion. Despite some uncertainties in its base business, NN Inc is adjusting its cost positions and remains committed to enhancing shareholder value through further growth and cost-out initiatives.
Looking ahead, NN Inc is poised to continue its momentum in expanding its commercial pipeline and improving its operational efficiencies, aiming to solidify its position as a preferred supplier in its key growth markets.