NN, Inc. reports Q2 adjusted EPS (2c), consensus (5c)

Reports Q2 revenue $123M, consensus $123.22M. NN delivered another quarter of improvement, driven by the execution of our strategic transformation plan which is yielding observable momentum across key focus areas of profitability enhancement, operational performance, and accelerated new business wins,” said Harold Bevis, President and CEO. “Our committed efforts to strengthen profitability were evident in the quarter, as our $13.4 million of adjusted EBITDA reflected solid growth over the prior year, which is the fourth consecutive quarter of year-over-year improvement. On a trailing-twelve-month basis we have delivered adjusted EBITDA of $49.2 million, an improvement of 28.7% year-over-year. Our focus on improved operating performance and productivity has helped drive solid margin expansion, advancing our profitability and overcoming the strategic rationalization of volumes which impacted our top-line.”