New ABL facility marks successful next step in Company’s balance sheet optimization strategyCHARLOTTE, N.C., Jan. 02, 2025 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it has entered into an ABL Credit Agreement governing a new asset-backed senior secured revolving credit facility (the “ABL”). The new ABL Credit Agreement will provide NN Inc. with a $50 million revolving cre ...

CHARLOTTE, N.C., Nov. 02, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that Harold Bevis, President and Chief Executive Officer, and Chris Bohnert, Senior Vice President and Chief Financial Officer, will be presenting at the Gabelli Funds 48th Annual Automotive Symposium on November 4, 2024 in Las Vegas. The presentation will begin at 11:20 a.m. PT (2:20 p.m. ET) on Monday, ...

Exhibit 99.1 NN, Inc. 6210 Ardrey Kell Road, Suite 120 Charlotte, NC 28277 FOR IMMEDIATE RELEASE NN, INC. REPORTS THIRD QUARTER 2024 RESULTS Transformation agenda moving at a faster pace, with footprint changes and operating expense reductions; new business wins continue at a strong rate, expect 2025 year-over-year sales growth CHARLOTTE, N.C., October 30, 2024 – NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today r ...

CHARLOTTE, N.C., Oct. 30, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today reported its financial results for the third quarter ended September 30, 2024. Highlights New business wins in the quarter were $15 million, bringing year-to-date and trailing-21-month totals to $49 million and $113 million, respectively; on pace with full-year guidance;Continuing to lower the cost structure of our ...

CHARLOTTE, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it has rescheduled the release of its third quarter 2024 financial results for the period ended September 30th, 2024. The Company will now publish its third quarter earnings one day earlier than its previously scheduled release, after the close of the market on Wednesday, October 30th, 2024. The Comp ...

CHARLOTTE, N.C., Oct. 17, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it will release its third quarter 2024 financial results for the period ended September 30th, 2024, after the close of the market on Thursday, October 31st, 2024. The Company will hold a related conference call on Friday, November 1st, 2024, at 9:00 a.m. E.T. Participants on the call are asked to reg ...

Financial Data and Key Metrics - Net sales for Q2 2024 were $123 million, down 1.8% YoY due to unfavorable FX impacts and rationalization of low-margin business [12][13] - Adjusted EBITDA grew 28% YoY to $13.4 million, with a margin of 10.9%, up 250 basis points YoY [12][14] - Trailing 12-month adjusted EBITDA reached $49.2 million, up 29% YoY [12] - GAAP net loss per share improved to $0.12 from $0.38 YoY, while adjusted net loss per share was $0.02 [16] Business Line Performance - **Power Solutions**: Sales increased 4.3% YoY to $50.2 million, driven by pricing actions and inflation pass-throughs Adjusted EBITDA grew 46% YoY to $9.5 million, with margins improving from 13.5% to 18.8% [17][18] - **Mobile Solutions**: Sales declined 5.6% YoY to $72.9 million due to exiting unprofitable business and FX impacts Adjusted EBITDA increased to $8.2 million, up $0.7 million YoY [19][20] - **Medical Business**: Current revenue is $17 million, with a new target of $100 million in revenue, up from the initial $50 million goal [25][26] Market Performance - **Global Automotive**: Flat to modest growth expected, with demand rebalancing across BEV, hybrid, and ICE drivetrains [9] - **General Industrial**: Forecasted to grow 3%, with steady demand [9] - **Power Grid and Electrical Control**: Modest global growth expected, with steady demand in circuit breaker products [9] - **Commercial Vehicles**: Forecasted decline, but minimal impact due to exposure to unique applications [9] - **Medical Market**: Orthopedic sales expected to grow 3-4% YoY through 2026 [10] Strategic Direction and Industry Competition - The company is executing a transformation plan focused on operational improvements, cost reductions, and strategic growth in high-margin markets like medical, electrical, and high-end automotive [6][7] - NN is targeting new product development and innovation, particularly in medical, electrical, and automotive markets [7] - The company is expanding its medical business, with a focus on precision manufacturing and capacity expansion [25][26] Management Commentary on Operating Environment and Future Outlook - Management reaffirmed full-year 2024 guidance: net sales of $465-485 million, adjusted EBITDA of $47-51 million, free cash flow of $8-12 million, and new business wins of $55-70 million [28] - The company expects to benefit from healthy industrial, electrical, and medical end markets, despite variability in the global automotive market [8][9] - NN is focused on refinancing its debt to lower the cost of capital and support future growth [23] Other Key Information - The company has secured $34.3 million in new business awards year-to-date, with a pipeline of over $600 million [7] - NN has added new leadership, including a new CFO and General Counsel, to support its transformation and growth [11] - The company is investing in new equipment and capacity to support its medical business, with plans to expand capabilities and meet growing demand [26][27] Q&A Session Summary Question: Progress on fixing underperforming plants - Nine out of seven underperforming plants are now profitable, with all performing better than the prior year [31] - Revenue from these plants is expected to be slightly less than $100 million due to shedding unprofitable business [32] Question: Strength of the China joint venture - The JV is performing well, driven by a strong hybrid vehicle market and cost-out programs [33] - The outlook for the JV remains positive, with continued strength expected through 2024 [34] Question: Strategic refinancing details - The company expects to secure lower interest rates than the current 14% PIK rate, with a focus on reducing the cost of capital and potentially paying down preferred debt [35][36] Question: Pricing actions and impact - Pricing actions were minimal, with some contractual price reductions in the Mobile Solutions segment and inflation pass-throughs in the Power Solutions segment [41][42] Question: Medical business growth and CapEx needs - The company plans to invest in new equipment and capacity to support its medical business, with a goal of reaching $100 million in revenue over the next 2.5-3 years [45][46][49] Question: Progress on reducing legacy loss contracts - The company has made significant progress in reducing legacy loss contracts, with most underperforming business now at or near breakeven [50][51]

Financial Performance - NN Inc 的净销售额从去年第二季度的 1.252 亿美元小幅下降至 1.23 亿美元，降幅为 1.8%[8] - 调整后的 EBITDA 从去年第二季度的 1050 万美元增至 1340 万美元，增长了 28.7%[6, 8] - 调整后的 EBITDA 利润率从去年第二季度的 8.4% 增至 10.9%，增长了 2.5%[8] - 公司重申了 2024 年全年展望，预计净销售额为 4.65 亿美元至 4.85 亿美元，调整后的 EBITDA 为 4700 万美元至 5100 万美元，自由现金流为 800 万美元至 1200 万美元[20] Business Segments - Power Solutions 的销售额同比增长 4.3%，即 210 万美元，达到 5020 万美元[9] - Mobile Solutions 的销售额同比下降 5.6%，即 430 万美元，达到 7290 万美元[12] - 医疗业务的销售额约为 1700 万美元，并且还在增长，目标是达到 1 亿美元的业务规模[18] Strategic Initiatives - 公司在 2024 年上半年获得了 3430 万美元的新业务，并且拥有约 6 亿美元的高质量业务渠道[2] - 自 2023 年 1 月至 2024 年 6 月，公司已获得 9700 万美元的新订单[16] - 公司正在进行战略再融资，预计将在第三季度完成，旨在提高灵活性，降低资本成本[3, 15]

Continued profitability improvement and stronger pace of new business wins driven by strategic transformation plan Company reaffirms full year 2024 outlook CHARLOTTE, N.C., Aug. 07, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today reported its financial results for the second quarter ended June 30, 2024. Highlights Strategic transformation program drove enhanced results, fourth consecutiv ...

Core Viewpoint - NN, Inc. is set to release its second quarter 2024 financial results on August 7, 2024, followed by a conference call on August 8, 2024, indicating ongoing transparency and engagement with investors [2][3]. Company Overview - NN, Inc. is a global diversified industrial company that specializes in engineering and manufacturing high-precision components and assemblies for various markets [4]. - The company is headquartered in Charlotte, North Carolina, and operates facilities across North America, Europe, South America, and Asia, showcasing its global reach and operational capabilities [4]. Investor Engagement - The upcoming conference call will be accessible via a webcast, allowing shareholders and media representatives to participate, which reflects the company's commitment to investor relations [3]. - A replay of the conference call will be available on the company's website for those unable to attend live, extending the opportunity for stakeholders to engage with the company's updates [3].