Nn Stock Earnings Reports

NN, Inc. reported Q3 2025 results with net sales of ~$104M and improved profitability: adjusted operating income of ~$4M (margin ~4%), adjusted EBITDA up ~7.9% year-over-year, and adjusted gross margin around 19%. The company generated strong free cash flow (~$9M) and continued to materially reduce working capital (net working capital under $80M, ~21% improvement vs Q2 2023). Commercial actions included closing/ rationalizing underperforming facilities, a >20% headcount reduction in SG&A, and ongoing footprint consolidation to eliminate remaining unprofitable business. Sales headwinds remain in automotive and some electrical/infrastructure end markets, but management reports significant new-business momentum: cumulative wins of ~ $182M year-to-date, a pipeline above $850M, and ~100 program launches expected in 2025–2026 that are forecast to add materially to revenue at full run-rate. Management reiterated guidance with a modest reduction to sales (lower automotive, higher defense), noting the mix shift preserves EBITDA and cash flow. Strategic priorities: continue margin expansion toward long-term targets (gross margin ~20%, adjusted EBITDA target 13–14%), pursue targeted M&A to scale and deleverage, and pursue a refinancing of preferred equity (organizational stage; may be done with or without acquisitions). Key operational notes: capacity headroom exists in stamping (~60% utilization) and variable utilization across mobile facilities; China operations (WOFE and JV) are profitable and cash-generative.