NN, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 11, 2024 at 05:05 pm EDT
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NN, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 112.53 million compared to USD 118.01 million a year ago. Net loss was USD 20.54 million compared to USD 12.01 million a year ago. Basic loss per share from continuing operations was USD 0.5 compared to USD 0.33 a year ago. Diluted loss per share from continuing operations was USD 0.5 compared to USD 0.33 a year ago.
For the full year, sales was USD 489.27 million compared to USD 498.74 million a year ago. Net loss was USD 50.15 million compared to USD 26.1 million a year ago. Basic loss per share from continuing operations was USD 1.35 compared to USD 0.83 a year ago. Diluted loss per share from continuing operations was USD 1.35 compared to USD 0.83 a year ago.
NN, Inc. is a diversified industrial company. The Company combines advanced engineering and production capabilities with materials science expertise to design and manufacture high-precision components and assemblies. The Company operates through two segments: Mobile Solutions and Power Solutions. Mobile Solutions segment manufactures components for use in power steering, braking, transmissions, and gasoline fuel system applications, along with components utilized in heating, ventilation and air conditioning and diesel injection and diesel emissions treatment applications. The segmentâs technical capabilities can be utilized in various applications, including for use in battery electric, hybrid electric, and internal combustion engine vehicles. Power Solutions segment manufactures a range of products, including electrical contacts, connectors, contact assemblies, and precision stampings for the electrical end market and high precision products for the aerospace and defense end market.
NN, INC. 
