NN, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 05:10 pm EDT
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NN, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 125.21 million compared to USD 125.36 million a year ago. Net loss was USD 14.38 million compared to USD 8.57 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 0.38 compared to USD 0.25 a year ago.
For the six months, sales was USD 252.29 million compared to USD 253.43 million a year ago. Net loss was USD 24.55 million compared to USD 11.87 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 0.67 compared to USD 0.38 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. 
