NN Releases Business Update Including New Business Of $16.4M In Q1 2025

Author: Benzinga Newsdesk | April 21, 2025 07:47am

New Business Awards of $16.4 million in first quarter 2025; New Business Awards of over $150 million since Q1 2023; tracking ahead of its five-year plan

Company raises five-year Adjusted EBITDA margin target range to 13–14%, and reaffirms previous 2025 Adjusted EBITDA guidance

CHARLOTTE, N.C., April 21, 2025 (GLOBE NEWSWIRE) -- NN (NASDAQ:NNBR) today announced an update on its new business wins program and its ongoing above-plan margin results.

Highlights:

• First quarter 2025 new business wins were $16.4 million; we believe NN is on pace to meet its 2025 goal of $65 million of new business awards
  • Approximately $98 million of new business awards will ramp into revenue stream during 2025 and beyond
• New wins for the quarter were in the key focus areas of non-automotive industrial products, electrical and power products, medical, and automotive products
  • NN is leveraging its installed base of $340 million of assets and is selectively adding new capacity in certain growth areas
• NN has secured more than $150 million in new wins since Q1 2023, tracking ahead of its five-year goal and supporting its long-term net sales targets which also assumes a stable base market for ongoing business
• NN's new business pipeline continues to expand in non-automotive, medical, industrial, and automotive products
  • NN has built a $340+ million pipeline in the targeted areas of electrical, medical, and industrial; or about half of its pipeline
• NN's adjusted EBITDA rate is ahead of its five-year plan due to cost-improvement actions and new business
  • NN is increasing its five-year Adjusted EBITDA target range up to 13-14%, up from prior range of 12-13%
  • Company is incurring immaterial direct tariff impacts due to its indigenous footprint strategy in the US
  • NN is reaffirming prior adjusted EBITDA guidance for 2025 

Posted In: NNBR