CHARLOTTE, N.C. Earnings Snapshot: NN Reports Q4 Loss
CHARLOTTE, N.C. (HERE News) — NN Inc. (NNBR) reported a loss of $20.5 million in its fourth quarter, according to a recent earnings snapshot released on Monday.
Financial Details
The Charlotte-based industrial parts maker stated that it had a loss of 50 cents per share in the fourth quarter. However, after adjusting for non-recurring costs, the losses were reported at 10 cents per share. The company generated revenue of $112.5 million during this period.
For the entire year, NN Inc. reported a loss of $50.2 million, or $1.35 per share. The total revenue for the year was disclosed as $489.3 million. Looking ahead, NN anticipates full-year revenue to fall within the range of $485 million to $510 million.
Analyst Insights
Analysts had differing expectations for NN’s fourth-quarter performance. Some analysts foresaw the company reporting a loss of 15 cents per share on revenue of $116.2 million, while others projected a loss of 8 cents per share with revenue reaching $108.5 million. The actual results fell within this range but leaned toward the lower end of expectations.
Market Response
Following the release of the earnings report, NN’s stock experienced fluctuations in after-hours trading. Investors and analysts are closely monitoring the company’s financial outlook and strategic initiatives to navigate any potential challenges ahead.
Company Background
NN Inc. is a leading provider of high-precision components and assemblies for various industries, including automotive, aerospace, and medical. The company’s operations are focused on delivering innovative solutions and enhancing its global presence through strategic partnerships and acquisitions.
Conclusion
As NN Inc. closes the chapter on its fourth-quarter performance, the company remains committed to driving growth and profitability in the ever-evolving market landscape. Stakeholders and industry observers await further updates on NN’s strategic direction and operational strategies in the coming quarters.