NN, Inc. (NNBR) Reports In-Line Q4 EPS

NN, Inc. (NASDAQ: NNBR) reported Q4 EPS of $0.14, in-line with the analyst estimate of $0.14. Revenue for the quarter came in at $198 million versus the consensus estimate of $199.1 million.

Adjusted Results – Fourth Quarter 2019

• Fourth quarter 2019 adjusted EBITDA was $33.2 million, or 16.7% of sales, versus $34.4 million, or 17.3% of sales, in the same prior year period.
• Adjusted income from operations for the fourth quarter of 2019 was $19.8 million, compared to $23.6 million for the same period in 2018.
• Fourth quarter 2019 adjusted net income was $5.7 million, or $0.14 per diluted share, compared to $12.3 million, or $0.29 per diluted share, for the same period in 2018. Free cash flow for the fourth quarter 2019 was $2.3 million.

Warren Veltman, President and Chief Executive Officer, stated, "In the fourth quarter, we enhanced our financial flexibility by issuing preferred stock, paying off our revolver, and extending our revolver and term B loans. In addition to these actions, we continue to find new ways to reduce corporate overhead and streamline costs, such as consolidating NN's senior management leadership of the Mobile Solutions and Power Solutions business groups under the leadership of John Buchan and naming Chris Qualters as Executive Vice President of our Life Sciences segment. These combined initiatives have helped us make real progress in reducing the overall leverage of the company as we look to continue improving our capital structure and determine the best way to generate value for our shareholders."

For earnings history and earnings-related data on NN, Inc. (NNBR) click here.

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