Thu, Mar 6, 11:04 AM (52 days ago)
**NN, Inc. (NNBR) 2024 10-K Summary** For the fiscal year ended December 31, 2024, NN, Inc. reported net sales of $464.3 million, down 5.1% from $489.3 million in 2023. The company experienced a net loss of $38.3 million, improving from a loss of $50.2 million the previous year. Operating expenses increased to 10.7% of net sales, leading to a loss from operations of $27.5 million. Earnings per share were reported at $(1.11). Strategically, NN, Inc. is consolidating operations, including the planned closure of two manufacturing facilities, aiming to enhance profitability and operational efficiency. The company also completed the sale of its Lubbock operations for $17 million, which contributed to a gain of $7.2 million. The company faces risks from supply chain disruptions, foreign currency fluctuations, and reliance on a limited customer base, with top ten customers accounting for 51% of sales. As of December 31, 2024, total liabilities decreased to $288.9 million, with a significant reduction in long-term debt to $143.6 million. Looking ahead, NN, Inc. is focused on improving financial performance and managing operational costs in response to ongoing macroeconomic challenges.