- New business wins of $16.4 million for Q1 2025; over $150 million secured since Q1 2023.
- Adjusted EBITDA margin target raised to 13-14% for the next five years.
- Pipeline exceeds $340 million in key sectors such as electrical, medical, and industrial.
NN Inc. (NASDAQ: NNBR) has reported strong first-quarter results for 2025, with new business wins amounting to $16.4 million. Since the first quarter of 2023, the company has secured over $150 million in new business awards, marking significant progress in its strategic growth initiatives.
The company has raised its five-year Adjusted EBITDA margin target to a range of 13-14%, up from the previous target of 12-13%. This revision reflects NN's confidence in enhancing operational efficiency and executing its strategic initiatives.
The new business wins are expected to contribute approximately $98 million in revenue in 2025 and beyond. NN's commercial pipeline now exceeds $340 million, focusing heavily on the electrical, medical, and industrial sectors.
Despite slight underperformance in some core business areas due to market uncertainties, NN is actively implementing cost adjustments and focusing on operational improvements to expand margins. The company's diversification efforts across non-automotive industrial, electrical, medical, and automotive products are proving effective, providing multiple growth avenues and some protection against sector-specific downturns.
A key advantage for NN is its indigenous U.S. manufacturing operations, which have led to minimal direct tariff impacts in the current global trade environment. This advantage, coupled with strong new business momentum, has allowed the company to reaffirm its 2025 Adjusted EBITDA guidance, indicating continued progress in its corporate transformation journey.
