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Highlights
- The company expects a record adjusted EBITDA for fiscal 2025.
- All business segments deliver positive adjusted EBITDA and free cash flow.
- The company anticipates a return to year-over-year sales growth in 2026.
- More than 170 sales growth awards are set to launch across 2025–2026.
- NN is advancing refinancing and M&A strategies to enhance shareholder value.
NN, Inc. (NASDAQ:NNBR) has released a mid-quarter business update outlining continued progress in its multi-year transformation journey. The company expects fiscal 2025 to translate into multiple annual records on a comparable basis, reflecting sustained improvement in business performance. Adjusted EBITDA for 2025 is projected to reach an all-time high, marking the third consecutive year of gains both in dollar terms and as a percentage of sales.
This growth is supported by an improved sales mix, the elimination of unprofitable work, and enhanced operational execution. Cost structure reductions and ongoing process improvements have helped NN advance its financial goals more quickly than expected. The company anticipates Q4 2025 adjusted EBITDA and adjusted gross margins to reach its five-year targets of 14% and 20%, surpassing its original timeline by more than two years.
Commercial Progress and New Business Pipeline
NN continues to demonstrate disciplined commercial execution across its diverse industrial portfolio. Each business segment is generating positive adjusted EBITDA and free cash flow through the first three quarters of 2025. The company projects a third straight year of positive free cash flow, even while managing record precious metal input costs.
Full-year 2025 new business wins are expected to meet the company’s earlier guidance, contributing to a three-year target of USD 200 million in cumulative new awards. With more than 170 sales growth programs launching between 2025 and 2026, the company is positioned for an inflection point in net sales beginning in 2026.
NN now operates with its largest-ever sales growth team and maintains an opportunity pipeline of more than 800 prospective programs, valued at over USD 800 million annually. With a hit rate above 20%, the company expects these programs to contribute meaningfully to its year-over-year margin expansion, operating income improvement, and continued adjusted EBITDA growth.
Strategic Priorities to Unlock Shareholder Value
The company is also advancing multiple strategic initiatives designed to enhance long-term competitiveness and accelerate value creation. NN is moving forward with a preferred equity refinancing plan and expects to engage the market shortly. On the M&A front, the company has narrowed its focus after evaluating several opportunities throughout 2025.
Conclusion
NN, Inc.’s latest business update highlights meaningful operational gains, expanding commercial opportunities, and advancing strategic initiatives. As the company moves toward 2026, its forecasted return to year-over-year sales growth, combined with improving margins and targeted strategic actions, positions NN to build on its progress and enhance long-term shareholder value.
