NN, Inc. Announces Strong Quarter Of New Business Awards At $17.2M In Q1 2024
Portfolio Pulse from Benzinga Newsdesk
NN, Inc. (NASDAQ:NNBR) announced $17.2 million in new business awards for Q1 2024, maintaining momentum with over 70% of these awards starting in 2024. The company is on track to meet its 2024 target of $55-$70 million in new business, with wins across North America, South America, Europe, and China. These wins are in strategic areas such as vehicle electrification, fuel efficiency, electrical grid expansion, and orthopedic medical products, contributing to NN's multi-year transformation plan for above-market profitable sales growth.
April 08, 2024 | 8:12 pm
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NN, Inc. (NASDAQ:NNBR) announced significant new business awards totaling $17.2 million in Q1 2024, indicating strong business momentum and alignment with strategic growth areas.
The announcement of $17.2 million in new business awards for Q1 2024 demonstrates NN, Inc.'s strong business momentum and strategic alignment with growth sectors such as vehicle electrification and medical products. This positive news is likely to be well-received by investors, potentially leading to a short-term positive impact on NNBR's stock price. The company's focus on strategic areas and its progress towards its 2024 target of $55-$70 million in new business awards further reinforce the positive outlook.
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