NN Q1 2024 Adj EPS $(0.08) Misses $(0.07) Estimate, Sales $121.198M Beat $119.733M Estimate
Portfolio Pulse from Benzinga Newsdesk
NN, Inc. (NASDAQ:NNBR) reported Q1 2024 earnings with an adjusted EPS of $(0.08), missing the $(0.07) estimate, and sales of $121.198M, beating the $119.733M estimate. This represents a 33.33% improvement in EPS and a 4.63% decrease in sales year-over-year.
May 06, 2024 | 9:01 pm
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NN, Inc. (NNBR) reported a mixed Q1 2024 with an EPS miss and a sales beat, showing improvement in losses but a decrease in sales compared to last year.
The mixed earnings report from NN, Inc. presents a nuanced picture for investors. The EPS miss might concern investors looking for profitability improvements, while the sales beat could indicate resilience in revenue generation. The year-over-year improvement in EPS suggests operational efficiency gains, but the decrease in sales highlights potential market or operational challenges. Given these factors, the short-term impact on NNBR's stock price is likely neutral, as positive and negative elements may balance each other out.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100