NN Cuts FY24 Revenue Outlook From $485M - $505M To $465M - $485M, Est $494.881M
Portfolio Pulse from Benzinga Newsdesk
NN Inc. (NNBR) has revised its FY24 revenue outlook from $485M-$505M to $465M-$485M, below the estimated $494.881M. Adjusted EBITDA and free cash flow projections have also been lowered. New business wins remain unchanged.
July 02, 2024 | 9:52 pm
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NN Inc. has revised its FY24 revenue outlook downward to $465M-$485M, below the estimated $494.881M. Adjusted EBITDA and free cash flow projections have also been lowered, while new business wins remain unchanged.
The downward revision of revenue, adjusted EBITDA, and free cash flow projections indicates potential financial challenges, which could negatively impact investor sentiment and the stock price in the short term.
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