NN Earnings: Here’s Why the Stock is Falling Now
NN Inc. (NASDAQ:NNBR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.30%.
NN Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 31.71% to $0.28 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Decreased 2.55% to $96.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NN Inc. reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $93.79 million.
Quoting Management: to experience positive revenue momentum during the second quarter of this year due to a slight demand increase in the European heavy truck market and our ability to better penetrate the markets of existing customers in Europe. Our second quarter sales increased $2.5 million over sales for the first quarter of this year. Although we are encouraged by this development, the protracted general global economic uncertainty causes us to remain cautious regarding the second half of the year. Therefore, we are holding our estimates for the second half and full year at this time.”
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