Industrial components supplier NN (NASDAQ: NNBR) will be reporting earnings this Wednesday after market close. Here’s what you need to know.
NN missed analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $107.9 million, down 12.3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EBITDA guidance exceeding analysts’ expectations.
Is NN a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting NN’s revenue to decline 1.6% year on year to $111.8 million, improving from the 8.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. NN has missed Wall Street’s revenue estimates twice since going public.
Looking at NN’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Worthington delivered year-on-year revenue growth of 18%, beating analysts’ expectations by 1.4%, and GE Aerospace reported revenues up 26.4%, topping estimates by 3.7%. Worthington traded down 11.6% following the results while GE Aerospace was also down 1.6%.
Read our full analysis of Worthington’s results here and GE Aerospace’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 3.8% on average over the last month. NN is down 9% during the same time and is heading into earnings with an average analyst price target of $5.75 (compared to the current share price of $1.92).
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