Industrial components supplier NN (NASDAQ: NNBR) will be reporting results this Wednesday after market close. Here’s what to expect.
NN beat analysts’ revenue expectations last quarter, reporting revenues of $128.7 million, up 19.3% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is NN a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting NN’s revenue to grow 13.7% year on year, a reversal from the 8.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. NN has missed Wall Street’s revenue estimates multiple times over the last two years.
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 13.2%, beating analysts’ expectations by 4.1%, and Gorman-Rupp reported revenues up 11.8%, topping estimates by 6.4%. Worthington traded up 1.3% following the results while Gorman-Rupp was also up 6.9%.
Read our full analysis of Worthington’s results here and Gorman-Rupp’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. NN is down 7.7% during the same time and is heading into earnings with an average analyst price target of $6.67 (compared to the current share price of $3.44).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
