Tuesday, April 22, 2025
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Hans Baldau, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q25 New Business Wins. NN achieved 1Q25 new business wins of $16.4 million, a solid performance given the state of the economy, in our view. In the same period last year, new business wins totaled $17.2 million. NN is well on its way to meeting its 2025 goal of $65 million in new business wins.
Diversified Backlog and Pipeline. New business wins for the quarter were focused on electrical and power products, medical, non-automotive industrial products, and automotive products. Roughly half of the nearly $700 million pipeline is in these targeted areas.
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