NN (NNBR) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales rose 19.3% year-over-year to $128.7 million, with adjusted EBITDA up 36% to $17.9 million, driven by new business launches, higher volumes, and favorable FX.

• First half 2026 net sales totaled $247.2 million, up 16% year-over-year, and adjusted EBITDA increased 35% to $32.1 million.

• Net loss narrowed to $2.3 million from $8.1 million in Q2 2025, reflecting improved operating results and higher JV income.

• $65 million in new business awards were secured in the first half, with major strategic milestones including a $124 million refinancing and preferred stock retirement, significantly improving the capital structure.

• Raised $70.4 million via private placement and PIPE transactions, expanding the institutional investor base.

Financial highlights

• Q2 2026 net sales: $128.7 million, up $20.8 million (19.3%) year-over-year; first half: $247.2 million, up 16%.

• Q2 adjusted gross margin was $26.1 million (20.3% margin), up 24% year-over-year; first half adjusted gross margin was $49.2 million (19.9% margin), up 26%.

• Q2 adjusted EBITDA was $17.9 million (13.9% margin), up 36% year-over-year; first half adjusted EBITDA was $32.1 million (13% margin), up 35%.

• Net loss for Q2 2026 was $2.3 million, improved by $5.8 million year-over-year; adjusted net income was $5.5 million.

• Operating cash flow for six months was $11.8 million, with total liquidity at $51.8 million as of June 30, 2026.

Outlook and guidance

• Full-year 2026 sales guidance raised to $460–$480 million, with EBITDA expected at $55–$65 million.

• New business wins guidance increased to $80–$100 million, with $80 million already secured through July.

• Guidance reflects conservative assumptions due to Q4 seasonality, but significant ramp-up from new wins in Data Center, Medical, and Defense expected in the second half.

• Management expects continued benefits from plant rationalization and cost optimization, with annual savings of $5.4 million.

• Sufficient liquidity is anticipated for the next 12 months, supported by recent equity raise and improved cash flows.