Sidoti Deck
Power Solutions: Q3'23 Highlights
Sales down 11.0%, or $5.6 million, from prior year
(-) Volume down ~$8 million
Auto component sales primarily due to two key customers losing market share
General industrial component sales due to lower market capital spending in the
increasing interest rates environment
Aerospace and defense sales down as a result of Irvine, CA and Taunton, MA
facilities closures and business exits
Profitability
(+) Rationalized unprofitable business within Taunton, MA facility
(+) Benefits of right-sizing indirect labor support
(+) Retroactive material cost recovery
12022
2023
12022
2023
$51.1
$45.5
Third Quarter
Current Focus & Looking Forward
Softer Q4 demand outlook over UAW strike impact
Demand signals are strengthening for electrification and grid products
•
Focused effort to enter global shielding market
NN
NN Inc., Sidoti Deck | November 2023
Net Sales Trends
(millions)
$155.2
$142.6
Adjusted EBITDA Trends
(millions)
$8.3
$7.1
YTD
$21.7
$19.4
Third Quarter
YTD
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