Category: Industrials

NN, Inc. (NNBR) – A First Look at the Third Quarter

Posted on by cpereira@noblefcm.com


Thursday, October 31, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Focused on Business Wins and Costs. NN is continuing to achieve business wins with $15 million in new business wins in the quarter, totaling $49 million year-to-date, near the bottom of its $55-70 million range for the year. The Company’s transformation program is moving faster than anticipated, as evidenced by the new business growth, along with operational efficiency and structural cost reductions. An example of the latter being the previous sale of the plastics plant in July and closure of the Dowagiac plant to move operations to China, further lowering costs.

3Q Results. Third quarter results were slightly below expectations with net sales of $113.6 million, below last year’s $124.4 million and our estimate of $125 million, due to the sale of the Lubbock operations. Excluding the sale, rationalized volume at plants undergoing turnarounds, and a customer settlement, sales were down 0.5%. Adjusted EBITDA was $11.6 million, down from $14.5 million last year and our $13.9 million estimate. With decisions such as the plant closure and higher margins of new business, we expect improved performance in the short term.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Great Lakes Dredge and Dock Corporation Schedules Announcement of 2024 Third Quarter Results

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GLDD

HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and nine months ended September 30, 2024 on Tuesday, November 5, 2024 at 7:00 a.m. C.S.T. A conference call with the Company will be held the same day at 9:00 a.m. C.S.T.

Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain immediate access to the call. Pre-registration may be completed at any time up to the call start time.

To pre-register, go to https://register.vevent.com/register/BI597f0aa2b02d4d84a95557b710d6eec6

The live call and replay can also be heard at https://edge.media-server.com/mmc/p/ykthkeg2 or on the Company’s website, www.gldd.com, under Events on the Investor Relations page. A copy of the press release will be available on the Company’s website.

The Company
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 134-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

This press release was published by a CLEAR® Verified individual.

Release – FreightCar America, Inc. To Release Third Quarter Results On November 12, 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on RAIL

CHICAGO, Oct. 28, 2024 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL or the “Company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today announced that it will release its third quarter 2024 financial results on Tuesday, November 12, 2024 before the market opens.

The conference call and live webcast will be held on Tuesday, November 12 at 11:00 a.m. (ET), and will be available on the Investor Relations page of the Company’s website at https://viavid.webcasts.com/starthere.jsp?ei=1693396&tp_key=feca4932b6 or by dialing (877) 407-0789 or (201) 689-8562. It is recommended that listeners log on or dial in approximately 10 to 15 minutes prior to the start of the call.

An audio replay of the conference call will be available shortly after the call has ended on the Company’s Investor Relations website until November 26, 2024.

About FreightCar America

FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.

Investor ContactRAILIR@Riveron.com

Source: FreightCar America, Inc.

Release – Kratos Defense and Security Solutions Schedules Third Quarter 2024 Earnings Conference Call for Thursday, November 7th

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

SAN DIEGO, Oct. 28, 2024 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, announced today that it will publish financial results for the third quarter 2024 after the close of market on Thursday, November 7th. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).

The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

 
Press Contact:
Claire Burghoff
Claire.burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release – ACCO Brands Corporation Declares Quarterly Dividend

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ACCO

LAKE ZURICH, Ill–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on December 11, 2024, to stockholders of record as of the close of business on November 15, 2024.

“This is the Company’s 28 th quarterly cash dividend since it began paying dividends in 2018. The Company’s dividend has become an important part of our capital allocation strategy, and we remain committed to supporting our quarterly dividend with our robust free cash flow. At the current stock price, on an annualized basis, our shareholders are receiving an approximate 6% yield on their investment,” said Tom Tedford, President, and Chief Executive Officer of ACCO Brands.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn and play. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Chris McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406Source: ACCO Brands Corporation

Release – Graham Corporation Announces Second Quarter Fiscal Year 2025 Financial Results Conference Call and Webcast

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GHM

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, announced that it will release its second quarter fiscal year 2025 financial results before financial markets open on Friday, November 8, 2024.

The Company will host a conference call and webcast to review its financial and operating results, strategy, and outlook. A question-and-answer session will follow.

Second Quarter Fiscal Year 2025 Financial Results Conference Call

Friday, November 8, 2024
11:00 a.m. Eastern Time
Phone: (201) 689-8560
Internet webcast link and accompanying slide presentation: ir.grahamcorp.com

A telephonic replay will be available from 3:00 p.m. ET on the day of the teleconference through Friday, November 15, 2024. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13749103 or access the webcast replay via the Company’s website at ir.grahamcorp.com, where a transcript will also be posted once available.

ABOUT GRAHAM CORPORATION

Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

For more information, contact:
Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Alliance Advisors IR
Phone: (716) 843-3908
dpawlowski@allianceadvisors.com

Source: Graham Corporation

Release – Kelly Announces Third-Quarter 2024 Conference Call

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KELYA

TROY, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) — Kelly, a leading global specialty talent solutions provider, will release its third-quarter earnings before the market opens on Thursday, November 7, 2024. In conjunction with its third-quarter earnings release, Kelly will publish a financial presentation on the Investor Relations page of its public website and will host a conference call at 9 a.m. ET.

The call may be accessed in one of the following ways:

Via the internet:
kellyservices.com

Via the telephone:
(877) 692-8955 (toll free) or (234) 720-6979 (caller paid)
Enter access code 5728672
After the prompt, please enter “#”

A recording of the conference call will be available after 1:30 p.m. ET on November 7, 2024, at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 9480328#. The recording will also be available at kellyservices.com during this period.

About Kelly

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 500,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2023 was $4.8 billion. Learn more at kellyservices.com.

KLYA-FIN

Analyst & Media Contact:
Scott Thomas
(248) 251-7264
scott.thomas@kellyservices.com

Release – NN, Inc. to Reschedule Third Quarter 2024 Earnings Conference Call for Thursday, October 31, 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on NNBR

CHARLOTTE, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it has rescheduled the release of its third quarter 2024 financial results for the period ended September 30th, 2024.

The Company will now publish its third quarter earnings one day earlier than its previously scheduled release, after the close of the market on Wednesday, October 30th, 2024. The Company will hold a related conference call on Thursday, October 31st, 2024, at 9:00 a.m. E.T. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing 1-877-255-4315 and from outside the U.S. at 1-412-317-6579.

The conference call will be webcast simultaneously and in its entirety through the NN, Inc. Investor Relations website. Shareholders, media representatives and others may participate in the webcast by registering through the Investor Relations section on the company’s website at https://investors.nninc.com/.

For those who are unavailable to listen to the live call, a replay will be available shortly after the call on NN’s website through October 31st, 2025.

About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.

Investor Relations Contacts:
Joe Caminiti or Stephen Poe
NNBR@alpha-ir.com
312-445-2870

Source: NN, Inc.

FreightCar America (RAIL) – Raising Price Target Based on Higher Revenue and Margin Growth Expectations

Posted on by cpereira@noblefcm.com


Thursday, October 24, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Pure play manufacturer. FreightCar America, Inc. is a diversified manufacturer of railroad cars and rail car components. The company designs and manufactures a broad variety of railroad car types for the transportation of bulk commodities and containerized freight products primarily in North America. The company reported strong second-quarter financial results and appears poised for greater scale and margin expansion as it increases its market share and expands its product suite.

On the path to greater profitability. While the company has broadened and diversified its product portfolio, we expect further growth into new areas such as producing tank cars which is expected to support margin expansion. Growth in the conversion and rebody business, along with increased parts sales, could enhance gross margins and reduce the company’s top-line sensitivity to the cyclicality associated with new railroad car orders. Additionally, we think FreightCar America will continue to improve its cost profile through productivity and efficiency gains.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Euroseas (ESEA) – Raising Estimates on New Vessel Deliveries and Charters

Posted on by cpereira@noblefcm.com


Wednesday, October 23, 2024

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, 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.

New Time Charter Contracts: Euroseas executed new time charter contracts for three feeder vessels, M/V Tender Soul, M/V Dear Panel, and M/V Symeon P. All three contracts are for a minimum period of 34 months and a maximum period of 36 months at a rate of $32,000/day. The charter for M/V Tender Soul is considerably higher than its previous $17,000 and is expected to take effect in early to mid-December. M/V Dear Panel and M/V Symeon P. are the last two of the company’s nine-vessel newbuilding program and are expected to be delivered at the beginning of January 2025. These charters are expected to contribute about $79 million of EBITDA for the minimum contract period, increasing the company’s 2025 coverage to roughly 63%.

Picking its sweet spot. The company has made it a point to build out its fleet with a focus on smaller feeder vessels, insulating itself from historical growth in the industry orderbook. Furthermore, Euroseas has invested in eco-friendly vessels as the market continues to push for more environmental regulations. We believe these new profitable charters highlight the success of this two-pronged strategy. 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

EuroDry (EDRY) – Expecting Weak Third Quarter Financial Results but a Strong Finish to the Year

Posted on by cpereira@noblefcm.com


Wednesday, October 23, 2024

EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spun-off from Euroseas Ltd. on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY. EuroDry operates in the dry cargo, drybulk shipping market. EuroDry’s operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day- to-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters and under pool agreements.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, 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.

Updating estimates. We lowered our 2024 net loss and loss per share estimates to $(2.3) million and $(0.85), respectively, from $(1.8) million and $(0.65). Our revisions were driven by an increase in dry-docking expenses during the third quarter and modestly lower average shipping rates. While we are forecasting a third quarter loss, we expect a relatively strong fourth quarter. We forecast 2025 EBITDA and EPS of $37.3 million and $5.65, respectively.

Market fundamentals. The outlook for the remainder of 2024 remains positive, particularly in the Capesize market which is expected to benefit from Atlantic iron ore and bauxite exports. Rates for Panamax and smaller vessels are expected to remain stable at current rates. Disruptions in the Red Sea have caused re-routing of vessels around Africa which have increased ton-miles. In 2025, bulker earnings may be impacted by outcomes of the Red Sea situation and global economic growth and infrastructure spending, particularly with respect to China.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – ACCO Brands Corporation Announces Third Quarter 2024 Earnings Webcast

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ACCO

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that it will release its third quarter 2024 earnings after the market close on October 31, 2024. The Company will host a conference call and webcast to discuss the results on November 1 at 8:30 a.m. EDT. The webcast can be accessed through the Investor Relations section of www.accobrands.com and will be available for replay.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn and play. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Christopher McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406Source: ACCO Brands Corporation

Release – NN, Inc. to Hold Third Quarter 2024 Earnings Conference Call on Friday, November 1, 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on NNBR

CHARLOTTE, N.C., Oct. 17, 2024 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it will release its third quarter 2024 financial results for the period ended September 30th, 2024, after the close of the market on Thursday, October 31st, 2024. The Company will hold a related conference call on Friday, November 1st, 2024, at 9:00 a.m. E.T. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing 1-877-255-4315 and from outside the U.S. at 1-412-317-6579.

The conference call will be webcast simultaneously and in its entirety through the NN, Inc. Investor Relations website. Shareholders, media representatives and others may participate in the webcast by registering through the Investor Relations section on the company’s website at https://investors.nninc.com/.

For those who are unavailable to listen to the live call, a replay will be available shortly after the call on NN’s website through November 1st, 2025.

About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.

Investor & Media Contacts:
Joe Caminiti or Stephen Poe, Investors
Tim Peters or Emma Brandeis, Media
NNBR@alpha-ir.com 312-445-2870

Source: NN, Inc.