BRENTWOOD, Tenn., July 07, 2026 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) announced today that it will release its 2026 second quarter financial results after the market closes on Wednesday, August 5, 2026. A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, August 6, 2026.
To participate via telephone and join the call live, please register in advance. Upon registration at https://register-conf.media-server.com/register/BI99959d3b30da46f3a101e52cd0e2654d, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode.
Participants may access the audio-only webcast of the conference call from the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. A replay of the webcast will be available for seven days.
About CoreCivic
CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that help build safer, healthier, and more productive communities one person at a time through residential corrections, detention, and reentry management, adjacent service offerings that include pharmaceutical, transportation, and alternatives to incarceration, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. We have been a flexible and dependable partner for government for more than 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.
BRENTWOOD, Tenn., July 06, 2026 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today that on July 2nd, 2026, it completed the sale of its 2,560-bed California City Detention Facility in California City, California (the California City Facility) and its 1,994-bed Otay Mesa Detention Center in San Diego, California (the Otay Mesa Facility) to the United States of America and its assigns, by and through the Department of Homeland Security for an aggregate gross sales price of $1.5 billion, including $732.6 million for the California City Facility and $739.2 million for the Otay Mesa Facility. These two purpose-built facilities were specifically designed to care for individuals in a secure environment. After federal and state income taxes of approximately $0.4 billion and transaction expenses, the Company anticipates its net proceeds from the asset sales to be approximately $1.1 billion.
The Company expects to use a portion of the net proceeds from the asset sales to
Repay all or a portion of the outstanding indebtedness under the Company’s Bank Credit Facility, which currently has an outstanding balance of $270.0 million on the Revolving Credit Facility, $107.8 million on the Initial Term Loan, and $100.0 million on the Incremental Term Loan, and
Repay the remaining outstanding balance of $238.5 million of the Company’s 4.75% senior notes, which are scheduled to mature in October 2027 (the 4.75% Notes).
The Company expects to use the remaining net proceeds for general corporate purposes, which may include additional debt repayments and share repurchases of the Company’s common stock. The credit agreement governing the Company’s Bank Credit Facility (the Credit Agreement) and the indenture (the 2029 Notes Indenture) governing the Company’s outstanding 8.25% senior notes due 2029 (the 8.25% Notes) limit our ability to make certain restricted payments, including share repurchases. However, the Company is permitted to make unlimited restricted payments (i) under the Credit Agreement, to the extent the Company’s consolidated secured leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 1.50 to 1.00 and no default exists thereunder, and (ii) under the 2029 Notes Indenture, to the extent the Company’s consolidated total leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 2.00 to 1.00.
The Company also expects to maintain balance sheet flexibility to pursue growth opportunities. These opportunities include, but are not limited to, potential acquisitions within the Company’s lines of business and those that provide complementary services provided such opportunities enhance the Company’s business, diversify the Company’s cash flows, and/or increase the services the Company offers to its customers, similar to the acquisition of Clinical Solutions Pharmacy completed on April 1, 2026.
The Company currently expects to continue to manage the California City Facility and the Otay Mesa Facility under the existing management contracts with Immigration & Customs Enforcement (ICE) related to each facility, although the terms of the management contracts may be modified to reflect the change in ownership. However, the Company can provide no assurance that it will continue to manage these facilities in the future, or that the terms of the existing management agreements will remain the same. As has always been the case, ICE has the ability to terminate the management contracts for non-appropriation of funds or for convenience. The management contract for the California City Facility expires in August 2027, and the management contract for the Otay Mesa Facility expires in December 2029 and contains a five-year extension option.
In addition to these asset sales, the Company has been in discussions with ICE about the potential acquisition of additional detention facilities from the Company. These discussions are in various stages, and the Company can provide no assurance that any additional sales will occur.
Patrick Swindle, CoreCivic’s President and Chief Executive Officer, commented, “We are pleased with the sales of these two mission-critical facilities for the Company’s government partner, which demonstrates the value of the Company’s underlying real estate portfolio, while reflecting our role as a long-term, flexible solutions provider to government. The sale of these facilities at what we believe is a fair valuation provides the Company with significant balance sheet flexibility and positions us well to grow the Company’s businesses and return value to its shareholders, while remaining a dependable partner for government.”
About CoreCivic
CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that help build safer, healthier, and more productive communities one person at a time through residential corrections, detention, and reentry management, adjacent service offerings that include pharmaceutical, transportation, and alternatives to incarceration, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. CoreCivic has been a flexible and dependable partner for government for more than 40 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.
Forward-Looking Statements
This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy, legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government as a consequence of presidential executive orders, changes in how the federal government, including ICE, elects to use our detention capacity or otherwise procures alternative detention capacity, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) our ability to successfully activate idle facilities in a timely manner in order to meet the growth in demand for our facilities and services from the federal government that has occurred as a result of changes in policies and actions of the current presidential administration, and to realize projected returns resulting therefrom; (v) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (vi) fluctuations in our operating results because of, among other things, changes in occupancy levels; competition; contract renegotiations or terminations; inflation and other increases in costs of operations, including a rise in labor costs; fluctuations in interest rates and risks of operations; (vii) government budget uncertainty, the impact of debt ceilings and government shutdowns, including partial shutdowns, and changing budget priorities; (viii) our ability to successfully identify and consummate future development and acquisition opportunities, integrate their operations, and realize projected returns resulting therefrom; (ix) the availability of debt and equity financing on terms that are favorable to us, or at all; and (x) the potential for additional sales and intended use of proceeds from the asset sales described in this press release. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.
We take no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services, except as may be required by law.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, including the 4.75% Notes or the 8.25% Notes, nor shall it constitute a notice of redemption under the indenture governing the 4.75% Notes or the 2029 Notes Indenture, nor shall there be any offer, solicitation or sale of the 4.75% Notes, the 8.25% Notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
New Multi-Year Railcar Order Extends Backlog Visibility and Supports Second Quarter Commercial Momentum, Reflecting Customer Confidence in FreightCar America’s Commercial, Engineering and Manufacturing Platform
CHICAGO, July 06, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a leading North American manufacturer and supplier of freight railcars, railcar parts and components, today announced that it has entered into a new multi-year order for 1,900 railcars from a key customer, with deliveries scheduled through 2028. The Company also announced that second quarter orders totaled approximately 3,000 railcars, representing a commercial inflection point as demand for differentiated, agile manufacturing solutions continues to grow.
Highlights
Secured a new multi-year order for 1,900 railcars, with deliveries scheduled through 2028, expanding backlog visibility and reflecting customer confidence in the Company’s execution and manufacturing capabilities.
Second quarter orders totaled approximately 3,000 railcars, valued at approximately $300 million, with orders received across every core market segment, reflecting broad-based demand and product diversity.
Multiple first-time customer orders, together with meaningful repeat customer activity, underscore strength of commercial presence, product offering and manufacturing platform.
“Customers are increasingly choosing FreightCar America because we are delivering what the market needs in conditions where customers need us most. Anchored by our engineering capability, manufacturing agility and focus on quality, we continue to position ourselves to gain share and capture significant order momentum during the quarter,” commented Nick Randall, President and Chief Executive Officer of FreightCar America. “This new multi-year commitment for 1,900 railcars is a testament to that, marking a milestone for the Company and showcasing the confidence our customers put into our ability to execute over a sustained delivery horizon.”
Randall continued, “With approximately 3,000 railcars ordered in the quarter, we are seeing an inflection point in terms of commercial momentum across our differentiated product portfolio. These orders highlight the value customers place on our ability to move quickly, tailor solutions to their needs and support transportation capacity across the North American supply chain. We believe FreightCar America is well positioned as an execution-focused railcar manufacturer in a market where reliability, responsiveness and delivery performance matter more than ever.”
Certain orders referenced in this release are subject to customary documentation and completion of terms.
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.
Forward-Looking Statements
This press release contains statements relating to our expected financial performance, financial condition, and/or future business prospects, events and/or plans that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse economic and market conditions, including inflation; material disruption in the movement of rail traffic for deliveries; fluctuating costs of raw materials, including steel and aluminum; delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and customer acceptance of orders; the highly competitive nature of our industry; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers; and other competitive factors. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.
NN to manufacture critical components for a leading robotic-assisted surgery platform
CHARLOTTE, N.C., July 06, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers, co-develops and manufactures precision components and assemblies with six sigma quality, today provided an update on developments in its Medical Products business, one of the Company’s key targeted growth markets. The components of the Medical Products growth program are:
Specialized quality control systems in the plants that make medical products
Global footprint in North America, China, South America, Europe
NN has achieved awards to support major OEMs in Ultrasound, Interventional Cardiology, Sports Medicine & Extremity Solutions, and Robotic-Assisted Surgery. Robotic-Assisted Surgery is a new breakthrough area of success and the focus of this press release. NN has now become qualified and has received initial POs tied to a leading robotic-assisted surgery platform. This momentum complements NN’s legacy medical work in surgical instruments, orthopedic tools/components, electrosurgical products, suture-related products, and precision medical components.
A recent and most difficult step to entering the Robot-Assisted Surgery market was passing a critical full-facility audit at NN’s Kentwood, Michigan plant. Successfully passing this audit was made possible by completing a multi-year investment program and installing a new quality system. With this new medical certification now steady-state, a large and well-known new customer has released its first purchase orders to NN, with immediate delivery and ramp-up requirements. This also provides NN with references and an avenue to quote and win additional programs.
With this new customer, the new medical certification, and new medical products, NN’s medical new business pipeline has increased in size by ~$25 million and is now approximately $75 million overall. This is now a meaningful component of NN’s total corporate new business pipeline of >$750 million which includes all products for all markets.
Robotic-assisted surgery is the fastest-growing method of surgical care, expanding at double-digit annual rates in the United States. The underlying growth of this key market reflects a strong secular growth opportunity for precision component suppliers like NN that possess the critical engineering capability, quality systems, and global manufacturing footprint to serve it. NN is uniquely positioned to participate in medical market growth as a qualified manufacturer. NN is actively investing into the medical market with dedicated staff, tradeshow attendance, additional equipment, and new products.
Harold Bevis, President and Chief Executive Officer of NN, Inc., commented, “This is a milestone event for NN’s medical products growth program and a direct payoff on the investments we have made over the last three years to establish a premier presence in this medical market. We needed to upgrade our quality system to the medical level and we have done it.
“Medical Products is one of our five targeted growth markets and we have been very deliberate about building the capabilities required to compete and win. This includes specialized machines, dedicated floor space, certified quality systems, and a dedicated medical team. Passing this full facility quality audit and securing our first newly associated purchase orders to make precision components for a leading robotic surgery platform is a good step forward for NN.”
Bevis continued, “Our precision stainless steel machining expertise supports these new markets well. We are successfully executing on our stated growth goals in the medical products market, and we intend to both grow with this particular customer, as well as more fully participate in the broader medical market.
“This medical products achievement is consistent with our growth program overall. We are partnering for long-term success with OEM category winners. We are successfully building the Company’s business profile in new markets and with new customers. Safety-critical, engineered components are our core value proposition. We support it with a clever team, material science, six sigma quality, and global manufacturing footprint. The medical products achievements announced today, combined with the strong momentum we are experiencing in data center and defense, continue to demonstrate that our entrepreneurial breakout growth program is working well.”
Bevis concluded, “NN is underway with a multi-year program of growing its business into new areas. It is awesome to have the Medical Products portion of the 5 Pillar growth program achieving breakthrough victories. The 5 pillars of break-out growth continue to be: data center and electric grid, defense and electronics, medical products, high-value vehicle products, and high-value stamped products.
We will combine this Medical Product new win information with our recent new wins in Data Center and adjust 2026 sales, adjusted EBITDA, and New Wins guidance, if needed, during NN’s next business and guidance update in August. We look forward to discussing this big advancement during that time.”
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, South America, Europe, and China. For more information about the company and its products, please visit www.nninc.com.
Forward-Looking Statements This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the future growth of NN’s medical business, including NN’s expectations regarding current and future customers and programs, the size and future outlook of the medical market, including robotics-assisted surgery, NN’s competitive position in the medical market, expected new business wins for 2026, and NN’s 2026 performance and other statements that are not historical facts.
Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “achieve,” “growth,” “enable,” “improve,” or the negative of these terms, and similar words, phrases or expressions that convey uncertainty of future events or outcomes. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; inflationary pressures and material changes in the costs and availability of raw materials, supply chain shortages and disruptions, the availability of labor and labor distributions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the restrictions contained in our debt agreements; the level of our indebtedness and our ability to financing at favorable rates, if at all, or to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; the impact on climate change on our operations; economic, social and geopolitical instability, military conflict, currency fluctuations, and other risks of doing business outside of the United States; and uncertainty of government policies and actions in respect to global trade and tariffs, including the potential impacts of tariffs on the United States economy, the economy of other countries in which we conduct operations and our industry, cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
Investor & Media Contact: Joe Caminiti [email protected] 312-445-2870
CHICAGO, June 29, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) announced today that it has been added to the Russell 2000® and Russell 3000® indexes, effective June 29, 2026.
“We are pleased to be recognized through the inclusion in the Russell indexes, which we view as a reflection of FreightCar America’s growth trajectory and the progress we have made strengthening our business,” said Nick Randall, President and Chief Executive Officer. “Membership in these widely followed benchmarks broadens our visibility within the institutional investment community and reinforces our commitment to creating long-term value for our shareholders.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.2 trillion in investor assets are benchmarked to or invested in products based on the Russell US Indexes, according to FTSE Russell, a leading global index provider.
The June reconstitution of the Russell US indexes captures up to the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for half a year beginning 2026, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
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.
CHARLOTTE, N.C., June 29, 2026 (GLOBE NEWSWIRE) — NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies with six sigma quality, today provided an update on its rapidly growing Data Center business. NN’s combined Data Center and Electric Grid business is already its 2nd largest business, with a further goal to grow the business into the Company’s largest business by sales. The Data Center & Electric Grid end markets are top targeted growth markets for the Company along with Medical products and Defense and Electronics products.
NN has secured a significant amount of additional 2026 immediate-supply awards for liquid cooling products that go into NVIDIA AI data center racks. The new awards in this announcement are additive to prior communicated awards and greatly increase the size of NN’s liquid cooling product portfolio for AI data center racks.
NN is on its way to having 52 dedicated machines to make liquid cooled products for its data center business. 50 machines will be dedicated production lines and an additional 2 machines will be dedicated to making samples for new business. NN has already pre-sold 100% of the production capacity. NN is continuing to prospect globally and is using its global business development team and global machining footprint to prospect for additional business in this fast-growing area. In 2026, NN has attended Data Center tradeshows in the United States, Europe, and China.
Harold Bevis, President and Chief Executive Officer of NN, Inc. commented, “The liquid-cooled AI data center market is one of our targeted end markets for growth. We announced the successful launch of a new product line in Q1 2026. It is a custom-designed, stainless-steel product line for the liquid-cooled data center market. Since then, we have secured multiple AI data center awards, have invested in an initial complement of 17 next-generation, high-speed, high-precision CNC machines at our Wuxi, China plant, and began production. We have a big set of data center products already but we are just beginning. We make products that go into both the electrical system and cooling system for Data Centers and produce these products in multiple plant locations.
Today, we are pleased to announce that we have tripled the size of the liquid cooling product line that just launched in Q1 2026. Specifically, we have secured another set of multi-year, multi-product awards for stainless-steel cooling products for the NVIDIA supply chain. NN is now underway with procuring an additional 30 new machine centers on top of the 17 new CNC machine centers we previously announced. Additionally, we have successfully repurposed and retooled 5 automotive CNC production centers to become dedicated data center production. We have a strategic goal to rotate out of commodity auto products and this accelerates the achievement of that objective.”
Bevis continued, “We are building a meaningful position in the global supply chain for liquid cooled AI systems. The Wuxi plant had approximately 200 CNC machine centers before successfully entering the data center business. These additional 47 machine centers bring the total in that plant to approximately 250 CNC machine centers when this expansion is complete. We have large aspirations with our global footprint, and the industry needs NN to scale up and supply more. The AI data center liquid cooling industry is scaling very rapidly, and we are participating in the global data center buildout. This is a natural product fit as we are experienced veterans in pressurized fluid management, stainless steel part production, exceptional repetitive quality levels at high volumes, electropolishing, abrasive flow machining, debris-free and leak-free products, and fast innovation.
We have a dedicated company effort to grow Data Center products, and we are happy to have secured our next set of new awards. This expansion and ramp up is underway now during Q2 2026 and will be additive to our 2026 sales. Based on equipment lead times, the 47th new machine will be installed in November 2026. We are underway prospecting for additional awards and developing new products. As mentioned, the 47 new machines in this announcement will go into NN’s Wuxi, China plant and it will be supplying parts into NVIDIA’s Asia supply chain in China, Taiwan, and Vietnam. NN’s Wuxi China plant is a global low-cost plant that is well known in the metal part making industry. It is in an ideal location for supplying the metal parts that go into the global supply chain for AI data center racks. We believe these data center racks which are being produced in Asia are coming back to the US and being installed in data centers being built in the United States AI market.”
Bevis concluded, “As next generation supply chain decisions are being made in the data center industry, NN intends to use its global footprint of machining plants to participate further. This is a multi-billion market that is scaling up right now, and these computing racks are the hardware behind the expanding use of AI and cloud computing. These new awards fit within NN’s previously issued new wins guidance for achieving $80 to $90 million of accretive new business during 2026. We will combine this new information along with other information and adjust 2026 and 2027 sales and EBITDA guidance, if needed, during NN’s next business and guidance update when we release Q2 earnings in early August. We look forward to discussing this big advancement during that time.”
About NN’s Fluid Management Products
NN is a leader in precision fluid management products for over 40 years. The Company makes precision metal fluid management components including valve body, socket body, valve seat, sealing seat, needle, plunger, plug base, socket base, guides, and threaded connector parts. Given its long-term expertise, NN can make these products in a variety of manners across high-mix, medium-speed single spindle machines as well as high-volume, high-speed production with multi-spindle machines and rotary transfer systems. It makes these products in-house in its plants in China, Europe, South America, and North America. NN makes these products today and has for decades under multi-year contracts for many of the top OEMs in the world. The goal is leak-free, debris-free products that never fail during the life of the equipment.
NN’s existing liquid management products precisely fit the requirements of data center applications, and the demanding performance and quality requirements of AI data center and cloud customers are a direct use of the Company’s existing capabilities. Furthermore, next generation computing designs require even higher power use and even higher heat generation, which will lead to next-generation liquid-cooled computing systems and components. The Company can already make products that are advanced beyond today’s requirements. NN has delivered six sigma quality, micron-level tolerance parts for combustion engines for decades. The Company’s decades of global experience and footprint are directly applicable to this new area.
About NN
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 China. For more information about the Company and its products, please visit www.nninc.com.
Forward-Looking Statements
This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding future growth of NN’s liquid-cooled AI data center business, the procurement and timing of additional machines to support the liquid-cooled AI data center business, NN’s aspirations , the size and future outlook of the data center market, NN’s competitive position in the data center market, , expected new business wins for 2026, the Company’s 2026 performance and other statements that are not historical facts.
Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “achieve,” “growth,” “enable,” “improve,” or the negative of these terms, and similar words, phrases or expressions that convey uncertainty of future events or outcomes. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; inflationary pressures and material changes in the cost or availability of raw materials, supply chain shortages and disruptions, the availability of labor and labor distributions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product officers; our ability to hire or retain key personnel; the restrictions contained in our debt agreements; the level of our indebtedness and our ability to obtain financing at favorable rates, if at all, or to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; the impact on climate change on our operations; economic, social and geopolitical instability, military conflict, current fluctuation, and other risks of doing business outside of the United States; and uncertainty of government policies and actions in respect to global trade and tariffs, including the potential impacts of tariffs on the United States economy, the economy of other countries in which we conduct operations and our industry, cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
CHICAGO, June 16, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today announced the appointment of Bradley J. Pickard to its Board of Directors, effective as of June 10, 2026. Mr. Pickard will serve as an independent director. FreightCar America’s Board now comprises nine directors, six of whom are independent.
“We are excited to welcome Brad to FreightCar America’s Board of Directors,” said James R. Meyer, Chairman of the Board. “His more than three decades of corporate finance, capital markets and strategic advisory experience will bring a valuable perspective as we continue to strengthen our platform, expand our aftermarket capabilities and pursue disciplined opportunities to create long-term shareholder value.”
Mr. Pickard is a Managing Director of Republic Partners, LLC, where he has served since 2014. He brings more than three decades of investment banking experience, including leadership roles at Salomon Brothers, Wasserstein Perella and Houlihan Lokey Howard & Zukin. He brings extensive transaction and advisory experience in rail, trucking and logistics. Mr. Pickard has served on the boards of First Mercury Financial and Schurman Retail Group / Papyrus. He holds a Bachelor of Arts degree from the University of Michigan and a Master of Business Administration from the University of Chicago.
AboutFreightCarAmerica
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.
Industry Veteran and Seasoned Leader Brings Decades of Engineering and Leadership Experience
CHARLOTTE, N.C., June 09, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers, co-develops and manufactures high-precision components and assemblies with six sigma quality, today announced the appointment of Robert Esch to the role of President & Chief Technical Officer, Machined Products, effective June 8, 2026. Esch has served as NN’s technical and business development leader of machined products for several years. He brings an entrepreneurial and growth-minded agenda to the leadership role, which will help to serve NN’s strategic growth initiatives and ongoing transformation.
“As part of our global leadership team, Rob is central to our growth programs. With this step we are aligning the other functions under Rob so that he is empowered at the highest level to make a difference for customers and the Company, both short-term and long-term,” said Harold Bevis, CEO. “Rob is globally savvy and has held key roles for the Company with responsibility for the US, South America, Europe and China, which makes him exceptionally well-suited to lead our machined products businesses worldwide. He is already underway in his new role and is actively leading our efforts in the auto, electric grid and data center, commercial vehicle, medical and defense and electronics markets.”
Rob Esch commented, “The precision machined products markets, where NN has multiple leadership positions, are constantly evolving and require active participation. This company has been my home for my entire professional career, and we have a great team and global capabilities. Now is the right time to elevate our performance to the next level.”
Esch’s leadership over multiple businesses will ensure a consistent technical agenda for those operations and their customers globally. He will lead NN’s businesses historically known as Mobile Solutions Group in North America, South America, and Europe, and will additionally retain technical leadership over all Mobile Solutions sites worldwide. Esch holds a Bachelor of Science in Manufacturing Engineering Technology from Ferris State University.
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, South America, Europe and China. For more information about the company and its products, please visit www.nninc.com.
FORWARD-LOOKING STATEMENTS This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding NN’s pursuit of new end markets, NN’s competitive position in the data center market, the success of NN’s investments to meet the requirements of awarded business, and expected new business wins for 2026 and other statements that are not historical facts. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “growth,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “trajectory” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; material changes in the costs and availability of raw materials; the level of our indebtedness; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
Investor & Media Contacts: Joe Caminiti or Abe Plimpton [email protected] 312-445-2870
NCS Multistage is not a generalist oilfield services company. It operates in a specific and technically demanding niche: highly engineered products and support services that optimize well construction, completion, and field development strategies — primarily in horizontal wells drilled in unconventional oil and gas formations. Its technology is designed to improve reliability and production performance across the full well lifecycle, from initial completion design through late-stage production optimization and intervention.
The company operates primarily across North American basins and has established a presence in select international markets including the North Sea, the Middle East, and Argentina. That international footprint, while smaller than Weatherford’s, gives the combined company immediate leverage to cross-sell NCS Multistage’s technology into Weatherford’s six-continent global customer base — which is one of the most compelling near-term value creation levers in the deal.
Why This Deal Makes Sense Right Now
Weatherford is making a direct bet on two intersecting trends. The first is the sustained relevance of unconventional resource development. Despite the ongoing shift toward energy transition narratives, horizontal drilling and hydraulic fracturing in unconventional formations remain the backbone of North American oil and gas production. NCS Multistage’s core technology sits squarely in that production stream, and demand for completion optimization tools that improve per-well economics has not softened.
The second trend is consolidation driven economics. Smaller, specialized oilfield technology companies with strong engineering capabilities but limited distribution reach are increasingly attractive acquisition targets for larger platforms that can scale those technologies globally. NCS Multistage had the technology and the reputation. Weatherford has the footprint and the financial capacity to take it international.
Piper Sandler served as financial advisor to NCS Multistage in the transaction.
The Broader Signal for Small Cap Energy Services
For investors tracking the sub-$2 billion oilfield services and energy technology space, the Weatherford-NCS deal continues a pattern worth monitoring. Specialized completion technology, production optimization tools, and unconventional resource services companies have been consistent acquisition targets as larger players look to deepen technical differentiation rather than compete purely on scale.
The Iran conflict has kept oil prices elevated despite recent ceasefire negotiations, and sustained prices above $90 WTI support the capital spending levels that drive demand for exactly the kind of completion technology NCS Multistage provides. In that environment, companies with defensible technology niches and proven field performance records are not staying independent for long.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Factory-Built housing meets public markets. BOXABL plans to become a publicly traded company through its proposed business combination with FG Merger II Corp. The transaction is expected to provide additional capital to support manufacturing optimization, production scaling, and broader market expansion initiatives.
Industrializing housing at scale. BOXABL is applying centralized manufacturing processes to residential construction to improve efficiency, lower costs, and accelerate deployment timelines. By standardizing production and reducing transportation complexity, BOXABL aims to deliver lower-cost housing solutions at scale. The company’s modular housing strategy is designed to address growing affordability challenges across entry-level and workforce housing markets.
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*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.
Stratasys Ltd. (Nasdaq: SSYS), a Minnesota and Israel-based leader in additive manufacturing solutions, announced Wednesday it has entered into a definitive agreement to acquire MarkForged, Inc. in an all-cash transaction valued at $42.5 million, subject to customary adjustments. MarkForged is currently a wholly owned subsidiary of Nano Dimension (Nasdaq: NNDM), which will retain MarkForged’s Metal Binder Jetting product line as part of the deal structure. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
At $42.5 million for a business that generated approximately $70 million in revenue in 2025, the transaction reflects an implied revenue multiple of roughly 0.6 times trailing sales. Stratasys expects the deal to be accretive to gross margins and generate positive adjusted EBITDA contribution within the first year following close, though actual results may differ from these forward-looking projections.
What Stratasys Is Acquiring
MarkForged built its core technology around Continuous Carbon Fiber Fused Filament Fabrication, a manufacturing approach that enables production of parts that are lighter and stronger than traditional alternatives. Its integrated platform, the Digital Forge, combines 3D printing hardware, proprietary high-performance materials, and a software ecosystem that includes simulation, part management, and automated print optimization designed with security and compliance requirements in mind.
The acquisition adds a broad portfolio of high-performance polymer and metal filaments to Stratasys’ existing materials capabilities, expanding the combined company’s addressable market across aerospace, defense, automotive, and industrial production verticals. MarkForged’s partner and reseller network is also expected to generate cross-selling opportunities across both companies’ existing customer bases.
The Industry Context
The additive manufacturing sector has been undergoing consolidation as demand for production-grade 3D printing grows in defense and aerospace applications. Government agencies including the Air Force Research Laboratory, DARPA, and the Space Force have expanded procurement of components produced through additive manufacturing for tooling, fixtures, ground support equipment, and select production parts.
Supply chain resilience has emerged as a structural driver of this demand. The ability to produce certified, production-ready components digitally on demand reduces dependence on traditional global supply chains, a priority that has gained urgency across both commercial and defense manufacturing environments since 2020. Stratasys positions this acquisition as a response to that demand shift, strengthening its capabilities in sectors where performance, reliability, and manufacturing agility are operational requirements.
Key Risks to Monitor
As with any acquisition, execution risk exists. The successful integration of MarkForged’s operations, technology, and personnel into Stratasys is not guaranteed. Stratasys is itself a small cap company operating in a competitive and evolving technology sector. The additive manufacturing market continues to face headwinds including longer-than-anticipated enterprise adoption cycles, pricing pressure from emerging competitors, and macroeconomic factors that can compress capital equipment budgets at customer organizations. The projected synergies and EBITDA accretion within the first year are forward-looking estimates and may not materialize as projected.
Stratasys has indicated it will update its financial guidance following the closing of the transaction.
WEST HARRISON, N.Y.–(BUSINESS WIRE)– Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“SHG” or the “Company”), an aviation infrastructure company building the first nationwide network of Home Base Operator (HBO) campuses for business aircraft, announced the release of its unaudited financial results for the three months ended March 31, 2026 on Form 10-Q. The Company also announced the filing of its unaudited financial results for the three months ended March 31, 2026 for Sky Harbour Capital LLC (Obligated Group) with MSRB/EMMA. Please see the following links to access the filings:
Financial Highlights on a Consolidated Basis include:
Constructed assets and construction in progress reached over $350 million at quarter-end, an increase of $75 million year-over-year.
Q1 2026 consolidated revenues increased 56% as compared to Q1 2025 and 8.3% as compared sequentially to the prior quarter.
Net cash used in operating activities was approximately $3.9 million for the quarter, compared to approximately $5.1 million used in Q1 2025.
Strong liquidity and capital resources at quarter end, with consolidated cash and US Treasuries totaling $187.6 million and access to $180.6 million of the committed JP Morgan drawdown construction bank facility (“JPM Facility”).
Refer to our 10-Q for presentation of GAAP net income and adjusted EBITDA (Non-GAAP) results.
Financial Highlights at Sky Harbour Capital LLC (“Obligated Group”) include:
Q1 2026 Obligated Group revenues increased 76.2% as compared to Q1 2025 and 15.1% as compared sequentially to the prior quarter.
Net cash provided by operating activities reached approximately $2.9 million in Q1 2026, an increase from the $1.0 million cash provided by operating activities in Q1 2025.
Cash and US Treasuries at the Obligated Group totaled $17.9 million as of March 31st, 2026 apart from access to the proceeds of the Series 2026 Bonds for construction completion of Phase 2 at Addison Airport (“ADS”).
Debt Service Coverage Tests, calculated as per the Bond Indenture for the period ending March 31st, 2026 and the next twelve months budget are in compliance with applicable covenant ratios.
Update on Leasing Activities
Stabilized campuses: The Company continues to enjoy higher-than-forecast revenue per square foot at its stabilized campuses, with economic occupancy reaching 103% for campuses open for more than 6 months. Revenue per square foot continues to grow as legacy hangar leases turn over.
Miami–Opa Locka Executive Airport (“OPF”) Phase 2 opened May 11 with 68% occupancy as of May 13th, at average contracted revenue per square foot higher than the highest revenue tenant at OPF Phase 1.
As of May 13th, Dallas Addison Airport (“ADS”) Phase 1, Phoenix Deer Valley Airport (“DVT”) Phase 1 and Denver Centennial Airport (“APA”) have achieved 91%, 76% and 44% occupancy respectively.
Update on Construction and Development Activities
Obligated Group 1 Construction
OPF Phase 2 received Temporary Certificates of Occupancy on May 11th and is now operational.
ADS Phase 2 is on schedule, expected to open prior to the end of the year. Please see the following link for the latest Obligated Group monthly construction report: https://emma.msrb.org/P22034299-P21548857-P22007097.pdf
Portfolio 2 Construction
Bradley International Airport (“BDL”) in Hartford, CT is on schedule, expected to be completed by November 2026.
Salt Lake City International Airport (“SLC”) is on schedule, expected to be completed in Q1 2027.
Hudson Valley Regional Airport (“POU”), in Poughkeepsie, NY is on schedule, expected to be completed by Q3 2027.
Orlando Executive Airport (“ORL”) is on schedule, expected to be completed by Q3 2027
BDL, SLC and POU are part of our second portfolio of airport projects (“Portfolio II”), financed through the JPM Facility and the Series 2026 Bonds. Their construction progress can be monitored through a monthly construction report filed with MSRB/EMMA: https://emma.msrb.org/P22035088-P21549466-P22007738.pdf
Portfolio 2 Development
Washington Dulles International Airport (IAD), Trenton-Mercer Airport (TTN) in New Jersey, and Chicago Executive Airport (PWK) are all scheduled to begin construction by Q4 2026.
Update on Airport Operations
As of Q1 2026, the Company is operating 1.03 million square feet of hangar and associated office and support space, with approximately 2 million square feet of aviation ramp and vehicle parking.
Surveys of current Residents, which include the nation’s premier business aviation flight departments, indicate that Sky Harbour’s HBO service offering has become a recognized and clearly differentiated offering in business aviation, and is emphatically the solution of choice for top business aviation operators.
The Company continues to invest in constant improvement in service and operations, through selective recruiting, rigorous training and talent development, detailed and thoughtful operating procedures, and constant innovation in collaboration with Sky Harbour Residents.
Update on Capital Formation
As previously reported, Sky Harbour Capital III LLC, a wholly owned, indirect subsidiary of the Company, issued $150 million of subordinated bonds through the Public Finance Authority of Wisconsin municipal conduit on February 12th. Proceeds are earmarked to completing projects at ADS 2 and partially funding the new Portfolio II projects: BDL, SLC, POU, Orlando Executive Airport (“ORL”), Trenton-Mercer Airport (“TTN”), Chicago Executive Airport (“PWK”), and Dulles International Airport (“IAD”) along with proceeds from the JPM Facility.
As of March 31st, 2026, we have drawn $19.4 million from the JPM Facility for reimbursement of capital expenditure advances related to our projects at BDL and SLC. As of today, we have $180.6 million of committed availability under the JPM Facility.
Introduction of 2026 End of Year Guidance
We expect to achieve consolidated revenues of $42-46 million on an annualized run rate basis by year end, up from an annualized run rate of $34.9 million in Q1 2026.
We expect to achieve consolidated Adjusted EBITDA of $4-6 million on an annualized run rate basis by year end, up from an annualized run rate of negative $6.0 million in Q1 2026.
Tal Keinan commented: “OPF Phase 2 is demonstrating 1) the efficacy of the Ascend Integrated Construction Program, including the SH34 Prototype and Stratus PEMB manufacturing, and 2) the benefits of same-field expansion, where the local strength of Sky Harbour’s reputation has generated pent-up demand, facilitating rapid lease-up at rents exceeding forecast. The Sky Harbour model is in place. Our plan is now to replicate it at scale, at the best airports in the country, at a pace that will continue accelerating for the coming years.”
About Sky Harbour
Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home-Basing campuses for business aircraft. The company develops, leases, and manages general aviation hangar campuses across the United States. Sky Harbour’s Home-Basing offering aims to provide private and corporate residents with the best physical infrastructure in business aviation, coupled with dedicated service, tailored specifically to based aircraft, offering the shortest time to wheels-up in business aviation. To learn more, visit www.skyharbour.group.
Forward Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements about the financial condition, results of operations, earnings outlook and prospects of SHG, including statements regarding our expectations for future results, our expectations for future ground leases, our plans for future capital raising activity, the transactions contemplated by the letter of intent, our expectations on future construction and development activities and lease renewals, and our plans for future financings. When used in this press release, the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of Sky Harbour Group Corporation (the “Company”) as applicable and are inherently subject to uncertainties and changes in circumstances. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. For more information about risks facing the Company, see the Company’s annual report on Form 10-K for the year ended December 31, 2025 and other filings the Company makes with the SEC from time to time. The Company’s statements herein speak only as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Key Performance Indicators
We use a number of metrics, including annualized revenue run rate per leased rentable square foot, to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions. Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other issuers. These metrics are estimated operating metrics and not projections, nor actual financial results, and are not indicative of current or future performance.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Transformation Working. NN delivered a strong start to 2026, with first-quarter results rising to the high side of expectations across many metrics, including sales growth, adjusted EBITDA, margin rates, and new business wins. The performance is a direct result of the transformation plan implemented by management in 2023. There are two sides to the coin here: a successful strategic growth program that is being internally funded and an aggressive and ongoing operational improvement program that is generating rising margins.
More To Come. Sales growth is broad. NN’s sales are up with 22 of its top 30 customers. Overall, NN has some 700 customers, and beneath the top 30 customers, business is up with that group as well. And the sales are transforming the Company from its historic automotive orientation to higher growth, higher margin specialties, such as electric grid and data centers, defense electronics, and medical. Collectively, these three markets were up 28% year-over-year in the first quarter. On a consolidated basis, the growth markets accounted for 35% of revenue in 2023 and now constitute 56% of revenue, while automotive has shrunk to 44%.
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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.
