Category: Industrials

Release – NN, Inc. Provides Update on Business Growth in the Data Center, AI Reasoning, and Cloud Computing Markets

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CHARLOTTE, N.C., March 18, 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 growing presence in the data center market, a key targeted growth market for the Company.

NN has secured multiple new awards with a leading global provider of AI infrastructure and data center computing equipment. As this industry moves into liquid cooled equipment, it transitions into a natural market for NN. AI reasoning racks are based on an industry-leading chip that requires liquid cooling, and NN has secured liquid cooling positions on these AI reasoning racks which will be installed in the US for AI cloud computing. NN’s existing liquid management products precisely fit the requirements of these 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.

Harold Bevis, President and Chief Executive Officer of NN, Inc., commented, “The liquid-cooled data center market is one of the Company’s new end markets that it is pursuing along with medical, defense and electronics, and electric grid components. The AI data center market fits precisely into NN’s decades of know-how in fluid management and six sigma quality levels. For NN, it is a strategic and straightforward application of existing know-how with managing gas, diesel and hydraulic fluids and applying that know-how to managing cooling fluids. The material science and technical requirements are extremely similar. As we say ‘never leak, never fail’. We have been doing this successfully for decades as a leading global provider of ‘never leak, never fail’ parts that go into vehicle solutions around the world. Our reputation covers billions of parts made over several decades with many customers. We step into this arena as a formidable competitor from Day 1.”

“We have won a multi-year set of awards which is leading NN to invest in a large installation of 17 next-generation high-speed, high-precision CNC machines that will meet and exceed these requirements. This expansion and ramp up is happening now across 2026. These machines will add to NN’s portfolio of over 100 of these similar machines already in-house. We can do this type of production in the US, China, Europe, and South America. This is a gateway strategic win for NN globally. The AI data center expansion for cloud providers is happening globally. This is a multi-billion market that is hyper scaling now, and these computing racks are the hardware behind the expanding use of AI and cloud computing. Financially, these wins fit within NN’s guidance for achieving $70 to $80 million of accretive new business during 2026. These wins contribute to achieving that goal globally.”

“NN is intentionally shifting its business mix into non-automotive, higher-growth, higher-margin markets. The data center AI reasoning computing approaches use a high amount of power and generate a high level of heat. Liquid cooling and cooling fluid management are vital to the success of these approaches, and NN is an expert at handling fluids under these 24/7 operating conditions. The series of wins that NN is announcing today validates that the Company’s capabilities are directly applicable to these customers and this market. ‘Never leak, never fail’. This is precisely the type of accretive, high-value business that we have been intentionally pursuing as part of our ongoing revenue transformation, and we believe it positions NN for a better future with sustained top line growth and continued margin expansion. We are actively prospecting with other AI reasoning and data center equipment providers. Additionally, the fast-charge Electric Vehicle recharging approaches have the same basic issue; they use a lot of power and quickly create a lot of heat, and liquid cooling approaches are coming to this market as well. NN’s products also fit these requirements.”

Rob Esch, NN’s CTO of Machined Parts, said, “Data center and AI infrastructure customers demand above all else precision, reliability, and a supplier with the deep technical know-how to repetitively deliver manufacturing solutions at scale, and that is exactly what NN brings to the table. Our decades of expertise in high-precision machining, six sigma quality, the use of advanced materials, and our well-developed manufacturing methods for precise fluid management give NN a genuine and differentiated capability to serve this market. We can already meet the stringent performance requirements of liquid-cooled computing architectures. As NN builds its capabilities and reputation in this market, we are poised to flex our technical know-how to continue winning next-generation programs with the world’s leading AI hardware developers and hyperscalers. It is a global phenomenon, and we are organized globally for technical product management, and thus we see this happening in multiple markets. It is very exciting and we bring real value to this market and these customers.”

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 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 Relations: 
Joseph Caminiti or Abe Plimpton
[email protected]  
312-445-2870 

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Source: NN, Inc.

Release – Saltchuk Resources, Inc. and Great Lakes Dredge & Dock Corporation Announce Tender Offer for Any and All 5.25% Senior Notes due 2029 of Great Lakes Dredge & Dock Corporation and Related Consent Solicitation

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Research News and Market Data on GLDD

Mar 18, 2026

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Tender Offer Made in Connection with Parties’ Pending Business Combination Expected to Close Early in the Second Quarter

HOUSTON and SEATTLE, March 18, 2026 (GLOBE NEWSWIRE) — Saltchuk Resources, Inc. (the “Offeror”) and Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) (the “Company”) announced that the Offeror has commenced a cash tender offer (the “Tender Offer”) for any and all of the Company’s 5.25% Senior Notes due 2029 (the “Notes”).

In conjunction with the Tender Offer, the Offeror is soliciting (the “Consent Solicitation”) consents (each, a “Consent” and, collectively, the “Consents”) from holders of the Notes (each, a “Holder” and, collectively, the “Holders”) to amend certain provisions (the “Proposed Amendments”) of the indenture, dated as of May 25, 2021 (as supplemented from time to time prior to the date hereof, the “Indenture”), between Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee (the “Trustee”), the Company and the subsidiary guarantors party thereto, under which the Notes were issued. In order for the Proposed Amendments to be approved with respect to the Notes, Holders of a majority in principal amount of the outstanding Notes must consent to the Proposed Amendments (the “Requisite Consents”). If the Requisite Consents with respect to the Notes are received, the Proposed Amendments would, among other things, eliminate substantially all of the restrictive covenants, eliminate certain events of default and modify certain redemption notice requirements with respect to the Notes.

Holders may not tender their Notes without delivering their Consents pursuant to the Consent Solicitation and may not deliver Consents without tendering their Notes pursuant to the Tender Offer. The terms and conditions of the Tender Offer and Consent Solicitation are described in an Offer to Purchase and Consent Solicitation Statement, dated March 18, 2026 (the “Offer to Purchase and Consent Solicitation Statement”). Capitalized terms used herein, but not otherwise defined, have the meanings ascribed to such terms in the Offer to Purchase and Consent Solicitation Statement.

Upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, the Offeror will pay to each Holder who validly tenders (and does not validly withdraw) their Notes and validly delivers (and does not validly revoke) Consents on or prior to 5:00 P.M., New York City time, on March 31, 2026, unless extended or earlier terminated (such date and time, as the same may be extended, the “Early Tender Deadline”), an amount in cash equal to the Tender Offer Consideration, plus the Early Tender Payment for the Notes (as described in the table below and in the Offer to Purchase and Consent Solicitation Statement) on the Early Settlement Date or Final Settlement Date, as applicable (each of which is defined below and either of which may be referred to herein as a “Settlement Date”), if such Notes are accepted for purchase by the Offeror. Tendered Notes may be withdrawn any time on or prior to 5:00 P.M., New York City time, on March 31, 2026 (such date and time, as the same may be extended, the “Withdrawal Deadline”) but not thereafter. Holders who validly tender their Notes and validly deliver Consents after the Early Tender Deadline but on or prior to the Expiration Time (as defined below) will be entitled to receive the Tender Offer Consideration (as described in the table below and in the Offer to Purchase and Consent Solicitation Statement) but not the Early Tender Payment on the Final Settlement Date, if such Notes are accepted for purchase.

In addition to the Tender Offer Consideration or the Total Consideration (as described in the table below), as applicable, such Holders will also receive accrued and unpaid interest on the Notes that the Offeror accepts for purchase in the Tender Offer up to, but excluding, the applicable Settlement Date (“Accrued Interest”).

The following table summarizes the material pricing terms of the Tender Offer.

The Tender Offer and Consent Solicitation are scheduled to expire at 5:00 P.M., New York City time, on April 15, 2026, unless extended or earlier terminated by the Offeror in its sole discretion (such date and time, as the same may be extended, the “Expiration Time”). If, as anticipated, the Offeror’s pending Equity Offer (as defined below) is consummated prior to the Expiration Time, the Offeror may, in its sole discretion, accept for purchase the Notes that have been validly tendered and not validly withdrawn on or prior to the Early Tender Deadline at or promptly following the consummation of the Equity Offer (the “Early Settlement Date”). If the Offeror elects to schedule an Early Settlement Date, the Offeror will provide a notice of such date by press release or other public announcement. If the Equity Offer is not consummated prior to the Expiration Time, there will be no Early Settlement Date. The Offeror expects to accept for purchase the Notes validly tendered and not validly withdrawn on or prior to the Expiration Time promptly following the Expiration Time (the “Final Settlement Date”), subject to the satisfaction of all conditions to the Tender Offer and Consent Solicitation. In the event that the Equity Offer is not consummated prior to the Expiration Time, the Offeror intends to extend the Expiration Time.

Pending Business Combination and Financing Transactions

The Tender Offer and the Consent Solicitation are being made in connection with, and are expressly conditioned upon the closing of, the acquisition of the Company pursuant to the Agreement and Plan ‎of Merger, dated February 10, 2026 (as it may be amended, supplemented or otherwise modified from time to ‎time, the “Merger Agreement”), by and among the Company, the Offeror, and Huron MergeCo., Inc., a Delaware corporation and wholly owned subsidiary of the Offeror (the “Acquisition Sub”). Pursuant to the terms and conditions of the Merger Agreement, Acquisition Sub commenced a tender offer (the “Equity Offer”) on March 4, 2026 to purchase all of the outstanding shares of common stock, par value $0.0001 per share, of the Company (“Company Common Stock”), for $17.00 per share of Company Common Stock, net to the seller thereof in cash, without interest, subject to any required tax withholdings (subject to the conditions described in the offer to purchase filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 4, 2026, by the Offeror and Acquisition Sub (together with any amendments or supplements thereto, the “Equity Offer to Purchase”). The Merger Agreement also provides that, as soon as practicable on the same business day that Acquisition Sub irrevocably accepts for payment all shares of Company Common Stock that are validly tendered (and not validly withdrawn) pursuant to the Equity Offer, or at another date mutually agreed upon by the Company, the Offeror and Acquisition Sub, upon the terms and subject to the conditions set forth in the Merger Agreement, Acquisition Sub will be merged with and into the Company (the “Merger” and, collectively with the Equity Offer, the “Acquisition Transactions”), with the Company continuing as the surviving corporation and a wholly owned subsidiary of the Offeror.

The Offeror and the Company expect (i) to close the Acquisition Transactions early in the second quarter of 2026, subject to the satisfaction (or, to the extent permitted, waiver) of the conditions set forth in the Merger Agreement, and (ii) the Early Settlement Date to occur on or about the closing date of the Acquisition Transactions, as more fully described in the Offer to Purchase and Consent Solicitation Statement. Assuming the satisfaction or waiver of the conditions to the Equity Offer and the Merger Agreement, the Acquisition Transactions are currently scheduled to close on April 1, 2026. The closing of the Acquisition Transactions is not conditioned on (i) any minimum amount of Notes being tendered, (ii) the receipt of the Requisite Consents or (iii) the closing of the Tender Offer or the Consent Solicitation.

The Offeror intends to finance the cash consideration for the Acquisition Transactions, the refinancing of certain of its existing indebtedness, the discharge of the Notes, and certain related transaction expenses using available cash and either the proceeds of borrowings under the New Credit Agreement (as defined below) or a combination of the Offeror’s existing credit facilities and the proceeds from borrowings under the Bridge Facility (as defined below).

Certain lenders, including an affiliate of the Dealer Manager, have agreed to enter into new senior unsecured credit facilities, which are expected to be provided in the form of either (i) a fully committed, senior unsecured bridge term loan facility (the “Bridge Facility”) or (ii) a new senior unsecured credit agreement (the “New Credit Agreement” and, together with the Bridge Facility, the “New Senior Credit Facilities”) providing for (x) a five-year $1.5 billion revolving credit facility and (y) a five-year $1.25 billion term loan facility.

General Information

The Offeror’s obligation to accept for purchase, and to pay for, Notes validly tendered and not validly withdrawn and to accept accompanying Consents validly delivered and not validly revoked pursuant to the Tender Offer and Consent Solicitation is conditioned upon the following having occurred or having been waived by the Offeror: (1) the consummation of the Equity Offer on the terms and conditions set forth in the Merger Agreement and Equity Offer to Purchase, and (2) the satisfaction of the General Conditions described in the Offer to Purchase and Consent Solicitation Statement. In addition, our obligation to accept Consents that have been validly delivered and not validly revoked pursuant to the Consent Solicitation is further conditioned upon supplemental conditions described in the Offer to Purchase and Consent Solicitation Statement. There can be no assurance that the Tender Offer or the Consent Solicitation will be consummated. The Offeror may amend, extend or terminate the Tender Offer and the Consent Solicitation, in its sole discretion. The Tender Offer is not conditioned on any minimum amount of Notes being tendered or the receipt of the Requisite Consents.

The Offeror intends to fund the Total Consideration and the Tender Offer Consideration (including, in each case, the Accrued Interest), plus all related fees and expenses, using available cash and the borrowings described above under Pending Business Combination and Financing Transactions.

Any Notes not tendered and purchased pursuant to the Tender Offer will remain outstanding. If the Requisite Consents are received with respect to the Notes, and the Proposed Amendments become operative with respect to the Indenture, then the Notes that are not purchased pursuant to the Tender Offer will be subject to the Proposed Amendments as set forth in a supplemental indenture with respect to the Indenture.

To the extent any Notes remain outstanding following the consummation of the Tender Offer and Consent Solicitation, the Offeror intends, but is not obligated, to redeem such remaining Notes at par on or after June 1, 2026 and satisfy and discharge the Company’s obligations under the Indenture pursuant to the terms thereof. Alternatively, the Offeror may cause the Company to leave any such remaining Notes outstanding or effect any of the alternative transactions described in the Offer to Purchase and Consent Solicitation Statement.

BofA Securities has been retained as the Dealer Manager in connection with the Tender Offer and as the Solicitation Agent in connection with the Consent Solicitation. In such capacities, they may contact Holders regarding the Tender Offer and the Consent Solicitation and may request brokers, dealers, banks, trust companies and other nominees or intermediaries to forward the Offer to Purchase and Consent Solicitation Statement and related materials to beneficial owners of Notes. Questions and requests for assistance regarding the terms of the Tender Offer and the Consent Solicitation should be directed to the Dealer Manager at (888) 292-0070 (toll-free) or (980) 388-3646 (collect). Questions regarding the procedures for tendering Notes and delivering Consents relating to the Tender Offer and the Consent Solicitation or requests for additional copies of the Offer to Purchase and Consent Solicitation Statement may be directed to Global Bondholder Services Corporation, the Tender and Information Agent for the Tender Offer, at (212) 430-3774 (for banks and brokers only) or (855) 654-2014 (toll-free) (for all others) or [email protected].

This press release is for informational purposes only. The Tender Offer and the Consent Solicitation are being made solely pursuant to the Offer to Purchase and Consent Solicitation Statement. This press release does not constitute an offer to purchase or the solicitation of an offer to sell any securities. Full details of the terms and conditions of the Tender Offer and the Consent Solicitation are described in the Offer to Purchase and Consent Solicitation Statement, which is being furnished by the Offeror to Holders of the Notes. Holders of the Notes are encouraged to read the Offer to Purchase and Consent Solicitation Statement and the information incorporated therein by reference, as they contain important information regarding the Tender Offer and the Consent Solicitation. The Tender Offer and the Consent Solicitation are not being made to Holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer or the Consent Solicitation to be made by a licensed broker or dealer, the Tender Offer and the Consent Solicitation will be deemed to be made on behalf of the Offeror by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This press release is for information purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. The Offeror’s solicitation and offer to buy shares of Company Common Stock is being made only pursuant to the Equity Offer to Purchase and related materials that the Offeror and Acquisition Sub have filed with the SEC. In connection with the Equity Offer, the Offeror and Acquisition Sub have filed a Tender Offer Statement on Schedule TO with the SEC and the Company has filed a Solicitation/Recommendation Statement on Schedule 14D-9. Before making any investment decision with respect to the Equity Offer, investors and security holders of the Company are urged to read the tender offer materials, the solicitation/recommendation statement and any other relevant documents filed with the SEC. In addition, all of these materials (and all other tender offer documents filed with the SEC) are available at no charge from the SEC through its website at www.sec.gov and upon request to MacKenzie Partners, Inc., the information agent for the Equity Offer, at 7 Penn Plaza, New York, New York 10001, by calling toll free (800) 322-2885. Broadridge Corporate Issuer Solutions, LLC is acting as depositary and paying agent for the Equity Offer.

None of the Offeror, the Company, the Trustee, the Dealer Manager, the Tender and Information Agent, or any of their respective affiliates makes any recommendation as to whether Holders should tender or refrain from tendering their Notes in response to the Tender Offer or delivering Consents pursuant to the Consent Solicitation, and no person or entity has been authorized by any of them to make such a recommendation. Holders must make their own independent decision as to whether to tender Notes and deliver accompanying Consents and, if so, the principal amount of the Notes as to which action is to be taken.

Nothing contained herein shall constitute a notice of redemption of the Notes or an obligation to issue a notice of redemption or satisfy or discharge the Indenture.

About Saltchuk Resources, Inc.

Saltchuk is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5.5 billion and 8,800 employees. We make multi-generational investments, championing our companies’ individual brands while providing strategic leadership and resources through our Corporate Home. Our companies maintain independent operations guided by shared values: safety comes first, reliability defines our customer relationships, and integrity shapes how we conduct business. We’re committed to each other, to environmental stewardship, and to contributing to our communities, fostering places where anyone would be proud for their children to work. Headquartered in Seattle, additional information is available at www.saltchuk.com.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. GLDD employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 136-year history, GLDD 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 experience-based performance as they advance through GLDD operations. GLDD’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the GLDD’s culture. GLDD’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements

Forward-looking statements made herein with respect to the Tender Offer and Consent Solicitation and related transactions, including, for example, the timing of the completion of the Tender Offer and Consent Solicitation, Equity Offer and the Merger or the potential benefits of any such transactions, reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, the Company and the Offeror’s actual results may differ materially from its expectations or projections. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “project,” “contemplate,” “predict,” “potential,” “continue,” “may,” “would,” “could,” “should,” “seeks,” “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable language.

The following factors, among others, could cause actual plans and results to differ materially from those described in forward-looking statements. Such factors include, but are not limited to, the effect of the announcement of the Acquisition Transactions and the Tender Offer and Consent Solicitation on the Company and the Offeror’s relationships with employees, governmental entities and other business relationships, operating results and business generally; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, and the risk that the Merger Agreement may be terminated in circumstances that require the Company to pay a termination fee; the possibility that competing offers will be made; the outcome of any legal proceedings that may be instituted against the Company and the Offeror related to the transactions contemplated by the Merger Agreement, including the Acquisition Transactions; uncertainties as to the timing of the consummation of the Tender Offer and Consent Solicitation and the Acquisition Transactions; uncertainties as to the number of stockholders of the Company who may tender their stock in the Equity Offer and number of Holders who may tender their Notes and deliver accompanying Consents in the Tender Offer and Consent Solicitation; the failure to satisfy other conditions to consummate the Acquisition Transactions on the anticipated timeframe or at all; risks that the Tender Offer and Consent Solicitation and the Acquisition Transactions disrupt current plans and operations and the potential difficulties in employee retention as a result of the proposed transactions; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties; and those risks and uncertainties discussed from time to time in the reports or other public filings of the Company, the Offeror or the Acquisition Sub with the SEC.

Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025. GLDD’s SEC filings are available publicly on the SEC’s website at www.sec.gov, on GLDD’s website at gldd.com under “Investors—Financials & Filings—SEC filings” or upon request via email to [email protected]. All forward-looking statements contained in this communication are based on information available to the Company and the Offeror as of the date hereof and are made only as of the date of this communication. The Company and the Offeror disclaim any obligation or undertaking to update or revise the forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required under applicable law. These forward-looking statements should not be relied upon as representing the Company and the Offeror’s views as of any date subsequent to the date of this communication. Furthermore, any information about our intentions contained in any of our forward-looking statements reflects our intentions as of the date of such forward-looking statement, and is based upon, among other things, existing regulatory, industry, competitive, economic and market conditions, and our assumptions as of such date. We may change our intentions, strategies or plans (including our plans expressed herein) without notice at any time and for any reason. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of the Company and the Offeror.

Contact:

Eric Birge,
Vice President of Investor Relations of the Company,
313-220-3053

Release – Star Equity Holdings Reports 2025 Fourth Quarter and Full-Year Results

Posted on by [email protected]

Research News and Market Data on STRR

Mar 17, 2026

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2025 Was a Transformative Year due to Merger Completed in Q3

OLD GREENWICH, Conn., March 17, 2026 (GLOBE NEWSWIRE) — Star Equity Holdings, Inc. (Nasdaq: STRR and STRRP) (“Star” or the “Company”), a diversified holding company, announced today financial results for the fourth quarter and full year ended December 31, 2025.

2025 Fourth Quarter Summary

  • Revenue of $56.8 million increased 69% from the fourth quarter of 2024.
  • Gross profit of $24.2 million increased 38% from the fourth quarter of 2024.
  • Net loss attributable to common shareholders of $2.4 million, or $0.67 loss per diluted share, versus net loss attributable to common shareholders of $0.6 million, or $0.20 loss per diluted share, in the fourth quarter of 2024. Adjusted net loss attributable to common shareholders per diluted share (Non-GAAP measure)* was $0.10 compared to adjusted net income attributable to common shareholders per diluted share of $0.04 in the fourth quarter of 2024.
  • Adjusted EBITDA (Non-GAAP measure)* increased to $2.2 million, versus adjusted EBITDA of $0.9 million in the fourth quarter of 2024.

2025 Full-Year Summary

  • Revenue of $172.2 million increased 23% from 2024. Full year 2025 pro forma (“PF”)(1) revenue of $224.7 million increased 7% from 2024.
  • Gross profit of $79.9 million increased 14% from 2024. PF gross profit of $95.0 million increased 6% from 2024
  • Net loss attributable to common shareholders of $6.7 million, or 2.08 loss per diluted share, compared to net loss of $4.8 million, or $1.59 loss per diluted share, in 2024. Adjusted net loss attributable to common shareholders per diluted share (Non-GAAP measure)* of $0.20 increased from adjusted net loss attributable to common shareholders per diluted share of $0.49 in the prior year.
  • Adjusted EBITDA (Non-GAAP measure)* was $4.2 million, versus adjusted EBITDA of $0.9 million in 2024. PF adjusted EBITDA of $12.6 million increased from $4.4 million in 2024.
  • Total cash including restricted cash was $13.4 million at December 31, 2025.

Jeff Eberwein, Chief Executive Officer at Star, said, “Our fourth quarter and full-year financial results reflect positive momentum and improvement over the prior year quarter, largely attributable to the addition of the Building Solutions and Energy Services divisions which occurred with the merger that closed in August 2025.”

Jake Zabkowicz, Global CEO of Hudson Talent Solutions (“HTS”), noted, “HTS delivered a 4.8% revenue increase in the fourth quarter Full-year revenues remained relatively flat compared to 2024 despite macroeconomic challenges and significant ongoing pressure in the talent market. In 2025, we expanded our service offering with the implementation of agentic AI, positioning us at the forefront of the talent industry’s digital transformation.”

Rick Coleman, COO of Star, added, “Residential and commercial building demand were relatively soft throughout the year, but our Building Solutions segment delivered strong results, including significantly higher sales and profitability. Energy Services division performance was also strong as ADT expanded market share across all core markets with particularly robust growth in mining and geothermal. These results highlight the team’s ability to combine strong execution with innovation across a broad range of end markets and applications.”

Mr. Eberwein concluded, “2025 was a transformational year for Star. The merger that closed in August strengthened our operating and financial position, accelerated our growth strategy, and reinforced our conviction that our stock remains undervalued. To that end, we repurchased more than $2.6 million of stock during 2025 and expect to continue utilizing buybacks to enhance shareholder value.”

* The Company provides non-GAAP measures as a supplement to financial results based on accounting principles generally accepted in the United States (“GAAP”). Adjusted EBITDA, EBITDA, adjusted net income or loss, and adjusted net income or loss per diluted share are defined in the segment tables at the end of this release and a reconciliation of such non-GAAP measures to the most directly comparable GAAP measures is included within such segment tables.

Segment Highlights

Building Solutions

Fourth quarter 2025 Building Solutions revenue was $18.0 million and gross profit was $4.6 million. Fourth quarter Adjusted EBITDA was $1.9 million.

Full year 2025 Building Solutions revenue was $27.6 million and gross profit was $6.3 million. Full year 2025 Adjusted EBITDA was $2.5 million.

Full year 2025 PF Building Solutions revenue was $71.9 million, up from $60.1 million in 2024, and full year 2025 PF gross profit was $18.0 million versus $14.0 million in the prior year. Full year 2025. PF adjusted EBITDA was $7.2 million, up from adjusted EBITDA of $5.3 million a year ago.

Building Solutions backlog as of December 31, 2025 was $9.6 million, and the trailing 12-month book-to-bill ratio was 0.89.

Business Services

Fourth quarter 2025 Business Services revenue was $35.2 million, up from $33.6 million in the prior year quarter, while gross profit was $18.1 million, up from $17.6 million in the prior year quarter. Business Services adjusted EBITDA was $0.9 million, down from $1.5 million in the prior year quarter.

Full year 2025 Business Services revenue was $139.7 million, down from $140.1 million in the prior year, while gross profit was $71.8 million, up from $70.2 million in the prior year. Full year 2025 Business Services adjusted EBITDA was $5.0 million, up from $4.3 million in the prior year.

Regionally, APAC and Americas gross profit for full year 2025 grew 11.7% and 4.4%, respectively. This growth was offset by EMEA, where gross profit declined by (18.7)%.

Energy Services

Fourth quarter 2025 Energy Services revenue was $3.6 million. Fourth quarter 2025 gross profit was $1.6 million, and adjusted EBITDA was $0.9 million.

Full year 2025 Energy Services revenue was $4.9 million. Full year 2025 gross profit was $1.9 million and adjusted EBITDA was $1.0 million.

PF Energy Services revenue for full year 2025 was $13.2 million, up from $10.1 million in 2024, while PF gross profit was $5.5 million, down from $5.7 million in 2024. Full year 2025 PF adjusted EBITDA was $2.9 million, up from $2.1 million in 2024.

(1) PF Building Solutions, Energy Services, and Investments results from Star Operating Companies, Inc. for the full year of 2025 and 2024. PF Building Solutions reflects results from Timber Technologies for the full year in 2024. Timber Technologies was acquired by Star Operating Companies on May 17, 2024. PF Energy Services in 2025 and 2024 reflects Alliance Drilling Tools results, which was acquired by Star Operating Companies on March 3, 2025.

Corporate Costs

The Company’s corporate costs of $1.9 million for the fourth quarter of 2025 excluded $0.3 million of non-recurring expenses. This compares to corporate costs of $0.6 million in the fourth quarter of 2024, which excluded $0.0 million of non-recurring expenses.

The Company’s corporate costs of $4.9 million for full year 2025 excluded $2.5 million of non-recurring expenses. This compares to corporate costs of $3.4 million for full year 2024, which excluded $0.9 million of non-recurring expenses.

Liquidity and Capital Resources

The Company ended the fourth quarter of 2025 with $13.4 million in cash, including $3.1 million in restricted cash. The Company used $3.9 million in cash flow from operations in the fourth quarter of 2025 compared to $2.0 million generated in the fourth quarter of 2024. For full year 2025, the company used $7.3 million in cash flow from operations compared to $2.8 million in cash flow from operations in 2024. Year-end 2025 working capital excluding cash was $22.4 million, representing a temporary build-up that is expected to decline in the first quarter of 2026.

Share Repurchase Program

In the fourth quarter of 2025, the Company repurchased 5,964 shares for approximately $66,000. For the full year 2025, the Company repurchased 280,886 shares for approximately $2.6 million and has repurchased about $10 million of common stock since 2020. As of year-end 2025, the Company has $2.5 million remaining under its $3 million repurchase program authorized in September 2025 and continues to view share repurchases as an attractive use of capital.

NOL Carryforward

As of December 31, 2025, Star had $215 million of usable net operating losses (“NOL”) in the U.S., which the Company considers to be a very valuable asset for its stockholders. In order to protect the value of the NOL for all stockholders, the Company has a rights agreement and charter amendment in place that limit beneficial ownership of Star Equity common stock to 4.99%. Stockholders who wish to own more than 4.99% of Star Equity common stock, or who already own more than 4.99% of Star Equity common stock and wish to buy more, may only acquire additional shares with the Board’s prior written approval.

Preferred Stock Dividends

In Q4 2025, the Company’s board of directors (the “Board”) declared a quarterly cash dividend to holders of the Company’s 10% Series A Cumulative Perpetual Preferred Stock of $0.25 per share, paid on December 10, 2025 to the shareholders of record as of December 1, 2025.

In addition, on February 13, 2026, the Board declared a cash dividend to holders of the Company’s 10% Series A Cumulative Perpetual Preferred Stock of $0.25 per share. The record date for this dividend was March 1, 2026, and the payment date was March 10, 2026.

Conference Call/Webcast

The Company will conduct a conference call tomorrow, March 18, 2026, at 10:00 a.m. ET to discuss this announcement. Individuals wishing to listen can access the webcast on the investor information section of the Company’s web site at www.starequity.com.

If you wish to join the conference call, please use the dial-in information below:

  • Toll-Free Dial-In Number: 1 (833) 890-6161
  • International Dial-In Number: 1 (412) 504-9848

The archived call will be available on the investor information section of the Company’s web site at www.starequity.com.

About Star Equity Holdings, Inc.

Star Equity Holdings, Inc. is a diversified holding company that seeks to build long-term shareholder value by acquiring, managing, and growing businesses with strong fundamentals and market opportunities. Its current structure comprises four segments: Building Solutions, Business Services, Energy Services, and Investments. For more information visit www.starequity.com.

On August 22, 2025, the Company completed its previously announced acquisition of Star Operating Companies, Inc. (“Star Operating”, formerly known as Star Equity Holdings, Inc.), pursuant to the Agreement and Plan of Merger, dated as of May 21, 2025 (the “Merger Agreement”), by and among the Company, Star Operating and HSON Merger Sub, Inc., a wholly owned subsidiary of the Company (“Merger Sub”). Upon the terms and subject to the conditions of the Merger Agreement, on August 22, 2025, at the effective time of the merger pursuant to the Merger Agreement (the “Merger”), Merger Sub merged with and into Star Operating, with Star Operating continuing as the surviving corporation of the Merger as a wholly owned subsidiary of the Company. Effective September 5, 2025, the Company changed (i) its name to Star Equity Holdings, Inc. and (ii) its trading symbols on Nasdaq to STRR and STRRP.

Building Solutions
The Building Solutions division operates in three niches: (i) modular building manufacturing; (ii) structural wall panel and wood foundation manufacturing, including building supply distribution operations; and (iii) glue-laminated timber (glulam) column, beam, and truss manufacturing.

Business Services
The Business Services division provides flexible and scalable recruitment solutions to a global clientele, servicing organizations at all levels, from entry-level positions to the C-suite. The division focuses on mid-market and enterprise organizations worldwide, partnering consultatively with talent acquisition, HR, and procurement leaders to build diverse, high-impact teams and drive business success.

Energy Services
The Energy Services division engages in the rental, sale, and repair of downhole tools used in the oil and gas, geothermal, mining, and water-well industries.

Investments
The Investments division manages and finances the Company’s real estate assets as well as its investment positions in private and public companies.

Investor Relations:
The Equity Group
Lena Cati
(212) 836-9611
[email protected]

Forward-Looking Statements

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company’s future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe,” and similar words, expressions, and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties, and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties, and assumptions include, but are not limited to, (1) global economic fluctuations, (2) changes in the cost and availability of commodities, materials, and equipment, (3) risks related to providing uninterrupted service to clients, (4) the ability of clients to terminate their relationship with the Company at any time, (5) risks associated with real estate ownership, (6) the Company’s ability to successfully achieve its strategic initiatives, (7) risks related to fluctuations in the Company’s operating results from quarter to quarter, (8) risks related to potential acquisitions or dispositions of businesses by the Company, (9) our profitability and growth being tied to the success of our operating businesses, (10) risks associated with our financial investments in other businesses, (11) our ability to improve existing products and services and develop, introduce, and market new products and services successfully, (12) the loss of or material reduction in our business with any of the Company’s largest customers, (13) competition in the Company’s markets, (14) risks related to potential decreases in demand for products, (15) our ability to maintain costs at an acceptable level, (16) the negative cash flows and operating losses that may recur in the future, (17) risks related to international operations, including foreign currency fluctuations, political events, trade wars, natural disasters or health crises, including the Russia-Ukraine war, and potential conflict in the Middle East, (18) risks relating to how future credit facilities may affect or restrict our operating flexibility, (19) our ability to generate or borrow sufficient cash to make payments on our indebtedness, (20) risks related to indebtedness, (21) risks associated with the Company’s investment strategy, (22) the Company’s dependence on key management personnel, (23) the Company’s ability to attract and retain highly skilled professionals, management, and advisors, (24) the Company’s ability to collect accounts receivable, (25) the Company’s exposure to legal proceedings, investigations and disputes, and limits on related insurance coverage, (26) the Company’s ability to utilize net operating loss carryforwards, (27) the potential for goodwill impairment, (28) volatility of the Company’s stock price, (29) risks related to our historically low trading volume, (30) risks related to securities or industry analysts, (31) the Company’s ability to declare dividends, (32) risks associated with failure to pay dividends on our Series A Preferred Stock, (33) our history of annual net losses, (34) risks related to our international operations, (35) risks related to compliance with federal and state laws, regulations, and other rules, (36) our exposure to employment-related claims, legal liability, and costs from clients, employees, and regulatory authorities, (37) risks related to the imposition of licensing or tax requirements or new regulations, (38) the effect of Anti-takeover provisions in our organizational documents, (39) the effect of the protective amendment contained in our Restated Certificate of Incorporation, (40) the impact of our stockholder rights plan, or “poison pill,” on stockholder decision making, (41) risks related to our scaled disclosure requirements as a smaller reporting company, (42) risks related to evolving ESG and DEI rules and regulations, (43) the Company’s heavy reliance on information systems and the impact of potentially losing or failing to develop technology, (44) the adverse impacts of cybersecurity threats and attacks, and (45) risks related to the use of new and evolving technologies, and (46) those risks set forth in “Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.” The foregoing list should not be construed to be exhaustive. Actual results could differ materially from the forward-looking statements contained in this press release. In view of these uncertainties, you should not place undue reliance on any forward-looking statements, which are based on our current expectations. These forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Seanergy Maritime (SHIP) – Fleet Expansion Continues; Squireship Sale

Posted on by [email protected]


Friday, March 13, 2026

Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company listed in the U.S. capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 18 vessels (1 Newcastlemax and 17 Capesize) with an average age of approximately 13.4 years and an aggregate cargo carrying capacity of approximately 3,236,212 dwt. Upon completion of the delivery of the previously announced Capesize vessel acquisition, the Company’s operating fleet will consist of 19 vessels (1 Newcastlemax and 18 Capesize) with an aggregate cargo carrying capacity of approximately 3,417,608 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.

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

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

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

Newbuild program expands to five vessels. Seanergy announced the acquisition of two Japanese newbuild scrubber-fitted 181,500 dwt Capesize vessels, expanding the total newbuild program to five vessels, including four Capesize vessels and one Newcastlemax, with a combined contract value of approximately $384 million. The first Japanese vessel is a direct purchase with delivery expected between Q2 and Q3 2027, while the second is structured as a 10-year bareboat-in contract with a Q1 2029 delivery and a purchase option beginning at year five. The combined cost of both Japanese vessels is approximately $158 million.

Sale of M/V Squireship. Seanergyagreed to sell the 2010-built, 170,018 dwt M/V Squireship  to a related party for $29.5 million with delivery expected between late April and early June 2026. The transaction is expected to generate net proceeds of approximately $13.5 million after debt repayment and produce an accounting gain of roughly $4 million. The sale is consistent with management’s capital recycling strategy, monetizing an older vessel at an attractive valuation while funding the newbuilding program and reducing average fleet age.


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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. 

Release – CoreCivic Announces Reopening Of Midwest Regional Reception Center

Posted on by [email protected]

Research News and Market Data on CXW

March 11, 2026

PDF Version

BRENTWOOD, Tenn., March 11, 2026 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) announced today that it has received approval for a Special Use Permit (SUP) at the Company’s 1,033-bed Midwest Regional Reception Center in Leavenworth, Kansas. The facility has been undergoing reactivation since a new contract was awarded in the third quarter of 2025 but experienced a temporary delay in the intake process as we worked through legal challenges and the SUP approval process.

Now that the SUP has been approved, we expect to begin accepting detainees at the Midwest Regional Reception Center in the coming weeks. In preparation for reactivation last year, we initiated hiring efforts and attracted a strong candidate pool. We subsequently paused hiring in December 2025 while the SUP application was under review, reflecting a disciplined approach to aligning staffing with regulatory timing and operational readiness. Taking into account start-up activities and the phased commencement of intake operations, we currently expect this facility to contribute approximately $0.05 to $0.06 in incremental earnings per share for the remainder of 2026.

Patrick D. Swindle, CoreCivic’s President and Chief Executive Officer, commented, “I would like to thank the Leavenworth City Commission for their collaboration and trust. We value our longstanding relationship with the Leavenworth community and are pleased with the outcome of the SUP application process. This approval allows us to move ahead with reactivation of the Midwest Regional Reception Center as we continue to deliver safe, effective solutions for our government partners.”

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 serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, 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.

Cautionary Note Regarding Forward-Looking Statements

This press release includes statements as to our beliefs and expectations of the outcome of future events that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements may include such words as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Such forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Important factors that could cause actual results to differ are described in the filings made from time to time by CoreCivic with the Securities and Exchange Commission (“SEC”) and include the risk factors described in CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 20, 2026. Except as required by applicable law, CoreCivic undertakes no obligation to update forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

Contact:Investors: Jeb Bachmann – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

NN (NNBR) – Toward a Brighter Future

Posted on by [email protected]


Wednesday, March 11, 2026

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.

Momentum. NN is bringing solid momentum into 2026. A number of end markets are showing improvement, including the commercial vehicle market, where orders continue to show year-over-year strength. Management noted on the call that the electric grid, data center, defense, and electronics sectors are all growing in the first quarter and are expected to grow in the full year 2026.

Improved Margins. As the business mix moves up the value chain, NN is experiencing higher margins. Adjusted gross margin performance was 18.8% in the fourth quarter and 18.5% for the full year, which again has NN trending towards management’s five year goal of 20% consolidated gross margins.


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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. 

Release -FreightCar America, Inc. Reports Fourth Quarter and Full Year 2025 Results

Posted on by [email protected]

Research News and Market Data on RAIL

03/09/2026

Strong full year gross profit growth and over 260 basis points of gross margin expansion despite challenging industry environment

Operating cash flow of $35 million and Adjusted Free Cash Flow of $31 million, up 45% year over year

Projecting growth in 2026

CHICAGO, March 09, 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 reported results for the fourth quarter and fiscal year ended December 31, 2025.

Fourth Quarter 2025 Highlights

  • Revenues of $125.6 million, compared to $137.7 million in the fourth quarter of 2024, with railcar deliveries of 1,172 units compared to 1,019 units in the prior year period
  • Gross margin of 13.4% with gross profit of $16.8 million, compared to gross margin of 15.3% with gross profit of $21.0 million in the fourth quarter of 2024
  • Recorded $19.9 million of non-cash adjustments related to share price appreciation accounting, partially offset by a $2.1 million non-cash acquisition-related gain, resulting in a net loss of $16.6 million, or $0.52 per share, and adjusted net income of $4.9 million, or $0.16 per share
  • Adjusted EBITDA was $10.4 million, representing a margin of 8.3%, compared to $13.9 million and a margin of 10.1% in the fourth quarter of 2024
  • Ended the quarter with a backlog of 1,926 units valued at $137.5 million, reflecting a diversified mix of railcar conversion programs and new railcar builds
  • Completed the acquisition of Carly Railcar Components, LLC, a leading distributor of railcar components, to strengthen aftermarket footprint

Fiscal Year 2025 Highlights

  • Revenues of $501.0 million, compared to $559.4 in fiscal year 2024, with railcar deliveries of 4,125 units compared to 4,362 units in the prior year
  • Gross margin of 14.6% with gross profit of $73.2 million, compared to gross margin of 12.0% with gross profit of $67.0 million in fiscal year 2024
  • Net income of $38.1 million, or $1.09 per share, and Adjusted net income of $18.1 million, or $0.50 per share, after adjusting primarily for non-cash items including a $51.9 million release of valuation allowance on deferred taxes, offset by a $32.2 million non-cash adjustment warrant liability due to share price appreciation
  • Adjusted EBITDA of $44.8 million, representing a margin of 8.9%, compared to Adjusted EBITDA of $43.0 million and a margin of 7.7% in fiscal year 2024
  • Delivered operating cash flow of $34.8 million and $31.4 million in adjusted free cash flow, up 44.8% year-over-year, and optimized balance sheet through lower cost refinancing

“In 2025, FreightCar America executed with discipline amid a challenging industry environment, delivering revenue in line with our expectations while producing exceptional profitability,” said Nick Randall, President and Chief Executive Officer of FreightCar America. “During the year, we capitalized on demand by leveraging our customer-centric approach of tailored solutions, including conversions and customized offerings, while also growing market share in new car deliveries. This execution, combined with our manufacturing flexibility and ongoing implementation of operational initiatives such as our TruTrack program, contributed to improved Adjusted EBITDA margins and strong free cash flow generation, further strengthening our financial position.”

Randall continued, “As we enter 2026, we remain focused on converting backlog into profitable deliveries while continuing to invest for growth. We are deploying capital effectively to diversify our revenue base, expand our aftermarket business and presence in the tank car market to further strengthen our offerings and capture demand, while continuing to evaluate strategic opportunities that fuel future growth. Overall, with a strong commercial strategy, a lean and flexible operating model, and an efficient manufacturing footprint, we are well positioned to perform in the current environment and to accelerate as industry fundamentals improve.

Fiscal Year 2026 Outlook

The Company has issued outlook for fiscal year 2026 as follows:

Mike Riordan, Chief Financial Officer of FreightCar America, added, “2025 demonstrated the durability of our operating model. We made continued progress strengthening the quality and consistency of our cash flows while maintaining a disciplined approach to capital allocation. During the year, we also advanced our aftermarket strategy, including the addition of Carly Railcar Components, which enhances this growing part of our business and supports more stable, recurring revenue across market cycles. Looking ahead to 2026, our guidance reflects ongoing industry uncertainty while reinforcing our confidence in the underlying strength and resilience of the business.”

Fourth Quarter and Full Year 2025 Conference Call & Webcast Information

The Company will host a conference call and live webcast on Tuesday, March 10, at 11:00 a.m. (Eastern Time) to discuss its fourth quarter and full year 2025 financial results. FreightCar America invites shareholders and other interested parties to listen to its financial results conference call. Teleconference details are as follows:

An audio replay of the conference call will be available beginning at 3:00 p.m. An audio replay of the conference call will be available beginning at 3:00 p.m. (Eastern Time) on Tuesday, March 10, 2026, until 11:59 p.m. (Eastern Time) on Monday, March 24, 2026. To access the replay, please dial (844) 512-2921 or (412) 317-6671. The replay passcode is 13758379. An archived version of the webcast will also be available on the FreightCar America Investor Relations 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.

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 risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse geopolitical, 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; the risk of lack of acceptance of our new railcar offerings; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers (including recent United States tariffs imposed or threatened to be imposed on China, Canada, Mexico and other countries and any retaliatory actions taken by such countries); the scope and duration of the government shutdown; and other competitive factors. The factors listed above are not exhaustive. New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them. 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.

Non-GAAP Financial Measures

This press release includes measures not derived in accordance with generally accepted accounting principles (“GAAP”), such as EBITDA, Adjusted EBITDA, Adjusted net income (loss), Adjusted EPS, Free cash flow and Adjusted free cash flow. These non-GAAP measures should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP and may also be inconsistent with similar measures presented by other companies. Reconciliations of these measures to the applicable most closely comparable GAAP measures, and reasons for the Company’s use of these measures, are presented in the attached pages.

Investor Contact:[email protected]

View full release here.

Source: FreightCar America, Inc.

Release – The GEO Group Announces Senior Management Changes

Posted on by [email protected]

Research News and Market Data on GEO

March 5, 2026

PDF Version

BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 5, 2026– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that GEO’s Chief Financial Officer, Mark Suchinski, has notified the Company of his decision to relocate out-of-state and leave his position effective March 31, 2026 to accept a position in another industry. Shayn March, GEO’s Executive Vice President, Finance and Treasurer, who has been with the Company for 17 years, has been appointed GEO’s Chief Financial Officer, effective April 1, 2026.

George C. Zoley, GEO’s Chairman, Chief Executive Officer, and Founder, said, “We welcome Shayn March to our Senior Management Team. His 17 years of GEO service in senior business management roles uniquely position him to serve as GEO’s Chief Financial Officer. I look forward to working with Shayn and the rest of our Senior Management Team as we pursue what we expect will be significant opportunities to grow our Company and enhance value for our shareholders.”

About The GEO Group

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 95 facilities totaling approximately 75,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

Pablo E. Paez, (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Release – AZZ Inc. Announces Corporate Governance and Other Board Succession Changes

Posted on by [email protected]
AZZ Inc is the leading independent provider of hot-dip galvanizing and coil coating solutions in North America. (PRNewsfoto/AZZ, INC.)

Research News and Market Data on AZZ

Mar 05, 2026, 06:30 ET

FORT WORTH, Texas, March 5, 2026 /PRNewswire/ — AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced the appointment of Aaron Schapper, age 52, and Charles “Chuck” Treadway, age 60, to serve as new members of AZZ’s Board of Directors, effective April 8, 2026 which is AZZ’s first Board meeting of fiscal year 2027.

Mr. Schapper currently serves as President, Chief Executive Officer and a member of the Board of Directors of Myers Industries Inc., a manufacturer of sustainable plastic and metal products that protect the world from the ground up for consumer, vehicle, food & beverage, industrial, infrastructure, and automotive end markets. Prior to joining Myers Industries, Mr. Schapper served in various executive level leadership roles with Valmont Industries, Inc., including Group President, Agriculture and Chief Strategy Officer; Group President of Infrastructure; Group President of Utility Support Structures; Vice President and General Manager, International Irrigation and Global Engineering. Prior to joining Valmont Industries, Mr. Schapper served as General Manager, Asia for Orbit Irrigation Products LLC. Mr. Schapper holds a B.S. in Mechanical Engineering and a B.A. in Mandarin Chinese from the University of Utah. He also holds an Executive M.B.A. from Northwestern University’s Kellogg School of Management at Hong Kong University of Science and Technology.

Mr. Treadway currently serves as President, Chief Executive Officer and a member of the Board of Directors of Vistance Networks, Inc., formerly known as CommScope Holding Company, Inc., a global provider of intelligent network solutions for access networks and purpose-driven enterprise networks. Prior to joining Vistance, Mr. Treadway served as Chief Executive Officer of Accudyne Industries. Prior to Accudyne Industries, Mr. Treadway held a number of executive level leadership positions with Thomas & Betts Corporation, including President and Chief Executive Officer, President and Chief Operating Officer, and Group President of Electrical. Mr. Treadway has also served in various senior leadership roles with ABB, Schneider Electric S.A., Prettl International and Yale Security. Mr. Treadway holds a B.S. in Electrical Engineering from the University of Louisiana, a M.S. in Electrical Engineering from Clemson University and an M.B.A. from Harvard University.

Additionally, on February 28, 2026, Mr. Dan Feehan announced his retirement from his position as Chairman of AZZ’s Board of Directors and was succeeded by Mr. Dan Berce. Mr. Feehan will continue to serve as a Board member of AZZ and as a member of the Compensation Committee and Nominating and Corporate Governance Committee until the expiration of his current term in July 2026.

With the appointments of Messrs. Schapper and Treadway, and Mr. Feehan announcing his retirement at the end of his term in July 2026, the Company’s Board will be comprised of eight members, with seven being independent, and four being added to the Board within the last five years.

Mr. Berce commented, “Dan has served the shareholders of AZZ with honor and distinction throughout his 26-year tenure on the Board, including seven years as Chairman. We thank him for his exemplary Board leadership and dedicated service to the Company and its shareholders.” 

Mr. Berce further noted, “We are pleased Aaron and Chuck have agreed to join AZZ’s Board of Directors, both candidates bring significant experience and diverse backgrounds that will add additional depth and diversity to the Board’s broad scope of professional expertise, including strategic revenue growth, M&A and ESG. Their appointments represent another meaningful step in our ongoing board refreshment initiatives. These two appointments were the result of a comprehensive search conducted by the Board, with the assistance of a leading independent search firm, as part of the Board’s commitment to regular and smooth board succession planning.”

About AZZ Inc.

AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “could,” “should,” “expects,” “plans,” “will,” “might,” “would,” “projects,” “currently,” “intends,” “outlook,” “forecasts,” “targets,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in production costs,, due to inflation, in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process and the paint used in our coil coating process; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ’s growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as more inflation or changes in the political stability in the United States and other foreign markets in which we operate; tariffs, acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025, and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:    
David Nark, Chief Marketing, Communications, and Investor Relations Officer
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Sandy Martin, Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com

SOURCE AZZ, Inc.

NN (NNBR) – First Look: 4Q25 and Full Year 2025 Results

Posted on by [email protected]


Thursday, March 05, 2026

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.

Overview. For the full year 2025, NN delivered a third consecutive year of improved financial performance, although 4Q25 results were modestly below our expectations. Importantly, NN completed the most capital-intensive portion of its transformation plan that included plant closures, significant headcount realignment, and exiting dilutive business. As a result, NN enters 2026 as a healthier, leaner, and more focused company, performing on multiple fronts, which should result in the next chapter of net sales growth.

4Q25 Results. Sales in 4Q25 were $104.7 million, down 1.7% y-o-y, primarily due to rationalization of underperforming business and plants and lower volumes. Adjusted EBITDA for the fourth quarter of 2025 was $12.9 million, or 12.3% of sales, compared to $12.1 million, or 11.3% of sales, for the same period of 2024. Adjusted net loss for the fourth quarter of 2025 was $0.1 million, or $0.00 per diluted share, compared to adjusted net loss of $0.9 million, or $0.02 per share, in 4Q24. We had estimated $107.5 million, $14.5 million, and $0.04, respectively.


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Release – NN, Inc. Reports Fourth Quarter and Full Year 2025 Results

Posted on by [email protected]

Research News and Market Data on NNBR

PDF Version

NN delivers third consecutive year of successful transformation; completes majority of heavy spending

NN forecasts fourth year of improvement, and a return to organic net sales growth in 2026

CHARLOTTE, N.C., March 04, 2026 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today reported its financial results for the fourth quarter and full-year ended December 31, 2025. Key results include:

Financial Highlights

  • Q4 2025 net sales of $104.7 million and full-year 2025 net sales $422.2 million
  • Q4 2025 gross margin of 9.2% and full-year 2025 gross margin of 14.1%
  • Q4 2025 adjusted gross margin of approximately 18.8%, up 120 bps and approaching the Company’s five-year target of 20%
  • Q4 2025 operating loss of $10.4 million, and full-year 2025 operating loss of $18.9 million, improving 38.3% and 31.3%, respectively
  • Q4 2025 adjusted operating income of $3.3 million and full-year 2025 adjusted operating income of $14.2 million, improving 34.2% and 180.0%, respectively
  • Q4 2025 GAAP net loss of $11.3 million or $0.35 per share and full year 2025 GAAP net loss of $24.4 million, or $1.07 per share
  • Q4 2025 adjusted earnings per share of $0.00 and adjusted loss per share of $0.03 for the full-year 2025
  • Q4 2025 adjusted EBITDA of $12.9 million (12.3% of net sales) and full year 2025 adjusted EBITDA of $49.0 million (11.6% of net sales), respectively

Commercial & Strategic Highlights

  • Third consecutive year of achieving or beating target rate of new business wins, with approximately $70 million secured in 2025, exceeding guidance range, and bringing the three-year cumulative total to more than $200 million
    • New wins are accretive to consolidated margin profile
    • NN is achieving a >20% hit rate on new business opportunities
  • NN has won more than 170 new sales program awards which have launched during 2025 or will launch in 2026
  • NN secured its first new business win in the data center market with expanded commercial plans in the data center and electrical/power infrastructure ecosystem
  • Sales pipeline of more than $800 million across more than 800 programs, concentrated in targeted areas.
    • During 2025, NN significantly upsized the business development team for electrical products
  • NN formed a Strategic Committee of the Board of Directors in December 2025 to evaluate a range of strategic and financing alternatives to enhance shareholder value.

“NN delivered a third consecutive year of improved financial performance in 2025, and we look ahead to 2026 with increased confidence in our trajectory for sales, margins, and adjusted EBITDA,” said Harold Bevis, Chief Executive Officer of NN, Inc. “In 2025 we drove adjusted EBITDA towards recent highs despite softness in automotive and commercial vehicle markets and record high precious metal prices. Importantly, we completed the most capital-intensive portion of our transformation plan that included plant closures, significant headcount realignment, and exiting dilutive business. As a result, NN enters 2026 as a healthier, leaner, and more focused company, performing on multiple fronts, while beginning our next chapter of net sales growth.”

Bevis continued, “We expect 2026 to be a meaningful inflection point, and we are guiding to a fourth consecutive year of improved adjusted EBITDA which we expect to range between $50 million to $60 million. Our forecasted sales growth is already underway in the first quarter of 2026, and we plan to launch approximately 100 new programs in 2026. These new programs carry accretive margins that will strengthen our EBITDA and cash flow profile as they ramp. Critically, the success of our new wins program, our planned launches, and more stable markets will return NN’s annual net sales growth. We expect real commercial momentum, and we are also increasing our goals for new business wins for the year to a range of $70 million to $80 million.”

Bevis concluded, “The progress we have made and the momentum we are carrying into 2026 and beyond gives us increasing confidence in NN’s forward net sales trajectory. Our business mix continues to shift toward higher-growth, higher-margin markets including data center power, electrical grid infrastructure, defense, and medical, and we recently secured our first direct data center win. We believe the combination of our operational transformation and accelerating sales growth positions NN to deliver meaningful and sustained value creation for shareholders both in 2026 and in the years ahead.”

Fourth Quarter Results

Net sales were $104.7 million, a decrease of 1.7% compared to the fourth quarter of 2024 net sales of $106.5 million, which was primarily due to rationalization of underperforming business and plants and lower volumes partially offset by favorable foreign exchange impact of $2.1 million.

Loss from operations for the fourth quarter was $10.4 million compared to a loss from operations of $16.9 million for the same period of 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Net loss for the fourth quarter was $12.5 million compared to net loss of $21.0 million for the same period in 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Full-Year Results

Net sales for the year ended December 31, 2025, were $422.2 million compared to $464.3 million for the same period of 2024, a decrease of $42.1 million, or 9.1%. This was primarily due to the rationalization of underperforming business and plants, the sale of our Lubbock operations, lower volumes, and unfavorable foreign exchange effects of $0.6 million. These decreases were partially offset by the contribution of new business launches and higher precious metals pass-through pricing. Power Solutions sales were up while Mobile Solutions sales were down primarily due to a decline in low-margin auto parts business.

Loss from operations for the year ended December 31, 2025, was $18.9 million compared to a loss from operations of $27.5 million for the same period of 2024. The year-over-year improvement was due to rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, decrease in depreciation due to the impact of historical purchase accounting step-up basis being fully depreciated in the second half of 2024, and lower compensation expense due to decreased headcount. The improvement is partially offset by lower volumes.

Net loss for the year ended December 31, 2025, was $34.0 million compared to net loss of $38.3 million for the same period of 2024. The year-over-year improvement was primarily due to our improvement in loss from operations. The improvement is partially offset by loss on extinguishment of debt in 2025.

Fourth Quarter Adjusted Results

Adjusted EBITDA for the fourth quarter of 2025 was $12.9 million, or 12.3% of sales, compared to $12.1 million, or 11.3% of sales, for the same period of 2024. Adjusted income from operations for the fourth quarter of 2025 was $3.3 million compared to adjusted income from operations of $2.4 million for the same period of 2024.

Adjusted net loss for the fourth quarter of 2025 was $0.1 million, or $0.00 per diluted share, compared to adjusted net loss of $0.9 million, or $0.02 per diluted share, for the same period of 2024.

Power Solutions

Net sales for the fourth quarter of 2025 were $45.5 million compared to $39.2 million in the same period in 2024, an increase of 16.1%. The increase was primarily due to steady volumes, higher precious metals pass-through pricing and favorable foreign exchange effects.

Loss from operations for the fourth quarter was $3.9 million compared to income from operations of $1.3 million for the same period of 2024.

Adjusted income from operations for the fourth quarter was $4.9 million compared to adjusted income from operations of $4.6 million for the same period of 2024. The increase in adjusted income from operations was primarily due to lower administrative costs.

Net sales for the year ended December 31, 2025, were $178.6 million compared to $180.5 million for the same period of 2024, a decrease of $1.9 million, or 1.1%. This was primarily due to the sale of our Lubbock operations, lower volumes and unfavorable foreign exchange effects of $0.8 million. These decreases were partially offset by higher precious metals pass-through pricing.

Income from operations for the year ended December 31, 2025 was $10.3 million compared to income from operations of $13.1 million for the same period of 2024, a decrease of $2.8 million. This was primarily due to the sale of our Lubbock operations and lower volumes. The decrease is partially offset by lower administrative costs and lower depreciation and amortization expense due to sold or fully utilized assets.

Adjusted income from operations for the year ended December 31, 2025 was $26.9 million compared to adjusted income from operations of $24.7 million for the same period in 2024.

Mobile Solutions

Net sales for the fourth quarter of 2025 were $59.3 million compared to $67.4 million in the fourth quarter of 2024, a decrease of 12.0%. The decrease was primarily driven by rationalization of underperforming business and plants and lower volumes and partially offset by favorable foreign exchange impact.

Loss from operations for the fourth quarter was $1.4 million compared to loss from operations of $12.9 million for the same period of 2024. The improvement was primarily driven by rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, and lower compensation expense due to decreased headcount.

Adjusted income from operations for the fourth quarter was $3.1 million compared to adjusted income from operations of $2.5 million for the same period of 2024. The increase in adjusted income from operations was primarily due to the rationalization of underperforming business and plants.

Net sales for the year ended December 31, 2025, were $244.0 million compared to $283.9 million for the same period of 2024, a decrease of $39.9 million, or 14.1%. This was primarily due to rationalization of underperforming business and plants, lower volume in North America, and partially offset by favorable foreign exchange effects.

Loss from operations for the year ended December 31, 2025, was $8.0 million compared to loss from operations of $18.1 million for the same period of 2024. The improvement was primarily driven by rationalization of underperforming business and plants, impairment of machinery and equipment recorded in 2024 at a plant that closed in 2025, lower depreciation expense due to the impact of historical purchase accounting step-up becoming fully depreciated in the second half of 2024, and lower compensation expense due to decreased headcount.

Adjusted income from operations for the year ended December 31, 2025, was $7.3 million compared to adjusted income from operations of $1.5 million for the same period of 2024. The increase was primarily due to rationalization of underperforming business and plants and lower depreciation expense due to the impact of historical purchase accounting step-up becoming fully depreciated in the second half of 2024.

2026 Outlook

  • Revenues are expected to range between $445 to $465 million with modest organic growth coupled with new business launches, values may vary based on metals cost
  • Adjusted EBITDA expected to range between $50 and $60 million with modest operating leverage
  • New business wins are expected to increase to $70 to $80 million

Chris Bohnert, Senior Vice President and Chief Financial Officer commented, “For fiscal 2026, we are guiding net sales in the range of $445 million to $465 million and adjusted EBITDA in the range of $50 million to $60 million, reflecting a return to year-over-year net sales growth, and a notable expansion versus prior year. Importantly, this top-line growth will flow through a cost structure that has been fundamentally improved over the course of our transformation. The resulting operating performance is expected to drive adjusted EBITDA growth and margin expansion.”

Conference Call

NN will discuss its results during its quarterly investor conference call on March 5, 2026, at 9 a.m. ET. The call and supplemental presentation may be accessed via NN’s website, www.nninc.com. The conference call can also be accessed by dialing 1-877-255-4315 or 1-412-317-6579. For those who are unavailable to listen to the live broadcast, a replay will be available shortly after the call until March 6, 2027.

NN discloses in this press release the non-GAAP financial measures of adjusted income (loss) from operations, adjusted EBITDA, adjusted net income (loss), adjusted net income (loss) per diluted common share, and free cash flow. Each of these non-GAAP financial measures provides supplementary information about the impacts of restructuring and integration expense, acquisition and transition expenses, foreign exchange impacts on inter-company loans, amortization of intangibles and deferred financing costs, and other non-operating impacts on our business.

The financial tables found later in this press release include a reconciliation of adjusted income (loss) from operations, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow to the U.S. GAAP financial measures of income (loss) from operations, net income (loss), net income (loss) per diluted common share, and cash provided (used) by operating activities.

The Company is unable to include a reconciliation of forward-looking Adjusted EBITDA to net loss, the most directly comparable GAAP measure, without unreasonable effort due to the high variability with respect to the impact of items such as income taxes, depreciation and amortization, stock-based compensation expense and other items that are excluded from this non-GAAP measure.

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.

This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for full year 2026, the impact of, and our ability to execute, our corporate strategies and business initiatives, the potential impact tariffs, high interest rates, high metal costs and additional economic uncertainties may have on our financial condition and results of operations, and the results and timing of our strategic review process. 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 those 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 forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions 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 level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; new laws and governmental regulations; the impact of climate change on our operations; uncertainty of government policies and actions after recent U.S. elections in respect to global trade, tariffs and international trade agreements; 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 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.

With respect to any non-GAAP financial measures included in the following document, the accompanying information required by SEC Regulation G can be found in the back of this document or in the “Investors” section of the Company’s web site, www.nninc.com, under the heading “News & Events” and subheading “Presentations.”
With respect to any non-GAAP financial measures included in the following document, the accompanying information required by SEC Regulation G can be found in the back of this document or in the “Investors” section of the Company’s web site, www.nninc.com, under the heading “News & Events” and subheading “Presentations.”

Investor & Media Contacts:
Joe Caminiti or Abe Plimpton
[email protected]
312-445-2870

View full release here.

Release – FreightCar America, Inc. Announces Its 2026 Annual General Meeting and Record Date

Posted on by [email protected]

Research News and Market Data on RAIL

03/04/2026

CHICAGO, March 04, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (the “Company” or “FreightCar”) announced today that it will hold its annual general meeting of shareholders (the “AGM”) at 10:00 am (Central Time) on April 10, 2026. The AGM will be held in virtual format only, via live webcast on the Internet, with no physical, in-person meeting. The record date for determining shareholders entitled to notice of, and to vote at, the AGM will be the close of business on February 10, 2026.

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 risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse geopolitical, 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; the risk of lack of acceptance of our new railcar offerings; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers (including recent United States tariffs imposed or threatened to be imposed on China, Canada, Mexico and other countries and any retaliatory actions taken by such countries); and other competitive factors. The factors listed above are not exhaustive. New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them. 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.

For more information, please contact:

[email protected]

Release – Saltchuk Resources, Inc. and Great Lakes Dredge & Dock Corporation Announce Commencement of Tender Offer for All Issued and Outstanding Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Posted on by [email protected]

Research News and Market Data on GLDD

Mar 4, 2026

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SEATTLE and HOUSTON, March 04, 2026 (GLOBE NEWSWIRE) — Saltchuk Resources, Inc. (“Saltchuk”) and Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) (“GLDD”) announced that on March 4, 2026, Saltchuk’s wholly-owned subsidiary, Huron MergeCo., Inc. (“Purchaser”), commenced its tender offer (the “Offer”) for all issued and outstanding shares of common stock of GLDD (“Shares”) at a price of $17.00 per Share in cash, subject to any required tax withholdings and without interest (the “Offer Price”). The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of February 10, 2026, by and among Saltchuk, Purchaser, and GLDD (the “Merger Agreement”), which Saltchuk and GLDD announced on February 11, 2026.

The GLDD Board of Directors has unanimously determined that the Merger Agreement and the Offer are in the best interests of GLDD’s stockholders. The GLDD Board of Directors also recommends that the stockholders of GLDD tender their shares to Purchaser pursuant to the Offer.

The Offer will expire at one minute after 11:59 p.m. New York City time on March 31, 2026, unless extended or earlier terminated. Instructions to tender Shares are being communicated to stockholders through MacKenzie Partners, Inc., the information agent for the Offer, or the institution or brokerage that holds Shares on the stockholder’s behalf.

Purchaser’s obligation to accept and pay for Shares tendered in the Offer is subject to conditions, including satisfaction of a minimum tender condition and other customary conditions for transactions of this type. After the completion of the Offer and the satisfaction or waiver of certain conditions, Purchaser will merge with and into GLDD, with GLDD continuing as the surviving entity (the “Merger”). As a result of the Merger, outstanding Shares will generally be cancelled and converted into the right to receive an amount equal to the Offer Price, and GLDD will cease to be a publicly traded company and will become wholly-owned by Saltchuk.

Additional Information

This press release is for information purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy shares of GLDD common stock will be made only pursuant to an offer to purchase and related materials that Saltchuk and Purchaser intend to file with the U.S. Securities and Exchange Commission (the “SEC”). Saltchuk and Purchaser will file a Tender Offer Statement on Schedule TO with the SEC and thereafter GLDD will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the Offer. BEFORE MAKING ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF GLDD ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. These materials will be sent free of charge to GLDD stockholders. In addition, all of these materials (and all other tender offer documents filed with the SEC) will be available at no charge from the SEC through its website at www.sec.gov and upon request to MacKenzie Partners, Inc., the information agent for the Offer, at 7 Penn Plaza, New York, New York 10001, by calling toll free (800) 322-2885. Broadridge Corporate Issuer Solutions, LLC is acting as depositary and paying agent for the Offer.

Cautionary Note Regarding Forward-Looking Statements

Forward-looking statements made herein with respect to the tender offer and related transactions, including, for example, the timing of the completion of the tender offer and the merger or the potential benefits of the tender offer and the merger, reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, GLDD’s and Saltchuk’s actual results may differ materially from its expectations or projections. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “project,” “contemplate,” “predict,” “potential,” “continue,” “may,” “would,” “could,” “should,” “seeks,” “scheduled to,” or other similar words, or the negative of these terms or other variations of these terms or comparable language.

The following factors, among others, could cause actual plans and results to differ materially from those described in forward-looking statements. Such factors include, but are not limited to, the effect of the announcement of the tender offer and related transactions on GLDD’s and Saltchuk’s relationships with employees, governmental entities and other business relationships, operating results and business generally; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, and the risk that the merger agreement may be terminated in circumstances that require GLDD to pay a termination fee; the possibility that competing offers will be made; the outcome of any legal proceedings that may be instituted against GLDD and Saltchuk related to the transactions contemplated by the merger agreement, including the tender offer and the merger; uncertainties as to the timing of the tender offer; uncertainties as to the number of stockholders of GLDD who may tender their stock in the tender offer; the failure to satisfy other conditions to consummation of the tender offer or the merger on the anticipated timeframe or at all, including the receipt of regulatory approvals related to the merger (and any conditions, limitations or restrictions placed on these approvals); risks that the tender offer and related transactions disrupt current plans and operations and the potential difficulties in employee retention as a result of the proposed transactions; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties; and those risks and uncertainties discussed from time to time in GLDD’s other reports and other public filings with the SEC.

Additional information concerning these and other factors that may impact GLDD’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025. GLDD’s SEC filings are available publicly on the SEC’s website at www.sec.gov, on GLDD’s website at gldd.com under “Investors—Financials & Filings—SEC filings” or upon request via email to [email protected]. All forward-looking statements contained in this communication are based on information available to GLDD and Saltchuk as of the date hereof and are made only as of the date of this communication. GLDD and Saltchuk disclaim any obligation or undertaking to update or revise the forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required under applicable law. These forward-looking statements should not be relied upon as representing GLDD’s or Saltchuk’s views as of any date subsequent to the date of this communication. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of GLDD or Saltchuk.

About Saltchuk Resources, Inc.

Saltchuk is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5.6 billion and 8,800 employees. We make multi-generational investments, championing our companies’ individual brands while providing strategic leadership and resources through our Corporate Home. Our companies maintain independent operations guided by shared values: safety comes first, reliability defines our customer relationships, and integrity shapes how we conduct business. We’re committed to each other, to environmental stewardship, and to contributing to our communities, fostering places where anyone would be proud for their children to work. Headquartered in Seattle, additional information is available at www.saltchuk.com.

About Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. GLDD employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 136-year history, GLDD 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 experience-based performance as they advance through GLDD operations. GLDD’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the GLDD’s culture. GLDD’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Contact

Eric Birge,

Vice President of Investor Relations,

313-220-3053