Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Fourth quarter and FY 2026 financial results. For FY 2026, AZZ reported adjusted net income of $187.1 million, or $6.19 per share, compared to $156.8 million, or $5.20 per share, during FY 2025, and to our estimate of $182.4 million, or $6.03 per share. Compared to FY 2025, sales increased 4.6% to $1.650 billion. AZZ generated a 23.9% gross margin as a percentage of sales compared to 24.3% during the prior year. Adjusted EBITDA increased to $367.6 million, representing 22.3% of sales, compared to $347.9 million, or 22.0% of sales, in FY 2025. Adjusted net income and EPS during the fourth quarter of FY 2026 were $40.4 million and $1.34, respectively, compared to our estimates of $35.7 million and $1.18 per share. Fourth quarter adjusted EBITDA increased to $81.3 million, representing 21.1% of sales, compared to $71.2 million, or 20.2% of sales, during the prior year period.
Segment results. Compared to the prior year, FY 2026 Metal Coatings sales were up 14.1% to $758.7 million, while Precoat Metals sales were down 2.3% to $891.4 million. Compared to the fourth quarter of FY 2025, fourth quarter Metal Coatings sales were up 25% to $186.5 million, while Precoat Metals sales were down 2.4% to $198.6 million. Fourth quarter and FY 2026 segment adjusted EBITDA margin amounted to 30.2% and 31.0%, respectively, for Metal Coatings, and 18.2% and 19.8% for Precoat Metals.
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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.
NEW ALBANY, Ohio, April 22, 2026 (GLOBE NEWSWIRE) — Commercial Vehicle Group (the “Company” or “CVG”) (NASDAQ: CVGI) will hold its quarterly conference call on Wednesday, May 6, 2026, at 8:30 a.m. ET, to discuss first quarter 2026 financial results. CVG will issue a press release and presentation prior to the conference call.
Toll-free participants dial (833) 461-5787 using conference code 496990489. International participants dial (585) 542-9983 using conference code 496990489. This call is being webcast and can be accessed through the “Investors” section of CVG’s website at ir.cvgrp.com where it will be archived for one year.
About CVG
Commercial Vehicle Group, Inc. and its subsidiaries, is a global provider of systems, assemblies and components to global commercial vehicle markets and electric vehicle markets. We deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.
Investor Relations Contact: Ross Collins or Nathan Skown Alpha IR Group [email protected]
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.
Model Tweaks. With 1Q26 results to be released next week, we reviewed our assumptions and resulting estimates for the quarter. Titan continues to face inflation and tariff pressure and, more recently, extra pricing pressure from OEMs facing their own end market challenges. In addition, after speaking with management, we were too low on our tax assumption. Given the above, we lowered our earnings expectations, although we are maintaining our revenue and adjusted EBITDA projections.
Details. Revenue for 1Q26 is estimated at $495 million, consistent with our prior expectation. Adjusted EBITDA is $21.5 million, also consistent with our prior projections. We did lower our gross profit assumption to 13.9% from 14.9% and increased our tax expense assumption from $2.5 million to $5 million. As a result of the changes, our projected EPS goes from $0.09/sh to a loss of $0.02 per share.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Two of the most dominant component suppliers in the recreational vehicle and outdoor enthusiast markets may be on the verge of combining. Patrick Industries (NASDAQ: PATK) and LCI Industries (NYSE: LCII) — both headquartered in Elkhart, Indiana — confirmed on April 17 that they are in active discussions regarding a potential merger of equals. Bloomberg first reported the deal would be structured as an all-stock transaction.
The announcement, delivered via separate press releases after Friday’s market close, sent LCI’s trading volume to nearly 3.8 times its 20-day average — a clear signal that the market is treating this as a high-conviction event.
The strategic logic is straightforward. Patrick Industries, founded in 1959, manufactures and distributes component products for the RV, marine, powersports, and housing markets. The company operates more than 190 facilities across a portfolio of over 85 brands and employs more than 10,000 people. LCI Industries, through its Lippert Components subsidiary, is a global leader in engineered components for outdoor recreation and transportation markets, with over 140 manufacturing and distribution facilities across North America, Africa, and Europe.
These are not two fringe players. Together, they supply a substantial portion of the infrastructure that goes into RVs, marine vessels, and powersports units built across North America. A combined entity would carry significant scale advantages — from raw material procurement and logistics to technology investment and aftermarket distribution. As of April 17, Patrick carried a market cap of approximately $3.54 billion and LCI sat at roughly $3 billion. A successful all-stock merger would create an outdoor recreation supply chain player worth approximately $6.5 billion.
The timing is deliberate. The RV industry has been navigating a post-pandemic normalization cycle, with unit shipments softening from their 2021 highs. Consolidation at the supplier tier is a rational response — two companies with overlapping market footprints, shared OEM customers, and comparable operational infrastructure have more to gain together than competing independently. The potential synergies are tangible: combined purchasing power, reduced overhead duplication across facilities, stronger pricing leverage with customers, and a platform large enough to accelerate investment in connected vehicle and smart RV technology.
Historically, LCI has grown through bolt-on acquisitions of product lines and smaller businesses. A merger of equals with Patrick would represent a significant departure from that playbook — a transformational combination rather than incremental expansion. For Patrick, it would provide immediate global distribution reach through Lippert’s international footprint, something the company would otherwise take years to build organically.
There are still material unknowns. No definitive agreement has been signed. Both companies stated they will not comment further until a formal deal is announced or discussions are terminated. Regulatory review of a transaction this size would also be expected, given the combined company’s market share across several RV and marine component categories.
For investors in small and mid-cap industrials, this is a developing story with real consequences for the outdoor recreation supply chain. If Patrick and LCI formalize this combination, it would stand as one of the more significant sector realignments of 2026 — and a signal that the Elkhart manufacturing corridor is entering a new phase of consolidation.
No assurance of a transaction has been given. Watch for an 8-K filing or formal press release for the next material development.
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.
Investment. Yesterday, Graham announced the sale of $50 million of GHM common stock to certain accounts advised by T. Rowe Price Investment Management, Inc. Graham intends to use proceeds from the stock sale to further strengthen the Company’s balance sheet and financial flexibility through debt repayment and help fund future investment in organic and inorganic growth opportunities.
Details. The T. Rowe Price accounts will acquire 599,808 shares, approximately 5% of the outstanding common, of Graham common stock at $83.36 per share, based upon the 20-day average closing price of the company’s common stock on the New York Stock Exchange on April 13, 2026. The transaction is expected to close on April 16, 2026. The T. Rowe accounts will become the fourth largest shareholder following completion of the transaction. The shares will be registered for resale on a registration statement to be filed with the Securities and Exchange Commission within 30 days.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
The industrial sector just had its biggest IPO moment since 1999, and artificial intelligence deserves much of the credit.
Madison Air Solutions Corp. (NYSE: MAIR) debuted on the New York Stock Exchange Thursday, raising $2.23 billion after pricing 82.7 million shares at $27 each — the top of its marketed range. By early afternoon, shares were trading around $31.26, a 16% pop that gave the Chicago-based ventilation and filtration systems provider a market capitalization of approximately $13.2 billion.
The last time a US industrial company pulled off an IPO of this magnitude was when UPS raised $5.5 billion in 1999 — a listing that rode the wave of early e-commerce enthusiasm. Madison Air is riding a different wave: the data center buildout fueling the AI boom.
While the company operates across more than 30 brand names — including Nortek Data Center Cooling, Airxchange and Zephyr — and generates revenue from sectors spanning semiconductor manufacturing and life sciences, it is the data center angle that captured investor attention. Data centers account for roughly 20% of Madison Air’s commercial business, and that segment drove about two-thirds of total revenue in 2025. The company’s liquid, hybrid and air cooling products are increasingly critical infrastructure as hyperscalers race to build out AI compute capacity.
The pitch landed. Madison Air is entering the public markets at a moment when HVAC and thermal management companies tied to the data center buildout have become some of the most sought-after names in industrials. Comfort Systems USA surged more than 360% in the 12 months through Wednesday, while Modine Manufacturing roughly tripled over the same period. Madison Air’s IPO is the latest — and largest — in a string of high-profile industrial debuts, following Legence Corp., which surged 148% from its September IPO through Wednesday, and Forgent Power Solutions, which is up 20% since its February debut.
The company posted revenue of $3.34 billion and net income of $124 million for 2025, compared with $2.62 billion in revenue and $236 million in net income the year prior. The margin compression is worth noting — net income fell despite revenue growth — as tariffs added $51.3 million to the company’s cost of goods sold last year. CEO Jill Wyant said Madison Air is offsetting those pressures through pricing adjustments and is still evaluating the impact of more recent tariff changes on metals.
Founder Larry Gies retains control of the company through super-voting shares following the IPO. Madison Industries, which Gies controls, also participated in a concurrent $100 million private placement at the IPO price. The deal was led by Goldman Sachs, Barclays, Jefferies and Wells Fargo, with anchor interest from Morgan Stanley Investment Management, Durable Capital Partners and HRTG GPE — institutions that collectively expressed interest in up to $525 million of shares ahead of the offering.
Madison Air is not a small-cap story — at $13.2 billion, it clears the threshold by a wide margin. But its market debut matters to small and microcap investors for a clear reason: it validates the investability of the broader AI infrastructure supply chain at scale. The companies supplying cooling systems, filtration and thermal management to data centers — many of them smaller, less-covered names — are operating in what Madison Air estimates is a $40 billion market for specialized air systems. When an IPO of this size trades up 16% on day one, it sends a signal about where institutional capital is flowing. The picks-and-shovels trade around AI infrastructure is far from over.
Struggling footwear brand Allbirds shocked investors Wednesday with a dramatic pivot away from its core business, announcing plans to transition into artificial intelligence infrastructure—a move that sent its stock soaring more than 700% in a single session.
Shares of Allbirds, which had been trading below $3, surged to over $17 following the announcement, as investors rushed into what is now being rebranded as NewBird AI. Just a day earlier, the company’s market capitalization stood at roughly $21 million, a far cry from its peak valuation of over $4 billion.
From Sustainable Sneakers to AI Compute
The pivot comes after Allbirds effectively exited the footwear business. The company recently sold its intellectual property and key assets for $39 million to American Exchange Group, which will continue to operate the Allbirds brand independently.
Now, management is betting on a completely different future: AI compute infrastructure.
According to the company, NewBird AI plans to acquire high-performance, low-latency computing hardware and lease capacity to customers underserved by existing providers. The firm also announced it is seeking to raise up to $50 million in funding to support the transition.
The move places Allbirds among a growing list of companies attempting to capitalize on surging demand for AI infrastructure—a market fueled by rapid adoption of generative AI and dominated by players like Nvidia.
A Familiar Playbook for Troubled Companies
While the market reaction has been dramatic, the strategy itself is not entirely new. Historically, struggling companies have attempted to revive investor interest by pivoting toward high-growth sectors.
During the cryptocurrency boom, numerous firms rebranded or shifted their business models to blockchain-related ventures, often triggering short-term spikes in share prices. Many of those moves, however, failed to deliver long-term value.
Allbirds’ pivot raises similar questions: Is this a credible transformation, or a speculative attempt to ride the AI wave?
Execution Risk Remains High
Entering the AI infrastructure space presents significant challenges. The business is capital-intensive, highly competitive, and technologically complex. Established players—including hyperscalers and semiconductor leaders—already dominate the market.
For a company that recently shuttered its retail footprint and saw revenues decline sharply—from $298 million in 2022 to $152 million in 2025—the transition represents a steep uphill climb.
Moreover, success in AI infrastructure depends not only on hardware acquisition but also on customer relationships, scale, and operational expertise, areas where Allbirds has limited experience.
Market Reaction vs. Fundamental Reality
The surge in Allbirds’ stock highlights the continued enthusiasm surrounding AI-related investments. Even small-cap companies with limited exposure to the sector are seeing outsized moves when they announce AI strategies.
However, investors should be cautious. The gap between announcement-driven momentum and long-term execution can be substantial.
Allbirds’ transformation into NewBird AI marks one of the more unusual pivots in recent market history. While the stock’s explosive move reflects strong demand for AI exposure, the company’s ability to successfully transition from footwear to high-performance computing remains highly uncertain.
For investors, the story underscores a broader theme: in today’s market, AI narratives can drive rapid gains—but fundamentals ultimately determine staying power.
Accounts advised by T. Rowe Price to invest $50 million in Graham to acquire 599,808 shares (5%) of Graham common stock at $83.36 per share based on 20-day average closing price
The Company intends to use proceeds to further strengthen the Company’s balance sheet through debt repayment and help fund future investment in organic and inorganic growth opportunities
BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Energy & Process, and Space industries, today announced the Company has agreed to sell $50 million of shares (5%) of common stock to certain accounts advised by T. Rowe Price Investment Management, Inc. (“T. Rowe Price”), a global investment management organization.
T. Rowe Price accounts will acquire 599,808 shares of Graham common stock at $83.36 per share, based upon the 20-day average closing price of the company’s common stock on the New York Stock Exchange on April 13, 2026. The transaction is expected to close on April 16, 2026, subject to customary closing conditions. Graham intends to use proceeds from the stock sale to further strengthen the Company’s balance sheet and financial flexibility through debt repayment and help fund future investment in organic and inorganic growth opportunities.
Matthew J. Malone, Graham’s President and Chief Executive Officer, said, “We are pleased to welcome T. Rowe Price as a long-term partner and shareholder. This investment underscores the strength of the Graham platform and our positioning across attractive, growing end markets. The proceeds from this stock sale enhance our financial flexibility and support our disciplined capital allocation strategy for us to continue to drive long-term shareholder value.”
The sale of shares will be made pursuant to a stock purchase agreement pursuant to which the shares will be registered for resale on a registration statement to be filed with the Securities and Exchange Commission (the “SEC”) within 30 days. Copies of these documents, as and when available, may be obtained, free of charge, at the SEC’s website at www.sec.gov.
About Graham Corporation Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer, vacuum, and advanced mixing technologies for the Defense, Energy & Process, and Space industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise, proprietary technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Safe Harbor Regarding Forward Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “continue,” “believes,” “intends,” “will,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, the use of proceeds from the stock sale are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.
Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
PDF VersionNN Increases its 2026 New Business Wins guidance range to $80 to $90 million; Q1 wins heavily concentrated in Electric Grid and Data Center markets
CHARLOTTE, N.C., April 14, 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 announced that its preliminary Q1 2026 net sales results are expected to demonstrate growth versus the prior year and the Company’s forecast.
The New Business program also delivered strong results in Q1. The Company was awarded approximately $43 million of new awards at peak annual sales, centered on the Electric Grid and Data Center markets. Notably, these awards continue NN’s strong recent momentum as the Company re-positions its overall portfolio in key secular high-growth markets and away from commodity automotive markets. With the strength of NN’s new business wins in Q1 and a strong start in Q2, the Company is raising its full-year guidance range, now expecting new business wins to fall within the range of $80 million to $90 million in 2026.
The launch of more than 60 new programs has resulted in a shippable backlog as orders outpaced production during the quarter. These newly launched programs and traction in key end markets are positioning NN to drive strong net sales growth through 2026 and beyond. NN is maintaining its guidance range on net sales, expecting results to come in toward the top half of its original guidance range of $445 million to $465 million.
Harold Bevis, Chief Executive Officer and President of NN, Inc., commented, “NN’s sales are growing as expected and trending towards the high end of our previously guided range. Electric Grid, Data Center, Defense, and Electronics end markets are doing well, while global auto is stabilizing. Additionally, we are underway with industrializing a large portion of our previously awarded growth programs. This is expected to support our sales growth targets for 2026 and beyond. These sales are being produced through a lower cost operating model that is strengthening margins. With the large value of Electric Grid and Data Center new awards in Q1, we are increasing our guidance in this area to approximately $80 to $90 million of expected new sales wins secured during 2026.”
“We are targeting strong sales growth in 2026 and beyond as well as increasing the amount and share of non-commodity auto business at the Company. Overall, our end markets and customers are healthy while global auto undergoes changes. We are currently running ahead of both our 2026 and long-term goals. We look forward to providing more information on the performance of the business when we release Q1 2026 earnings, which is planned for May 6, 2026.”
The Company is finalizing its financial results for the quarter ended March 31, 2026. The above information is based on preliminary information and management’s estimates for the quarter ended March 31, 2026, and is subject to the Company’s financial statement closing procedures.
ABOUT NN’S GROWTH PROGRAM
NN is underway with an intentional program to grow sales, improve its profit profile, and reposition its end-market exposure. NN is pursuing several target markets that (1) require products that deliver safety critical functionality at scale; (2) fit the Company’s engineering and manufacturing platform; and (3) allow for higher, accretive margins due to delivering higher value. The targeted end-markets include:
High-value auto parts – NN’s current #1 end market
Electric grid and data center parts – NN’s current #2 end market, on a plan to become NN’s #1 end market
Defense, weapons, and electronic parts
Medical equipment parts
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 expect Q1 2026 net sales and expected new business wins and net sales 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, those related to the preliminary nature of NN’s quarter ended March 31, 2026 financial information, which is subject to completion of normal quarter-ended accounting procedures and closing adjustments; the assumptions underlying NN’s new business wins guidance for fiscal 2026, 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
CHICAGO, April 8, 2026 /PRNewswire/ — Titan International, Inc. will release its first quarter 2026 financial results before the opening of the market on Thursday, April 30, 2026 to be followed by a teleconference and webcast on Thursday, April 30, 2026 at 9:00 a.m. Eastern Time.
About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.
CHARLOTTE, N.C., March 27, 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 announced that it has acquired the large-scale automated plating operations from a leading global provider of electrical infrastructure solutions. This seller is an existing customer which is moving from in-house manufacturing to outsourced operations with this decision.
The equipment acquisition will enable NN to significantly expand its processing capabilities in silver-plated busbars and terminals among other capabilities, which are ideal electrical components for electric grid and data center equipment. This further enables NN to broaden its market aperture on growth in this area, its second largest end market.
The plating line being acquired is substantially larger and more automated than NN’s current capabilities, featuring large plating baths designed for high-volume, low-cost production. The automated plating line will enable NN to process larger parts representing a transformative expansion of its product offering in terms of size, volume, and type of plated metal products that NN will be able to deliver to its electrical customers.
NN expects this new capability to be operational at an existing facility in the fall of 2026. Financially, the new business won from this line will be inclusive to the Company’s prior guidance of $70 million to $80 million of new business wins in 2026. The capex associated with this project is inclusive to the company’s capex guidance of $20 million to $22 million in 2026. The Company is funding this strategic addition from operating cash flow.
The key end markets that will be targeted with this new capability are electric grid equipment and data center equipment. The Company is initially focused on switchgear assemblies used in emergency power generation for the grid, hospitals, and data centers.
Harold Bevis, President and Chief Executive Officer of NN, Inc., commented, “This equipment acquisition is another stepping stone for NN’s strategic pivot into certain high-value verticals that fit its operational footprint. We are adding capabilities that open up the aperture for growth in the target markets of electric grid and data center. Our plating business is known in the industry as GMF and is one of the highest gross margin plants in the NN portfolio. This is accretive business for NN. The return on investment is consistent with the ROIs that we target for new business.”
Bevis continued, “This is precisely the type of high-value, capital-efficient growth opportunity that we are focused on securing as we execute our sales growth plan. GMF has a strong reputation for quality, on-time delivery, and deep expertise in the science of electroplating. This business is key to growth in electronics, defense, electric grid, and data center. This equipment is a logical addition to our capabilities and will unlock our prospecting into larger parts, higher volume parts, bigger programs, and more customers. The equipment was acquired from a long-term NN customer, that intends to repurpose its reclaimed floor space as data center and grid infrastructure markets take off, so this is a win-win for all parties.”
“This acquisition is consistent with NN’s broader strategic transformation plan, which has already delivered three consecutive years of improved adjusted EBITDA. The Company has exited dilutive, lower-value business and is actively replacing that rationalized volume with higher-margin, accretive new growth through engineering-led new products and new program wins. NN has secured more than $200 million of new awards from its technology-based new business development program, and NN expects to launch approximately 100 awarded programs during 2026. Launched in mid-2023 under new management, the new business program is focused on leveraging the Company’s technology and operational footprint strengths into new areas. The Company is guiding to a fourth consecutive year of improved adjusted EBITDA and a materially higher amount of operating cash flow.”
Bevis continued, “NN has a couple of other small acquisitions that we are focused upon and have been working on for about a year. They are also focused on non-automotive, high-value capability expansion and profitable growth. Over the last two years most of our operating cash flow was consumed by four plant closures and severing about 800 people, which was tough and brutal for those impacted but necessary for NN’s transition.
We have turned the page onto a new chapter and have a balanced approach to our revenue growth and repositioning. We are pursuing a few target markets that require safety critical features on linchpin metal parts and assemblies. We are extremely committed to a common engineering and manufacturing platform that can deliver value-added metal part solutions in several safety-critical end markets that offer high margins due to delivering high value. These include:
High-value auto parts – our #1 end market
Electric grid and data center parts – our #2 market, on a plan to become our #1 market
Defense, weapons, and electronic parts
Medical equipment parts
Bevis concluded, “We are intentionally pricing higher on low-value, low-margin business like commodity auto. Where we can, we are repurposing existing equipment, but when we must buy new equipment, we are doing so. We do not keep these kinds of records but 2026 will probably be the most amount of new equipment installed in our company. And it is all pre-loaded with new awards. The key enablers in our success are our engineering skills and our trade secrets regarding making metals deliver exceptional functionality at scale. This is code for world-class six sigma quality processes designed around error-proof, fail-proof design-for-manufacturability. We do this through our own knowledge, co-development with our customers, and emerging AI assistance. 2026 is shaping up to be a fun year focused upon engineering-driven revenue growth.”
ABOUT GMF
GMF has supported high-reliability programs across defense, aerospace, medical, and industrial markets for more than 50 years. The division provides manual rack, barrel, and vibratory plating, stainless steel electropolishing, and a broad range of precious and non-precious metal finishes that meet stringent military and commercial specifications. GMF holds NADCAP accreditation, ISO 13485:2016, and ISO 9001:2015 certifications, and processes millions of parts annually across more than 50,000 square feet of production space. The division is noted for its reputation in high-quality production, on-time delivery, and a 50% hit rate on quoted new business, which is well above industry averages. For more information, please visit www.genmetal.com.
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
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.
Consolidation. Last week, Titan announced a decision to consolidate production within its North American manufacturing footprint, which will result in the closure of its manufacturing facility in Jackson, Tennessee, by the end of October 2026. The Company expects production currently performed in Jackson to be transitioned to other existing Titan facilities over the coming months. We view this action as part of the Company’s ongoing efforts to optimize its manufacturing footprint and improve capacity utilization, given the uncertain operating environment.
Details. The Jackson closure is part of the ongoing synergies the Company expected to deliver from the Carlstar acquisition. The one-time costs for the plant closure and manufacturing relocation are estimated to be in the $7 million range, likely to hit in relatively equal amounts over the next three quarters. Estimated annual savings are in the $5 million range, with the full amount likely to begin in 2027.
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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.
WEST CHICAGO, Ill., March 18, 2026 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) (“Titan” or the “Company”), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today announced a decision to consolidate production within its North American manufacturing footprint, which will result in the closure of its manufacturing facility in Jackson, Tennessee by the end of October 2026.
The Company expects production currently performed in Jackson to be transitioned to other existing Titan facilities over the coming months. This action is part of Titan’s ongoing efforts to optimize its manufacturing footprint and improve capacity utilization.
“The decision to consolidate production and close the Jackson facility is difficult knowing the impact it has on our team members and their families,” said Paul Reitz, President and CEO of Titan International. “Titan continues to take deliberate actions to improve its operating efficiency while maintaining the flexibility and scale required to serve our customers.”
The closure of the Jackson, TN facility will impact approximately 140 people and Titan is committed to supporting affected employees through this transition. The Company will work closely with local leadership and provide assistance to impacted team members, including severance, benefits continuation and job placement support. The Company will continue to operate a robust network of manufacturing facilities across North America to support its customers across outdoor power equipment, powersports, agriculture, construction, earthmoving, and other off‑highway end markets.
About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.
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