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Tennant Company (NYSE: TNC) announced senior leadership updates with Barbara A. Balinski appointed as Senior Vice President, Chief Transformation Officer, and Patrick W. Schottler as Senior Vice President, Chief Marketing and Technology Officer, to drive ERP transformation and product innovation. Balinski will lead the business process transformation initiative while Schottler focuses on product innovation and disruptive technologies. The company aims to consolidate and modernize business processes through an organization-wide SAP conversion. Balinski's experience in leading R&D, Marketing, and IT functions will be important to the success of this initiative. Schottler, with his cross-functional expertise, will manage the company's growing portfolio of brands, innovation pipeline, product lifecycle management, and disruptive technologies to drive enterprise growth.
Tennant Company reported strong financial results for the first quarter of 2024, with net sales of $311.0 million, an increase of 1.7% year-over-year. The company achieved a net income growth of 16.9% and an adjusted EBITDA margin of 17.7%, marking a 200 basis points improvement. Tennant also acquired TCS EMEA GmbH to accelerate growth in the EMEA region and invested in Brain Corp for AI-enabled robotic cleaning technologies. The company reaffirmed its 2024 guidance ranges and continues to focus on operational efficiency and strategic acquisitions.
Tennant Company, a global leader in cleaning solutions, expands its i-mop product line internationally, partnering with i-team Global to offer innovative cleaning solutions to Brazil, France, Portugal, and Spain. The i-mop family revolutionizes cleaning with mechanized scrubbers for small spaces, offering efficiency, sustainability, and ease of use.
Tennant Company (NYSE: TNC) declared a regular quarterly cash dividend of $0.28 per share, payable June 14, 2024, to shareholders of record on May 31, 2024. Founded in 1870, Tennant is a global leader in cleaner and healthier world solutions with sales of $1.24 billion in 2023.
