Tennant Stock Price, News & Analysis

Tennant Company (NYSE: TNC) reported Q2 2024 financial results, showing net sales growth of 2.9% to $331.0 million and Adjusted EBITDA growth of 1.7% to $58.6 million. The company increased its full-year 2024 guidance, now expecting net sales between $1,280 million and $1,305 million. Key highlights include:

- Organic sales growth of 2.7%, driven by strong pricing realization

- Operating cash flow of $18.6 million

- Returned $13.3 million to shareholders through dividends and share repurchases

- Published 2024 Sustainability Report

- Refinanced debt agreement, increasing revolving credit facility limit to $650 million

The company reported strong performance in the Americas region but faced challenges in EMEA and APAC markets.

Tennant Company (NYSE: TNC), a global leader in surface maintenance solutions, has declared a regular quarterly cash dividend of $0.28 per share. The dividend is payable on September 16, 2024, to shareholders of record as of August 30, 2024. Founded in 1870, Tennant Company specializes in designing, manufacturing, and marketing equipment for maintaining surfaces in various environments, as well as sustainable cleaning technologies and supplies. The company reported sales of $1.24 billion in 2023 and employs approximately 4,500 people globally. Tennant operates manufacturing facilities worldwide and sells products directly in 15 countries, with distribution in over 100 countries.

Tennant Company (NYSE: TNC) has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, before the market opens. The company will host a conference call at 10:00 a.m. Eastern Time/9 a.m. Central Time to discuss the results. Investors can access the webcast and accompanying slides on the company's website at investors.tennantco.com.

Tennant Company, founded in 1870 and headquartered in Eden Prairie, Minnesota, is a global leader in designing, manufacturing, and marketing solutions for cleaner, safer, and healthier environments. The company reported sales of $1.24 billion in 2023 and employs approximately 4,500 people worldwide. Tennant operates in 15 countries directly and through distributors in over 100 countries.

Tennant Company (NYSE: TNC) has published its 2024 (FY23) Sustainability Report, marking the first year of reporting under its new 'Thriving People. Healthy Planet.' framework. Significant achievements include a 13% reduction in Scope 1 and 2 greenhouse gas emissions and sourcing 92% of global electricity from renewable sources. Tennant also reduced Scope 3 emissions by 8%, increased the number of women in leadership roles to 23%, and saw 25.4% of U.S. employees identifying as BIPOC.

In 2023, Tennant invested over $1.1 million in community support and helped clean 9.7 trillion square feet of shared spaces with its products. The company aims to have 33% of leadership positions held by women and 30% of U.S. employees identifying as BIPOC by 2030. Further details are available in the full report on Tennant's investor website.

Pinnacle West Capital Corp. (NYSE: PNW) announced the appointment of three new board members: Ronald Butler Jr., Carol S. Eicher, and Susan T. Flanagan, effective July 1, 2024. Butler, a managing partner at EY, brings 32 years of diverse management experience. Eicher, with over 30 years in global manufacturing and operations, joins the Audit and Nuclear & Operating committees. Flanagan, an energy and renewables expert, joins the Audit and Finance committees. These additions increase the number of directors from nine to 12, of which 11 are independent. Pinnacle West aims to leverage their expertise to enhance strategy and operations in the evolving energy landscape.

Tennant Company (NYSE: TNC) has appointed Mark W. Sheahan, President and CEO of Graco Inc. (NYSE: GGG), to its Board of Directors, effective May 15, 2024. Sheahan brings nearly three decades of experience in global manufacturing, strategic growth, technology-driven product development, and financial strategy. Dave Huml, Tennant's President and CEO, expressed confidence that Sheahan's expertise will significantly contribute to the company's long-term success. Tennant Company, a leader in cleaning solutions, reported $1.24 billion in sales in 2023 and employs approximately 4,500 people worldwide.

Tennant Company (NYSE: TNC) announced Izet Subasic, a custodian at Saint Ambrose on the Hill Catholic School in Missouri, as the grand-prize winner in its 2023-2024 Custodians Are Key program. Standing out from over 1,700 nominations, Izet and his school received a total award of $15,000 during a celebration on May 10, 2024. This recognition highlights Izet's dedication to creating a supportive and clean environment for students and staff. The Custodians Are Key program, now in its fifth year, celebrates the vital role of K-12 custodians across the U.S. and Canada. Tennant Company, a leader in sustainable cleaning solutions, reported sales of $1.24 billion in 2023.

Tennant Company (NYSE: TNC) is hosting an Investor Day at NYSE with financial analysts and institutional investors to discuss business strategy and growth outlook. The company, founded in 1870, is a global leader in cleaner, safer, and healthier solutions with $1.24 billion sales in 2023.

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.