Tennant Stock Price, News & Analysis

Tennant Company (NYSE: TNC) has announced the release of two new compact ride-on sweepers, the S680 and S880, designed for versatile cleaning in various environments. These battery-operated machines cater to light- to medium-duty applications, emphasizing high productivity and maneuverability. Key features of the S680 include user-friendly controls, large hopper capacity, self-leveling systems, and fume-free operation. The S880 is equipped with an automatic filter cleaning system, durable construction, and dual side brushes for enhanced edge cleaning.

Shipments are expected to begin in mid-summer. With these innovations, Tennant aims to provide cleaning professionals with tailored solutions that meet diverse operational needs, reinforcing its position in the cleaning solutions market.

Tennant Company (NYSE: TNC) will release its 2023 first quarter results on April 28, 2023, with a conference call scheduled at 9:00 a.m. Central Time on the same day. The earnings release will be available before the call and can be accessed at investors.tennantco.com under News and Events, Press Releases.

Participants are encouraged to join the call at least 10 minutes early and may need to download audio software. A recorded replay and presentation slides will also be available at the same website following the event. Founded in 1870 and headquartered in Eden Prairie, Minnesota, Tennant Company specializes in solutions that promote a cleaner, safer environment, reporting over $1.09 billion in sales for 2022.

Tennant Company (NYSE: TNC) has announced the launch of its full i-mop portfolio of mechanized walk-behind scrubbers designed for small, cluttered spaces. This innovative product line aims to replace traditional mop-and-bucket cleaning, promising increased efficiency, sustainability, and cleaning effectiveness. The i-mop family features lightweight designs, intuitive controls, and advanced lithium-ion batteries for extended run time. The lineup includes three models: i-mop Lite, i-mop XL Plus, and i-mop XXL Plus, catering to various cleaning needs. Tennant holds exclusive rights to sell i-mop products in the U.S. and Canada.

Tennant Company (NYSE: TNC) has introduced two new ride-on scrubbers, the T681 and T981, expanding its cleaning equipment portfolio. The T681 is designed for maneuverability and larger cleaning capacity, featuring easy controls suitable for various environments. The T981 offers pre-set programs for effective cleaning in large areas. Both models promise enhanced productivity through larger solution tanks and integrated chemical dosing systems. Orders will begin later this spring, catering to the needs of facilities looking for efficient cleaning solutions while maintaining budget considerations.

Tennant Company (TNC) reported its 2022 financial results, achieving a net income of $66.3 million on net sales of $1,092.2 million, reflecting a 0.1% growth. Adjusted EBITDA for the year was $133.7 million, representing 12.2% of sales. In Q4, net income soared to $23.8 million on $291.0 million in sales, a 5.3% increase year-on-year. For 2023, the company projects adjusted net income of $3.70 to $4.50 per share and EBITDA of $140 million to $160 million. While organic sales grew 4.2% for the year, external factors like foreign exchange negatively impacted performance. The company remains optimistic yet cautious amid global economic uncertainties.

On February 14, 2023, Tennant Company (NYSE: TNC) declared a quarterly cash dividend of $0.265 per share. This dividend is payable on March 15, 2023, to shareholders on record as of the close of business on March 3, 2023. Founded in 1870 and headquartered in Eden Prairie, Minnesota, Tennant Company specializes in cleaning technologies and equipment for various environments. It generated $1.09 billion in sales in 2021 and employs approximately 4,250 people across global manufacturing and distribution networks.

Tennant Company (NYSE: TNC) has announced it will report its fourth quarter and full-year results for 2022 on February 23, 2023, at 10:00 a.m. Central Time. A conference call will follow the earnings release, which will be available on the company's investors portal prior to the call. Interested parties are advised to log in 10 minutes early and may need to download audio software. A replay of the conference call will also be posted on the same portal.

Founded in 1870, Tennant is a leader in sustainable cleaning solutions, achieving sales of $1.09 billion in 2021.

Tennant Company (TNC) reported third-quarter 2022 net income of $15.6 million on net sales of $262.9 million, reflecting a 3.3% decrease from the previous year. The organic sales growth was 1.7%, driven by higher prices but impacted by supply chain constraints. Adjusted EBITDA was $33.8 million, down 6.1% year-over-year. The company lowered its full-year EPS guidance to $3.20 - $3.60 and adjusted EBITDA guidance to $130 million - $140 million, citing macroeconomic challenges like foreign currency volatility and inflation. A dividend increase was announced, marking the 51st consecutive year of growth.