Tennant Company reports developments in floor-care equipment, cleaning solutions and autonomous professional cleaning robots for industrial, commercial and outdoor environments. News commonly covers launches such as robotic scrubbers and sweepers, sustainable cleaning technologies, cleaning tools and supplies, and the sales and service model that supports customers through direct channels, distributors and field service.
Company updates also include quarterly results, order trends, operational items such as ERP system recovery, robotics partnerships, regular cash dividends and share repurchase authorizations. Tennant’s recurring announcements connect product innovation with capital allocation and the operating performance of a long-established cleaning-equipment manufacturer.
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.
Tennant Company (NYSE: TNC) has announced a 6% increase in its quarterly cash dividend to $0.265 per share. This marks the company's 51st consecutive year of dividend increases, demonstrating a strong financial foundation and commitment to shareholder value. The increased dividend is payable on December 15, 2022, to shareholders of record by November 30, 2022. Tennant reported sales of $1.09 billion in 2021 and operates globally with approximately 4,250 employees.
Tennant Company (NYSE: TNC) will report its 2022 third quarter results on October 27, 2022, with a conference call scheduled for 10:00 a.m. Central Time. The earnings release will be available before the call on investors.tennantco.com. Founded in 1870 and headquartered in Eden Prairie, Minnesota, Tennant Company is a leader in cleaning solutions, with sales of $1.09 billion in 2021 and around 4,250 employees. The company operates globally, selling products in 15 countries and through distributors in over 100.
Tennant Company (NYSE: TNC) has launched its fourth annual Custodians Are Key campaign, running from September 13 to November 15, 2022. This recognition program honors K-12 custodians in the U.S. and Canada, highlighting their critical role in maintaining safe and clean school environments. Nominations can be made through the Tennant website, with 12 finalists selected, each receiving $500. A grand prize winner will receive $5,000 in May 2023, with their school receiving $10,000.
Tennant Company (TNC) reported second-quarter 2022 net sales of $280.2 million, marking a 0.4% increase year-over-year with an organic sales growth of 4.4%. Adjusted EBITDA was $30.3 million (10.8% margin), down 13.7% from the prior year. Net income surged 69.4% to $16.6 million, bolstered by a building sale and lack of prior expenses. The company confirmed its full-year guidance, forecasting net sales between $1,125 million and $1,170 million. Despite strong demand, supply chain issues and inflationary pressures impacted production and margins.