secwatch.observer — SEC 8-K summary
======================================

Issuer:     TENNANT CO (TNC)
CIK:        0000097134
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0000097134-22-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tennant Q3 net sales down 3.3% YoY; lowers FY2022 EPS and EBITDA guidance
-------------------------------------------------------------------------

- Q3 net sales $262.9M (down 3.3% YoY); organic sales +1.7% on pricing; volumes down due to supply constraints.
- Q3 net income $15.6M (down 27.4%); adjusted EPS $0.99; adjusted EBITDA $33.8M (margin 12.9%).
- FY2022 guidance lowered: diluted EPS $3.20-$3.60 (from prior range); adjusted EBITDA $130M-$140M.
- Backlog ~$280M; production ramp slower than anticipated due to supply-chain disruptions.
- Board approved 6% dividend increase to $0.265/share, payable Dec. 15 to holders of record Nov. 30.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/97134/000009713422000015/0000097134-22-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/97134/000009713422000015/tnc-20221027.htm
  HTML page:      https://secwatch.observer/filing/0000097134-22-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer