Tennant Q2 net sales $321.7M, adj EPS $1.86; FY guidance raised

TENNANT CO

2023-Q2 EPS reported $2.98 revenue$627,500,000

Net sales $321.7M (+14.8% YoY); net income $31.3M ($1.68 diluted EPS, adj. $1.86).
Adjusted EBITDA $57.6M (17.9% margin, +710 bps YoY).
Full-year 2023 guidance raised: net sales $1.2-1.25B, adj. EBITDA $175-190M.
Operating cash flow $39.1M; returned $9.9M via dividends/repurchases; backlog reduced to $255M.
Organic sales growth 15.0% driven by Americas (+21.7%), price + volume.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TENNANT CO reported the second quarter ended June 30, 2023 results: revenue $321.7 million, net income $31.3 million, EPS $1.68. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $321.7 million
Net income: $31.3 million
EPS: $1.68
Guidance: raised
Result: reported results

Exact text from the filing

$ 0.89 89.1 % Adjusted diluted EPS $ 1.86 $ 0.92 102.6 % Adjusted EBITDA $ 57.6 $ 30.3 90.1 % Adjusted EBITDA margin % 17.9 % 10.8 % 710 bps Highlights • Delivered net sales of $321.7 million for the second quarter of 2023, an increase of 14.8% from the second quarter of 2022, or 15.0% on an organic basis. The increase was primarily due to strong pricing realization

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Source: SEC EDGAR

accession 0000097134-23-000048

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