Tennant Q3 net sales up 15.9% to $304.7M, raises FY2023 guidance, ups dividend 5.7%

TENNANT CO

2023-Q3 EPS reported $4.19 revenue$932,200,000

Q3 net sales $304.7M (+15.9% YoY), net income $22.9M (+46.8%), diluted EPS $1.21 (+45.8%), adjusted EPS $1.34 (+36.7%)
Raised full-year 2023 guidance: net sales $1.23B-$1.25B, adjusted EBITDA $190-$200M, adjusted EPS $5.70-$6.10
Announced 5.7% dividend increase to $0.28/share, payable Dec 15, 2023 to shareholders of record Nov 30, 2023
Operating cash flow of $54.4M, over 100% free cash flow conversion for third consecutive quarter
Americas organic net sales grew 20.8%; EMEA declined 2.8% due to weaker market conditions; APAC up 11.8%

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

TENNANT CO reported the quarter ended September 30, 2023 results: revenue $304.7 million, net income $22.9 million, EPS $1.21. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $304.7 million
Net income: $22.9 million
EPS: $1.21
Guidance: raised
Result: reported results

Exact text from the filing

$ 0.83 45.8 % Adjusted diluted EPS $ 1.34 $ 0.98 36.7 % Adjusted EBITDA $ 45.9 $ 33.8 35.8 % Adjusted EBITDA margin % 15.1 % 12.9 % 220 bps Highlights • Delivered net sales of $304.7 million for the third quarter of 2023, an increase of 15.9% from the third quarter of 2022, or 13.9% on an organic basis due to strong pricing realization and volume growth. A more

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Source: SEC EDGAR

accession 0000097134-23-000057

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