earnings
confidence high
sentiment positive
materiality 0.80
Tennant Q2 sales up 2.9% to $331M, raises FY24 guidance for net sales and EBITDA
TENNANT CO
2024-Q2 EPS reported
$2.94
revenue$642,000,000
- Net sales $331.0M (+2.9% YoY); net income $27.9M (-10.9%), diluted EPS $1.45 (-13.7%).
- Adjusted diluted EPS $1.83 (-1.6%); Adjusted EBITDA $58.6M (+1.7%) with margin 17.7%.
- Raised FY24 guidance: net sales $1,280-$1,305M, Adjusted EBITDA $205-$215M, vs prior $1,270-$1,295M and $198-$213M.
- Americas organic sales +5.5%; EMEA -0.3%; APAC -11.9%; refinanced credit facility to $650M.
- Generated $18.6M operating cash flow; returned $13.3M to shareholders via dividends and buybacks.