Tennant Q2 revenue up 27.5% organically to $279.1M; adjusted EPS $1.18 vs $0.96 YoY

TENNANT CO

2021-Q2 EPS reported $1.88 revenue$542,400,000

Net sales $279.1M, organic growth 27.5% YoY; Americas +22.7%, EMEA +55.5%, APAC +16.6%.
GAAP net income $9.8M ($0.51 diluted EPS); adjusted EPS $1.18, up from $0.96 in Q2 2020.
Adjusted EBITDA $35.1M (12.6% of sales) vs $35.3M (16.5%) prior year; cost pressures from freight, materials, labor.
Company affirms FY2021 guidance: net sales $1.090B-$1.110B, adjusted EPS $4.10-$4.50, adjusted EBITDA $140M-$150M.
Amended credit agreement and redeemed $300M of 5.625% senior notes to reduce future interest expense.

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