Tennant reports record FY2021 net income of $64.9M, guides FY2022 adjusted EPS $4.40-$5.00

TENNANT CO

2021-FY EPS reported $3.44 revenue$1,090,800,000

Full year net sales $1.09B (+9.0% YoY), organic growth 9.1%; net income $64.9M (vs $33.7M in 2020).
Q4 net sales $276.4M (+1.2% YoY, organic +4.5%); net income $7.9M (vs $2.5M).
FY2021 adjusted EBITDA $140.2M (12.9% of sales); adjusted diluted EPS $4.39.
FY2022 guidance: net sales $1.125B-$1.17B, adjusted EBITDA $145M-$160M, adjusted diluted EPS $4.40-$5.00.
Adjusted gross margin fell 90 bps to 40.2% for full year, 460 bps to 36.7% in Q4, due to inflation and supply chain.

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