secwatch.observer — SEC 8-K summary
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Issuer:     TENNANT CO (TNC)
CIK:        0000097134
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001437749-22-009994
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tennant Q1 net income $10.3M on sales $258.1M; lowers FY adjusted EBITDA guidance to $140M-$155M
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- Net sales of $258.1M down 2% YoY; organic sales growth 0.8% with strong demand but supply constraints.
- Gross margin fell to 38.3% from 43% due to material inflation and higher freight costs.
- Adjusted EBITDA $27.9M (10.8% of sales) vs $40.7M in prior year; adjusted diluted EPS $0.73.
- Revised FY2022 guidance: net sales $1,125M-$1,170M, adj. EBITDA $140M-$155M (down from $145M-$160M).
- APAC organic sales declined 20.2% on COVID shutdowns in China; cash used in ops $10.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/97134/000143774922009994/0001437749-22-009994-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/97134/000143774922009994/tnc20220302_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-009994

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