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Tennant Company (symbol: TNC) is a renowned leader in designing, manufacturing, and marketing solutions aimed at fostering a cleaner, safer, and healthier world. Established in 1870 by George H. Tennant as a woodworking enterprise, it has evolved into a global innovator in cleaning technology.
Tennant's core business revolves around providing advanced solutions for maintaining indoor and outdoor surfaces. Their product lineup includes mechanized cleaning equipment, sustainable cleaning technologies, aftermarket parts, consumables, and specialized surface coatings. Additionally, they offer comprehensive business solutions such as financing, rental, leasing programs, and machine-to-machine asset management solutions through their TennantTrue® suite of services.
The company markets its products under several brands including Tennant®, Nobles®, Green Machines®, Orbio®, and Alfa. Tennant operates across four major geographic business units: North America, Latin America, Europe, Middle East, Africa, and Asia Pacific.
With a steadfast commitment to innovation, Tennant has made significant strides in chemical-free cleaning technologies. Their vision to become a global leader in this domain is reflected in their continuous pursuit of new advancements. Tennant's recent achievements include the introduction of cutting-edge equipment and sustainable cleaning solutions that set new industry standards.
Financially, Tennant maintains a robust position, supported by strategic partnerships and a diverse product portfolio. The company's dedication to quality and performance ensures that their products deliver superior cleaning results, meeting the evolving needs of their customers worldwide.
For the latest updates and relevant information about Tennant Company's performance, events, and developments, stay tuned to our news section.
Tennant Company (NYSE: TNC) has introduced lithium-ion technology to its autonomous machines, enhancing cleaning efficiency. This upgrade affects the T380AMR, T7AMR, and T16AMR models, providing run times of 5 to 6.5 hours compared to 4 hours with lead-acid batteries. Customers can expect up to 60% more cleaning time, reduced maintenance, and operational cost savings. This technology aims to optimize resource allocation in cleaning environments, with over 5,400 robotic scrubbers deployed globally.
Tennant Company (TNC) reported record net income of $64.9 million for the full year 2021, driven by 9.1% organic sales growth, totaling $1.09 billion in net sales. The fourth quarter saw a net income of $7.9 million with 4.5% organic growth. Adjusted EBITDA for the year was $140.2 million (12.9% margin). Tennant anticipates a challenging 2022, with GAAP earnings guidance of $3.90 to $4.50 per diluted share and adjusted EBITDA forecast between $145 million to $160 million. Despite macroeconomic pressures, demand for products has rebounded to pre-pandemic levels.
Tennant Company (NYSE: TNC) will report its 2021 fourth quarter and full-year results on February 24, 2022, with a conference call at 10:00 a.m. Central Time. The earnings release will be available before the call at investors.tennantco.com. A taped replay and slide presentation will also be accessible afterward. Founded in 1870, Tennant is a leader in cleaning solutions, boasting sales of $1.0 billion in 2020 and a global workforce of approximately 4,300 employees.
Tennant Company (NYSE: TNC) announced a quarterly cash dividend of 25 cents per share, payable on March 15, 2022. Shareholders must be on record by the close of business on March 3, 2022. Founded in 1870 and headquartered in Eden Prairie, Minnesota, Tennant is a leader in quality cleaning solutions, focusing on reducing environmental impact. With sales of $1.0 billion in 2020 and approximately 4,300 employees, the company operates globally, providing various sustainable cleaning technologies.
Tennant Company (NYSE: TNC) has launched Inventory Scan, an innovative add-on for its robotic floor scrubbers, in partnership with Brain Corp. This technology enables autonomous scanning of retail inventory, thus enhancing operational efficiency. By integrating data collection with floor care, Inventory Scan allows retailers to minimize labor-intensive tasks and improve stock management. The solution employs advanced computer vision to capture real-time data, offering insights on pricing accuracy and product localization. The move underscores Tennant's commitment to innovation and customer-centric solutions.
Tennant Company (TNC) reported strong third-quarter results for 2021, with net sales of $272.0 million, reflecting a 4.7 percent organic growth. Net income rose significantly to $21.5 million, or $1.14 per diluted share, compared to $11.7 million the previous year. Adjusted EBITDA increased to $36.0 million, constituting 13.2 percent of sales. However, the company faced challenges from global supply disruptions, leading to a record order backlog. Despite these hurdles, Tennant remains confident in long-term growth, revising full-year guidance to net sales of $1.09 billion to $1.1 billion.
Tennant Company (NYSE: TNC) has announced a 9% increase in its quarterly cash dividend to $0.25 per share, marking the 50th consecutive year of raised annual cash dividends. The dividend will be payable on December 15, 2021, to shareholders recorded by November 30, 2021. This move reflects the company's strong capital position and management's confidence in its business outlook. Tennant aims to drive sustainable growth and enhance operational efficiencies to create long-term shareholder value.
Tennant Company (NYSE: TNC) announced it will report its third quarter results for 2021 on November 2, 2021, with a conference call scheduled for 10:00 a.m. Central Time. Investors can access the earnings release before the call at investors.tennantco.com. A replay of the conference call will also be available on the same site. Founded in 1870 and headquartered in Eden Prairie, Minnesota, Tennant Company is a leader in cleaning solutions, generating $1.0 billion in sales in 2020.
Tennant Company (NYSE: TNC) reported second-quarter results for 2021, achieving net sales of $279.1 million, a 27.5% organic growth from the previous year. Net income decreased to $9.8 million from $14.3 million, with adjusted diluted EPS at $1.18. Adjusted EBITDA of $35.1 million accounted for 12.6% of sales. Cash flow from operations was $19.4 million, significantly lower than $39.8 million in Q2 2020. The company maintained its full-year guidance, projecting net sales between $1.090 billion and $1.110 billion.
On July 28, 2021, Tennant Company (TNC) announced a quarterly cash dividend of 23 cents per share. This dividend will be payable on September 15, 2021, to shareholders recorded by the close of business on August 31, 2021. Founded in 1870 and based in Eden Prairie, Minnesota, Tennant Company is a leader in designing and manufacturing cleaning solutions, with reported sales of $1.0 billion in 2020 and around 4,300 employees. The company operates globally, selling products directly in 15 countries.
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