The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. As such, the Zacks rating upgrade for Tennant is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revision ...

The price trend for Tennant (TNC) has been bearish lately and the stock has lost 11.3% over the past four weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that ma ...

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound. However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision. Here's Why TNC Could Experience a Turnaround Tennant (TNC) has been beaten down lately with too much selling pressure. While the stock has lost 11.5% over the ...

Earnings Release Call First Quarter 2024 Results May 3, 2024 SAFE HARBOR STATEMENT 2 In millions of USD, except adjusted diluted EPS Executive Summary First quarter gross margin increased 320 bps to 44.2% Reaffirm 2024 full-year guidance *Non-GAAP Measures: refer to the Appendix of this presentation for additional information and reconciliation 3 GROWTH Channel expansion and new goto-market opportunities M&A Strategy Modernize existing ERP systems and create a scalable digital infrastructure PEOPLE Above-ma ...

Tennant Company (NYSE:TNC) Q1 2024 Earnings Conference Call May 3, 2024 11:00 AM ET Company Participants Lorenzo Bassi - Vice President-Finance and Investor Relations Dave Huml - President and Chief Executive Officer Fay West - Senior Vice President and Chief Financial Officer Conference Call Participants Steve Ferazani - Sidoti Tim Moore - EF Hutton Operator Good morning. My name is Pam and I will be your conference operator today. At this time, I would like to welcome everyone to Tennant Company’s First Q ...

OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number 1-16191 __________________________________________ TENNANT COMPANY Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (Exact name of registrant as specif ...

Exhibit 99 Tennant Company Reports First Quarter 2024 Results Delivers Net Sales and Strong Net Income Growth Expands Adjusted EBITDA Margin MINNEAPOLIS, MN (May 3, 2024)—Tennant Company ("Tennant" or the "Company") (NYSE: TNC) today reported its financial results for the quarter ended March 31, 2024. | (In millions, except per share data) | | | | Three Months Ended March 31, | | | --- | --- | --- | --- | --- | --- | | | | 2024 | | 2023 | Increase | | Net sales | $ | 311.0 | $ | 305.8 | 1.7 % | | Net income ...

February 22, 2024 SAFE HARBOR STATEMENT 2 Executive Summary Full year organic sales growth of ~14% ~9% price growth and 5% volume growth $140 million backlog reduction during 2023 | --- | --- | --- | |----------------------|---------------------------------------|----------------------------| | Net Sales | Fourth-Quarter Results \nAdj. EBITDA* | Adj. Diluted EPS* | | $311.4M | $41.5M | $1.92/share | | +5.4% Organic Growth | 13.3% Adj. EBITDA Margin | +31.5% higher than Q4 2022 | *Non-GAAP Measures: refer to ...

Tennant Company (NYSE:TNC) Q4 2023 Earnings Conference Call February 22, 2024 11:00 AM ET Company Participants Lorenzo Bassi – Vice President-Finance and Investor Relations Dave Huml – President and Chief Executive Officer Fay West – Senior Vice President and Chief Financial Officer Conference Call Participants Steve Ferazani – Sidoti Tim Moore – EF Hutton Operator Good morning. My name is Brianna, and I'll be your conference operator today. At this time, I would like to welcome everyone to Tennant Compan ...

Company Operations - Tennant Company operates 11 global manufacturing locations across the Americas, EMEA, and APAC regions[16]. - The company has a diverse product portfolio including manual and mechanized cleaning equipment, sustainable cleaning technologies, and aftermarket parts[17]. - As of December 31, 2023, Tennant Company employed approximately 4,457 employees[25]. Financial Performance - Consolidated net sales in 2023 totaled $1,243.6 million, a 13.9% increase compared to $1,092.2 million in 2022[105]. - Gross profit margin improved to 42.4% in 2023 from 38.5% in 2022, reflecting a decrease in the cost of sales as a percentage of net sales[105]. - Operating income increased to $138.6 million in 2023, representing an operating margin of 11.1%, up from 8.0% in 2022[105]. - Net income for 2023 was $109.5 million, an increase of 65.0% compared to $66.3 million in 2022[105]. - Basic net income per share increased to $5.92 in 2023, up from $3.58 in 2022, demonstrating strong earnings growth[175]. - Comprehensive income for 2023 was $117.4 million, compared to $54.0 million in 2022, indicating overall financial health improvement[177]. - Total equity as of December 31, 2023, was $577.0 million, up from $470.8 million in 2022, reflecting an increase of 22.6%[183]. Research and Development - Research and development expenses are crucial for product innovation and enhancing existing product functionality[21]. - Research and development expenses increased to $36.6 million in 2023, up from $31.1 million in 2022, reflecting a commitment to innovation[105]. - Research and Development expenses were $36.6 million in 2023, representing 2.9% of net sales, remaining nearly flat compared to 2022[114]. Market and Competitive Environment - The company faces potential adverse impacts from geopolitical tensions and public health epidemics, which have historically affected economic markets and supply chains[48]. - Competitive pressures and macroeconomic factors, such as inflation, may hinder the company's ability to achieve pricing targets, affecting demand and gross margins[50]. - The company is at risk of losing market share if it cannot compete effectively with lower-priced products from competitors, which could lead to declines in sales volume and revenues[51]. Supply Chain and Cost Management - The company has experienced cost inflation and supply constraints for raw materials, prompting local manufacturing and sourcing strategies[19]. - Supply chain disruptions and increased costs of raw materials and labor could negatively impact operating results and financial condition[54]. - The company continues to adapt to supply chain challenges by employing local-for-local manufacturing strategies to contain costs[100]. - The company is focused on mitigating future raw material cost increases through supplier negotiations and supply chain optimization[148]. Employee and Governance - Women represent 50% of the executive management team and 33% of the Board of Directors as of December 31, 2023[33]. - The most recent gender wage gap assessment indicated that the median total income for females was 99.6% of that for males, suggesting no significant gender pay gap[34]. Shareholder Returns - The company paid cash dividends for 79 consecutive years, with a 2023 annual cash dividend payout of $1.075 per share, a $0.06 increase over 2022[90]. - During the twelve months ended December 31, 2023, the company repurchased 290,920 shares of its common stock for $21.7 million[91]. - The company has a repurchase program authorized by the Board of Directors, allowing the repurchase of up to 821,413 shares of common stock[203]. Risk Management - Cybersecurity threats pose risks to critical data and business operations, potentially resulting in financial loss and reputational damage[65]. - The company has not encountered any cybersecurity incidents that materially impaired its operations or financial standing[78]. - Increased compliance costs and legal risks arise from the complex international regulatory environment, potentially eroding profit margins[49]. Asset and Liability Management - Cash, cash equivalents, and restricted cash totaled $117.1 million at December 31, 2023, compared to $77.4 million at the end of 2022[122]. - The effective tax rate decreased to 11.6% in 2023 from 16.6% in 2022, primarily due to nonrecurring tax items[118]. - The company reported a decrease in long-term debt to $194.2 million in 2023 from $295.1 million in 2022, reflecting improved financial leverage[179]. International Operations - Net sales in the Americas reached $840.3 million in 2023, a 19.0% increase from 2022, with organic sales growing 18.9% driven by price realization and increased volume[108]. - EMEA net sales were $314.4 million in 2023, up 4.2% from 2022, with organic sales growth of 2.6% despite lower volumes due to weaker market conditions[109]. - APAC net sales totaled $88.9 million in 2023, a 5.0% increase from 2022, with organic sales growing 8.6% driven by price realization and volume increases in Australia and China[110].