Financial Data and Key Metrics Changes - Second quarter net income was $16.6 million compared to $9.8 million in the prior year period, impacted by nonrecurring items [25] - Adjusted EPS for the second quarter was $0.92 per diluted share compared to $1.18 per diluted share in the prior year, primarily due to lower gross profit and higher income tax expense [26] - Net sales for the second quarter were $280.2 million, a 0.4% increase year-over-year, driven by a 4.4% organic sales increase on a constant currency basis [28] Business Line Data and Key Metrics Changes - The increase in consolidated net sales was driven by higher selling prices and growth in services, parts, and consumables [29] - Adjusted EBITDA for Q2 was $30.3 million or 10.8% of sales, down from $35.1 million or 12.6% of sales in 2021, due to lower production volumes and inflationary pressures [32] Market Data and Key Metrics Changes - Organic sales in the Americas and EMEA increased by 6.5% and 3% respectively, while APAC organic sales declined by 4.5% due to volume declines in China [29][30] - Overall demand remains strong except for China, with limited availability of certain parts constraining the ability to meet volume demands [31] Company Strategy and Development Direction - The company is focused on stabilizing its supply chain to unlock production and reduce product lead times, while also executing pricing strategies and maintaining cost discipline [15][20] - Strategic investments are being made to drive short-term improvements and long-term growth, particularly in the AMR (Autonomous Mobile Robots) program [13][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver results within the guided range despite supply chain constraints and foreign currency headwinds [37] - The company anticipates that supply chain constraints will continue to impact production but expects improvements in the third and fourth quarters [38] Other Important Information - The company reported a cash balance of $73.8 million and $279.1 million of unused borrowing capacity on its revolving credit facility, indicating strong liquidity [36] - The company is investing in solar panels to mitigate increasing energy costs and support sustainability goals [21][22] Q&A Session Summary Question: Backlog status and pricing impact - Management confirmed that backlog increased sequentially in Q2, driven by robust demand and inability to ramp production at the desired pace [45][46] - Approximately 80% of the backlog was booked in the first half of 2022, with strong price realization expected as backlog works through [50][51] Question: Supply chain visibility - Management noted a moderate change in supply chain visibility, with suppliers increasingly meeting extended lead times, but overall challenges remain [53][54] Question: Confidence in guidance amid FX headwinds - Management acknowledged the uncertainty and moving parts affecting guidance but emphasized control over certain elements and actions taken to mitigate risks [63][68] Question: Inventory and cash flow expectations - Management expects to consume inventory as plant output increases, leading to positive cash flow in the second half of the year [72][73] Question: AMR product performance and market penetration - Management expressed bullishness on AMR technology, noting significant sales and customer interest, with a focus on expanding the product portfolio [75][78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ 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 (Exact name of registrant as specified in its charter) (Stat ...

Tennant Company (NYSE:TNC) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET Company Participants Fay West - Senior VP & CFO David Huml - President and CEO Conference Call Participants Stefanos Crist - CJS Securities Stephen Ferazani - Sidoti & Company Operator Good morning, my name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to Tennant Company's 2022 First Quarter Earnings Conference Call. This call is being recorded. There will be time for ...

| --- | --- | --- | |-------|-------|-------| | | | | | | | | 2 Forward-Looking Statements & Non-GAAP Measures Certain statements contained in this document are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations or forecasts of future events. Any such expectations or forecasts of future events are subject to a variety of factors. These include facto ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ 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 (Exact name of registrant as specified in its charter) Minn ...

| --- | --- | --- | |-------|-------|-------| | | | | | | | | 2 Forward-Looking Statements & Non-GAAP Measures Certain statements contained in this document are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations or forecasts of future events. Any such expectations or forecasts of future events are subject to a variety of factors. These include facto ...

Tennant Company (NYSE:TNC) Q4 2021 Earnings Conference Call February 24, 2022 11:00 AM ET Company Participants Fay West - Senior VP & CFO David Huml - President and CEO Conference Call Participants Christopher Moore - CJS Securities Stephen Ferazani - Sidoti & Company Operator Good morning. My name is Sheryl, and I will be your conference operator today. At this time, I would like to welcome everyone to the Tennant Company's 2021 Fourth Quarter and Full Year Earnings Conference Call. [Operator Instructions] ...

TENNANT COMPANY (Exact name of registrant as specified in its charter) Minnesota 41-0572550 State or other jurisdiction of (I.R.S. Employer incorporation or organization Identification No.) 10400 Clean Street Eden Prairie, Minnesota 55344 (Address of principal executive offices) (Zip Code) 763-540-1200 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of exchange on which registered Common Stock, par va ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|--------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Earnings Release Call Third Quarter 2021 Tuesday, November 2, 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | On the Call Today Dave Huml President and CEO Fay West SVP and CFO 2 Forward-Looking Statements & Non-GAAP Measures 3 Our re ...

Tennant Company (NYSE:TNC) Q3 2021 Earnings Conference Call November 2, 2021 11:00 AM ET Company Participants William Prate - Investor Relations Dave Huml - President and CEO Fay West - SVP and CFO Conference Call Participants Chris Moore - CJS Securities Steve Ferazani - Sidoti & Company Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be ...