Tennant(US:TNC)2024-08-08 15:43Financial Performance - Second quarter net sales reached $331 million, with organic net sales growth of 2.7% driven by price increases across all regions[3] - Adjusted EBITDA for the second quarter increased by 1.7% to a record $58.6 million, resulting in an Adjusted EBITDA Margin of 17.7%[3] - Second quarter net income was $27.9 million, compared to $31.3 million in the prior year[10] - Adjusted EPS for the second quarter was $1.83 per diluted share, a decrease of (1.6)% compared to Q2 2023[3] Guidance and Outlook - The company is raising its full-year 2024 guidance for net sales to $1.28 billion - $1.305 billion and Adjusted EBITDA to $205 million - $215 million[3] - Organic net sales growth for the full year is now expected to be between 2.5% and 4.5%[16] - Adjusted EBITDA margin for the full year is projected to be between 16.0% and 16.5%[16] Regional Performance - Americas region experienced net sales growth of 5.5%[12] - EMEA region saw a slight decrease in net sales of -0.3%[12] - APAC region experienced a decrease in net sales of -11.9%[12] Capital Allocation - Total debt increased to $213 million in Q2 2024 from $201 million at the end of 2023[14] - Net leverage ratio increased to 0.61x in Q2 2024 from 0.43x at the end of 2023[14] - Revolver availability remains strong at $321.8 million[14]