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Tennant 1st-Quarter Sales Jump 18.5%

Tennant Co. has reported record fiscal first-quarter net sales of US$305.8 million, an increase of 18.5% compared to consolidated net sales of $258.1 million in the first quarter of 2022.

The company posted a net income of $24.3 million ($1.32 per share), a 135.9% jump from $10.3 million ($0.56 per share) a year earlier. Sales in the company’s Americas division climbed 27.5% compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a 4.3% rise in sales and its Asia Pacific segment saw sales increase 1.4%.

“Our strong first quarter performance and increase in volume is the direct result of the actions we have taken over the past several quarters to address parts availability and offset inflation,” said Dave Huml, Tennant president and CEO. “Our global team continues to book orders and service customers, and in the first quarter we were able to deliver growth in all major geographies. I am very proud of the way our team has adapted to the challenges we’ve faced and capitalized on our opportunities.”

About Tennant 
Tennant Co. is a manufacturer of equipment for maintaining surfaces in industrial, commercial, and outdoor environments as well as surface coatings for concrete floors. Tennant sells products directly in 15 countries and through distributors in more than 80 countries. For more information, visit www.tennantco.com.