News
Tennant 3rd-Quarter Sales Jump 15%
October 31, 2023
Tennant Co. has reported fiscal third-quarter net sales of US$304.7 million, an increase of 15.9% compared to consolidated net sales of $262.9 million in the third quarter of 2022.
The company posted a net income of $22.9 million ($1.21 per share), a 46.8% jump from $15.6 million ($0.83 per share) a year earlier. Sales in the company’s Americas division climbed 21.4% compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a 4.3% bump in sales and its Asia Pacific segment saw sales increase 8%.
“We are pleased to report Tennant’s strong third-quarter results, which built on the momentum in the first half of the year. This was the fourth consecutive quarter our global team delivered organic net sales and adjusted EBITDA growth above our expectations and puts us on pace to deliver a record-setting year. We are proud of the teams who have worked diligently to execute our enterprise strategy, manage the supply-chain crisis, and serve Tennant’s customers around the world,” said Dave Huml, Tennant president and CEO.
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.
