News
Tennant Increases 1st-Quarter Sales
May 6, 2024
Tennant Co. has reported fiscal first-quarter net sales of US$311 million, an increase of 1.7% compared to consolidated net sales of $305.8 million in the first quarter of 2023.
The company posted a net income of $28.4 million ($1.49 per share), a 16.9% increase from $24.3 million ($1.30 per share) a year earlier. Sales in the company’s Americas division rose 5.5% compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a 6.5% decrease in sales. Its Asia Pacific segment saw sales decline 3.6%.
“Building on the momentum and success from 2023, we are pleased to deliver a strong first quarter performance,” said Dave Huml, Tennant president and CEO. “Our multi-year investments to drive core growth and launch innovative new products have helped position us well to begin the execution of our new enterprise strategy, including growth through acquisitions.”
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 tennantco.com.
