Tennant Increases 3rd-Quarter SalesOctober 27, 2022
The company posted a net income of $15.6 million ($0.84 per share), down from $21.5 million ($1.16 per share) a year earlier. Sales in the company’s Americas division climbed 4.4% compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a decline of 14.5% in sales.
“Our third quarter results reflect our commitment to maintain profitability in the current operating environment,” said Dave Huml, Tennant CEO. “Macroeconomic headwinds, including foreign currency volatility, persisted during the quarter, and we anticipate this environment will continue to impact results. We continue to execute on various strategic actions and make targeted investments to overcome supply chain disruptions and address our backlog of approximately $280 million.”
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.