News
Tennant Reports Rise in 4th-Quarter Sales
February 23, 2023
Tennant Co. has reported fiscal fourth-quarter net sales of US$291 million, an increase of 9.7% on an organic basis from the previous year.
The company posted a net income of $23.8 million ($1.29 per share), a 201.3% jump from $7.9 million ($0.43 per share) a year earlier. Sales in the company’s Americas division climbed 7.2% compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a dip of 9.1% in sales.
For the 2022 fiscal year, Tennant posted a net income of $66.3 million on net sales of $1.092 billion, representing 0.1% growth, or 4.2% on an organic basis.
“Our team displayed great resourcefulness and perseverance to deliver organic sales growth in 2022 as we worked to navigate macroeconomic headwinds and meet the high level of demand for our innovative products,” said Dave Huml, Tennant president and CEO. “Targeted actions executed throughout the year, specifically those to address parts shortages, began to yield material results in the fourth quarter, which enabled us to increase production and deliver higher sales and increased margins versus the third quarter and prior-year quarter.”
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.
