Quarterly ResultMay 5, 2026, 03:06 PM
Tennant Q1 Net Income Plunges 98.5% to $0.2M; Sales Up 2.7%
AI Summary
Tennant Company reported a significant decline in Q1 2026 net income, falling 98.5% to $0.2 million, with diluted EPS dropping to $0.01. This occurred despite a 2.7% increase in net sales to $297.9 million. The company also completed the acquisition of Clean Machine for $7.7 million and incurred $0.3 million in restructuring costs. Net cash used in operating activities increased to $31.2 million, and long-term debt rose to $358.3 million.
Key Highlights
- Net income plunged 98.5% to $0.2 million in Q1 2026 from $13.1 million in Q1 2025.
- Diluted EPS decreased 98.6% to $0.01 in Q1 2026 from $0.69 in Q1 2025.
- Net sales rose 2.7% to $297.9 million in Q1 2026 from $290.0 million in Q1 2025.
- Operating income decreased 75% to $4.9 million in Q1 2026 from $19.6 million in Q1 2025.
- Acquired Clean Machine for $7.7 million on February 2, 2026, expanding EMEA presence.
- Net cash used in operating activities was $31.2 million in Q1 2026, compared to $0.4 million in Q1 2025.
- Repurchased $60.0 million of common stock in Q1 2026, up from $20.2 million in Q1 2025.
- Long-term debt increased to $358.3 million as of March 31, 2026, from $273.2 million.
Price Impact
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