Quarterly ResultMay 4, 2026, 05:03 PM
Tennant Q1 Net Sales +2.7% to $297.9M; EPS $0.01; Reaffirms 2026 Guidance
AI Summary
Tennant Company reported Q1 2026 financial results with net sales increasing 2.7% to $297.9 million, driven by pricing and favorable foreign currency effects, despite lower volumes in North America due to ERP impacts. Net income significantly declined by 98.5% to $0.2 million, and diluted EPS fell to $0.01, primarily due to ERP recovery costs and lower gross margins. However, orders increased 10% year-over-year, and the company reaffirmed its full-year 2026 guidance, noting sequential operational improvement as ERP stabilization progressed.
Key Highlights
- Net sales increased 2.7% year-over-year to $297.9 million.
- Net income decreased 98.5% to $0.2 million, with diluted EPS at $0.01.
- Adjusted diluted EPS was $0.58, a 48.2% decline from the prior year.
- Orders grew 10% year-over-year to $327 million, reflecting strong demand.
- Americas organic sales declined 3.0%, EMEA grew 1.0%, and APAC declined 2.0%.
- The company reaffirmed its full-year 2026 guidance for net sales and adjusted EPS.
- Returned $60 million to shareholders through share repurchases and $5.5 million in dividends.
- Adjusted EBITDA decreased 29.0% to $29.1 million, with a margin of 9.8%.