TENNANT CO

Tennant Company reported a significant decline in its second-quarter and first-half 2026 financial results. For Q2, net income fell 62.4% to $7.6 million, with diluted EPS at $0.44, despite a slight increase in net sales to $324.0 million. The company also reported a negative cash flow from operating activities for the first half of 2026 and increased long-term debt, while continuing share repurchases and making a minor acquisition.

Tennant Company reported mixed second quarter 2026 results, with net sales increasing 1.7% to $324.0 million, driven by order growth and robotics momentum. However, profitability declined significantly, with diluted EPS falling 59.3% to $0.44 and Adjusted EBITDA decreasing 30.8% to $35.3 million, primarily due to residual ERP inefficiencies and EMEA cost pressures. The company raised its full-year net sales guidance but lowered its full-year Adjusted EBITDA guidance, reflecting slower-than-expected margin recovery.

Tennant Company announced the appointment of Richard H. (Rusty) Zay as Chief Operating Officer, effective July 1, 2026. Mr. Zay, currently the Senior Vice President and Chief Commercial Officer, has been with the company since 2010 and has a strong track record in sales, marketing, and operations. In recognition of his increased responsibilities, he will receive incremental equity awards valued at $400,000, split between restricted stock units and performance-based restricted stock units.

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.

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.