Tennant Co
NYSE:TNC

  • LAST PRICE
    92.0700
  • TODAY'S CHANGE (%)
    2.3800 (2.6536%)
  • Bid / Lots
    91.9200/ 7
  • Ask / Lots
    92.1700/ 7
  • Open / Previous Close
    90.4600 / 89.6900
  • Day Range
    90.4600
    93.0300
  • 52 Week Range
    82.5400
    124.1100
  • Volume
    44,128

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  • Nov 1, 2024

  • Oct 31, 2024

      Show headlines and story abstract

    • 4:22PM ET on Thursday Oct 31, 2024 by MT Newswires
      Companies Mentioned: TNC
      04:22 PM EDT, 10/31/2024 (MT Newswires) -- ...

    • 4:22PM ET on Thursday Oct 31, 2024 by MT Newswires
      Companies Mentioned: TNC
      04:22 PM EDT, 10/31/2024 (MT Newswires) -- ...

    • 4:22PM ET on Thursday Oct 31, 2024 by MT Newswires
      Companies Mentioned: TNC
      04:22 PM EDT, 10/31/2024 (MT Newswires) -- ...

    • 4:15PM ET on Thursday Oct 31, 2024 by Dow Jones
      Companies Mentioned: TNC
      costs (S&A expense) 0.04 -- 0.19 -- ---- ------- ---- ------ Net income per diluted share - as adjusted $1.39 $ 1.34 $5.05 $ 4.65 ---- ------- ---- ------ Reported Net Income to Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) Three Months Ended Nine Months Ended (In millions) September 30, September 30, -------------------- ---------------------- 2024 2023 2024 2023 --------- --------- ---------- ---------- Net income - as reported $20.8 $22.9 $ 77.1 $ 78.5 Less: ------------------------- Interest expense, net 2.7 3.3 7.5 11.0 Income tax expense 6.7 7.0 22.4 23.3 Depreciation expense 10.1 9.2 29.6 26.4 Amortization expense 3.6 3.5 11.4 11.0 ---- ---- ----- ----- EBITDA 43.9 45.9 148.0 150.2 ---- ---- ----- ----- Adjustments: ------------------------- Restructuring-related charge (S&A expense) -- -- 0.6 1.2 ERP modernization costs (S&A expense) 3.3 -- 9.2 -- Transaction and integration-related costs (S&A expense) 0.7 -- 3.6 -- ---- ---- ----- ----- EBITDA - as adjusted $47.9 $45.9 $161.4 $151.4 ---- ---- ----- ----- EBITDA margin - as adjusted 15.2% 15.1% 16.9% 16.2% ---- ---- ----- ----- TENNANT COMPANY SUPPLEMENTAL NON-GAAP FINANCIAL TABLES Reported to Adjusted Selling and Administrative Expense (S&A expense) and Operating Income Three Months Ended Nine Months Ended (In millions) September 30, September 30, -------------------- ---------------------- 2024 2023 2024 2023 --------- --------- ---------- ---------- S&A expense - as reported $92.7 $88.2 $275.5 $256.9 S&A expense as a percent of net sales - as reported 29.4% 28.9% 28.8% 27.6% Adjustments: ------------------------- Restructuring-related charge (S&A expense) -- -- (0.6) (1.2) ERP modernization costs (S&A expense) (3.3) -- (9.2) -- Transaction and integration-related costs (S&A expense) (0.7) -- (3.6) -- ---- ---- ----- ----- S&A expense - as adjusted $88.7 $88.2 $262.1 $255.7 ---- ---- ----- ----- S&A expense as a percent of net sales - as adjusted 28.1% 28.9% 27.4% 27.4% ---- ---- ----- ----- Operating income - as reported $30.6 $34.7 $106.7 $114.1 Operating margin - as reported 9.7% 11.4% 11.1% 12.2% Adjustments: ------------------------- Restructuring-related charge (S&A expense) -- -- 0.6 1.2 ERP modernization costs (S&A expense) 3.3 -- 9.2 -- Transaction and integration-related costs (S&A expense) 0.7 -- 3.6 -- ---- ---- ----- ----- Operating income - as adjusted $34.6 $34.7 $120.1 $115.3 ---- ---- ----- ----- Operating margin - as adjusted 11.0% 11.4% 12.5% 12.4% ---- ---- ----- ----- Reported to Adjusted Income Before Income Taxes and Income Tax Expense Three Months Ended Nine Months Ended (In millions) September 30, September 30, -------------------- ---------------------- 2024 2023 2024 2023 --------- --------- ---------- ---------- Income before income taxes - as reported $27.5 $29.9 $ 99.5 $101.8 Adjustments: ------------------------- Amortization expense 3.6 3.5 11.4 11.0 Restructuring-related charge (S&A expense) -- -- 0.6 1.2 ERP modernization costs (S&A expense) 3.3 -- 9.2 -- Transaction and integration-related costs (S&A expense) 0.7 -- 3.6 -- ---- ---- ----- ----- Income before income taxes - as adjusted $35.1 $33.4 $124.3 $114.0 ---- ---- ----- ----- Income tax expense - as reported $ 6.7 $ 7.0 $ 22.4 $ 23.3 Effective tax rate - as reported 24.4% 23.4% 22.5% 22.9% Adjustments(1) : ------------------------- Amortization expense 1.0 1.0 3.0 3.1 Restructuring-related charge (S&A expense) -- -- 0.2 0.4 ERP modernization costs (S&A expense) 0.8 -- 2.2 -- ---- ---- ----- ----- Income tax expense - as adjusted $ 8.5 $ 8.0 $ 27.8 $ 26.8 ---- ---- ----- ----- Effective tax rate - as adjusted 24.2% 24.0% 22.4% 23.5% ---- ---- ----- ----- (1) In determining the tax impact, we applied the statutory rate in effect for each jurisdiction where income or expenses were generated. TENNANT COMPANY SUPPLEMENTAL NON-GAAP FINANCIAL TABLES Free Cash Flow Conversion Three Months Ended Nine Months Ended (In millions) September 30, September 30, -------------------- ------------------------- 2024 2023 2024 2023 Net income - as reported $20.8 $22.9 $ 77.1 $ 78.5 Adjustments: ----------------- ERP modernization costs (S&A expense) 2.5 -- 7.0 -- ---- ---- ----- ----- Net income - as adjusted $23.3 $22.9 $ 84.1 $ 78.5 ---- ---- ----- ----- Cash provided by operating activities - as reported $30.7 $54.4 $ 52.2 $124.6 Less: ----------------- Capital expenditures (4.3) (3.5) (11.5) (15.3) ---- ---- ----- ----- Free cash flows $26.4 $50.9 $ 40.7 $109.3 ---- ---- ----- ----- Adjustments: ----------------- ERP modernization spend 9.4 -- 25.6 -- ---- ---- ----- ----- Free cash flows - as adjusted $35.8 $50.9 $ 66.3 $109.3 ---- ---- ----- ----- Net income to free cash flows conversion 154% 222% 79% 139% ---- ---- ----- -----

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