Tennant Co
NYSE:TNC

  • LAST PRICE
    93.6400
  • TODAY'S CHANGE (%)
    1.1800 (1.2762%)
  • Bid / Lots
    93.0800/ 1
  • Ask / Lots
    94.1900/ 1
  • Open / Previous Close
    92.3000 / 92.4600
  • Day Range
    92.3000
    94.6100
  • 52 Week Range
    72.8100
    124.1100
  • Volume
    101,388

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  • Aug 8, 2024

      Show headlines and story abstract

    • 9:56AM ET on Thursday Aug 08, 2024 by MT Newswires
      Companies Mentioned: TNC
      09:56 AM EDT, 08/08/2024 (MT Newswires) -- Tennant Company (TNC) shares fell 2% in recent trading Thursday after reporting Q2 adjusted earnings Thursday of $1.83 per diluted share, compared with $1.86 a year earlier. Two analysts surveyed by Capital...

    • 8:47AM ET on Thursday Aug 08, 2024 by MT Newswires
      Companies Mentioned: TNC
      08:47 AM EDT, 08/08/2024 (MT Newswires) -- ...

    • 8:47AM ET on Thursday Aug 08, 2024 by MT Newswires
      Companies Mentioned: TNC
      08:47 AM EDT, 08/08/2024 (MT Newswires) -- ...

    • 8:46AM ET on Thursday Aug 08, 2024 by MT Newswires
      Companies Mentioned: TNC
      08:46 AM EDT, 08/08/2024 (MT Newswires) -- ...

    • 8:45AM ET on Thursday Aug 08, 2024 by Dow Jones
      Companies Mentioned: TNC
      Net income - as reported $27.9 $31.3 $ 56.3 $ 55.6 Less: ------------------------- Interest expense, net 2.5 4.0 4.8 7.7 Income tax expense 9.0 8.6 15.7 16.3 Depreciation expense 9.9 8.9 19.5 17.2 Amortization expense 3.9 3.6 7.8 7.5 ---- ---- ---- --- ----- ---- ----- --- EBITDA 53.2 56.4 104.1 104.3 ---- ---- ---- --- ----- ---- ----- --- Adjustments: ------------------------- Restructuring-related charge (S&A expense) 0.6 1.2 0.6 1.2 ERP modernization costs (S&A expense) 3.4 -- 5.9 -- Transaction and integration-related costs (S&A expense) 1.4 -- 2.9 -- ---- ---- ---- --- ----- ---- ----- --- EBITDA - as adjusted $58.6 $57.6 $113.5 $105.5 ---- ---- ---- --- ----- ---- ----- --- EBITDA margin - as adjusted 17.7% 17.9% 17.7% 16.8% ---- --- ---- ----- --- ----- TENNANT COMPANY SUPPLEMENTAL NON-GAAP FINANCIAL TABLES Reported to Adjusted Selling and Administrative Expense (S&A expense) and Operating Income Three Months Ended June (In millions) 30, Six Months Ended June 30, ----------------------- ------------------------- 2024 2023 2024 2023 ----------- ---------- ------------ ----------- S&A expense - as reported $92.9 $87.0 $182.8 $168.7 S&A expense as a percent of net sales - as reported 28.1% 27.0% 28.5% 26.9% Adjustments: ------------------------- Restructuring-related charge (S&A expense) (0.6) (1.2) (0.6) (1.2) ERP modernization costs (S&A expense) (3.4) -- (5.9) -- Transaction and integration-related costs (S&A expense) (1.4) -- (2.9) -- ---- --- ---- --- ----- --- ----- --- S&A expense - as adjusted $87.5 $85.8 $173.4 $167.5 ---- ---- ---- --- ----- ---- ----- --- S&A expense as a percent of net sales - as adjusted 26.4% 26.7% 27.0% 26.7% ---- --- ---- ----- --- ----- Operating income - as reported $38.6 $43.5 $ 76.1 $ 79.4 Operating margin - as reported 11.7% 13.5% 11.9% 12.7% Adjustments: ------------------------- Restructuring-related charge (S&A expense) 0.6 1.2 0.6 1.2 ERP modernization costs (S&A expense) 3.4 -- 5.9 -- Transaction and integration-related costs (S&A expense) 1.4 -- 2.9 -- ---- ---- ---- --- ----- ---- ----- --- Operating income - as adjusted $44.0 $44.7 $ 85.5 $ 80.6 ---- ---- ---- --- ----- ---- ----- --- Operating margin - as adjusted 13.3% 13.9% 13.3% 12.8% ---- --- ---- ----- --- ----- TENNANT COMPANY SUPPLEMENTAL NON-GAAP FINANCIAL TABLES Reported to Adjusted Income Before Income Taxes and Income Tax Expense Three Months Ended June Six Months Ended June (In millions) 30, 30, ----------------------- ----------------------- 2024 2023 2024 2023 ----------- ---------- ----------- ---------- Income before income taxes - as reported $36.9 $39.9 $72.0 $71.9 Adjustments: ------------------------- Amortization expense 3.9 3.6 7.8 7.5 Restructuring-related charge (S&A expense) 0.6 1.2 0.6 1.2 ERP modernization costs (S&A expense) 3.4 -- 5.9 -- Transaction and integration-related costs (S&A expense) 1.4 -- 2.9 -- ---- ---- ---- --- ---- ---- ---- --- Income before income taxes - as adjusted $46.2 $44.7 $89.2 $80.6 ---- ---- ---- --- ---- ---- ---- --- Income tax expense - as reported $ 9.0 $ 8.6 $15.7 $16.3 Effective tax rate - as reported 24.4% 21.6% 21.8% 22.7% Adjustments(1) : ------------------------- Amortization expense 1.0 1.0 2.0 2.1 Restructuring-related charge (S&A expense) 0.2 0.4 0.2 0.4 ERP modernization costs (S&A expense) 0.8 -- 1.4 -- ---- ---- ---- --- ---- ---- ---- --- Income tax expense - as adjusted $11.0 $10.0 $19.3 $18.8 ---- ---- ---- --- ---- ---- ---- --- Effective tax rate - as adjusted 23.8% 22.4% 21.6% 23.3% ---- --- ---- ---- --- ---- (1) In determining the tax impact, we applied the statutory rate in effect for each jurisdiction where income or expenses were generated. Reported to Free Cash Flows Three Months Ended Six Months Ended (In millions) June 30, June 30, -------------------- -------------------- 2024 2023 2024 2023 --------- --------- --------- --------- Cash provided by operating activities - as reported $18.6 $39.1 $21.5 $ 70.2 Less: ----------------- Capitalized expenditures (4.2) (5.0) (7.2) (11.8) ---- ---- ---- ----- Free cash flows $14.4 $34.1 $14.3 $ 58.4 ---- ---- ---- ----- Adjustments: ----------------- ERP modernization spend 9.0 -- 16.2 -- ---- ---- ---- ----- Free cash flows - as adjusted $23.4 $34.1 $30.5 $ 58.4 ---- ---- ---- -----

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