Tennant Co. has reported fiscal-second-quarter sales of US$280.2 million, a rise of 4.4 per cent on an organic basis from the previous year.
The company posted a net income of $16.6 million ($0.90 per share), up from $9.8 million ($0.53 per share) a year earlier.
Sales in the company’s Americas division climbed 6.7 per cent compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a slight dip of 9.3 per cent in sales.
Organic sales in APAC declined approximately 4.5 per cent, primarily due to volume declines in China as local shutdowns related to the COVID-19 pandemic continued to impact demand. This was partially offset by increased sales in equipment and parts and consumables in Australia.
“We are pleased to report that, as a result of the many actions we have taken to overcome parts shortages and to offset inflationary pressures, we achieved sequentially higher sales and stabilised profitability,” said Dave Huml, Tennant CEO.
“Overall demand for our products and services remains strong, and we continue to take action to increase production output to serve our customers.”
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