Tennant third-quarter sales jump

Tennant Co reports fiscal third-quarter sales of US$304.7 million, an increase of 15.9 per cent.

Tennant Co. has reported fiscal third-quarter net sales of US$304.7 million, an increase of 15.9 per cent compared to consolidated net sales of $262.9 million in the third quarter of 2022.

The company posted a net income of $22.9 million ($1.21 per share), a 46.8 per cent jump from $15.6 million ($0.83 per share) a year earlier.

Sales in the company’s Americas division climbed 21.4 per cent compared to the previous year, while Tennant’s EMEA division, which covers Europe, the Middle East, and Africa, reported a 4.3 per cent bump in sales and its Asia Pacific segment saw sales increase 8 per cent.

“We are pleased to report Tennant’s strong third-quarter results, which built on the momentum in the first half of the year,” said Dave Huml, Tennant president and CEO.

“This was the fourth consecutive quarter our global team delivered organic net sales and adjusted EBITDA growth above our expectations and puts us on pace to deliver a record-setting year.

“We are proud of the teams who have worked diligently to execute our enterprise strategy, manage the supply-chain crisis, and serve Tennant’s customers around the world,” said Dave Huml, Tennant president and CEO.

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