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Mar 31, 2021
Tennant Q1 2021 Earnings Report
Tennant's first quarter results for 2021 were reported, with the company raising its full-year guidance.
Key Takeaways
Tennant Company reported a strong first quarter with net sales of $263.3 million, a 3.1 percent organic increase, and net income of $25.7 million, or $1.37 per diluted share. The company raised its full-year guidance for net sales, adjusted EBITDA, and EPS.
Net sales reached $263.3 million, a 3.1 percent increase organically.
Net income for the first quarter was $25.7 million, or $1.37 diluted earnings per share.
Adjusted EBITDA was $40.7 million, representing 15.5 percent of sales.
The company raised its 2021 guidance for net sales, adjusted EBITDA, and EPS.
Revenue by Geographic Location
Forward Guidance
Tennant raised its full-year guidance based on strong first-quarter performance and optimism for market recovery.
Positive Outlook
- Net sales of $1.090 billion to $1.110 billion, reflecting organic sales growth of 9 to 11 percent.
- Full-year reported GAAP earnings in the range of $3.45 to $3.85 per diluted share.
- Adjusted EPS of $4.10 to $4.50 per diluted share, which excludes certain non-operational items and amortization expense.
- Adjusted EBITDA of $140 million to $150 million.
- Adjusted effective tax rate of approximately 20 percent, which excludes the amortization expense adjustment.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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