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Jun 30, 2021
Tennant Q2 2021 Earnings Report
Reported a strong second quarter with organic sales growth and adjusted EPS exceeding the prior year.
Key Takeaways
Tennant Company reported a strong second quarter with net sales of $279.1 million, a 27.5% increase organically. Net income was $9.8 million, or $0.51 per diluted share, while adjusted diluted EPS was $1.18. The company affirmed its full-year 2021 guidance.
Second-quarter net sales reached $279.1 million, reflecting a 27.5 percent organic increase.
Net income for the second quarter was $9.8 million, equating to $0.51 per diluted share.
Adjusted diluted earnings per share were $1.18, surpassing the $0.96 reported in the second quarter of 2020.
Adjusted EBITDA for the second quarter amounted to $35.1 million, representing 12.6 percent of sales.
Revenue by Geographic Location
Forward Guidance
Tennant affirms the following guidance ranges for 2021: 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; Adjusted EBITDA of $140 million to $150 million; Capital expenditures of approximately $20 million; and An adjusted effective tax rate of approximately 20 percent.
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
- Adjusted EBITDA of $140 million to $150 million
- Capital expenditures of approximately $20 million
Challenges Ahead
- Challenging supply chain
- Operations environment
- Material inflation
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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