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Dec 31, 2021
Tennant Q4 2021 Earnings Report
Reported strong full year results and provided full year guidance.
Key Takeaways
Tennant Company reported a 1.2% increase in consolidated net sales for Q4 2021, with organic sales up by 4.5%. Net income increased by $5.4 million, reflecting lower selling and administrative and interest costs. The company faced challenges including parts availability and inflationary pressures, which impacted adjusted gross margin.
Consolidated net sales increased by 1.2% over the prior year period, reaching $276.4 million.
Organic net sales grew by 4.5%, driven by recovery from pandemic-related demand impacts.
Adjusted EBITDA grew by 11.8% to $28.4 million, with Adjusted EBITDA margin increasing 100 basis points to 10.3%.
Net income increased $5.4 million over the prior year period, reflecting lower S&A and interest costs.
Forward Guidance
Tennant provided full year 2022 guidance, anticipating an uncertain and inflationary operating environment. They expect to capitalize on long-term opportunities in the global mechanized cleaning market, fueled by a return to pre-pandemic levels of order demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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