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Dec 31, 2022
Tennant Q4 2022 Earnings Report
Tennant Company reported a net income of $23.8 million and net sales of $291.0 million, representing a 5.3% growth.
Key Takeaways
Tennant Company reported a 5.3% increase in net sales, reaching $291.0 million, and a significant rise in net income to $23.8 million for the fourth quarter of 2022. The company's adjusted EBITDA also saw a substantial increase to $41.7 million.
Net sales increased by 5.3% to $291.0 million, with organic growth of 9.7%.
Net income rose to $23.8 million, a 201.3% increase compared to the prior-year quarter.
Adjusted EBITDA reached $41.7 million, representing 14.3% of sales.
The company announces full year 2023 guidance; adjusted net income of $3.70 to $4.50 per diluted share and adjusted EBITDA of $140 million to $160 million
Revenue by Geographic Location
Forward Guidance
Tennant Company provides full year 2023 guidance with adjusted net income per share between $3.70 and $4.50 and adjusted EBITDA between $140 million and $160 million.
Positive Outlook
- Net sales between $1,115 million and $1,155 million.
- Organic net sales growth between 3.0% and 7.0%.
- Adjusted diluted net income per share between $3.70 and $4.50.
- Adjusted EBITDA between $140 million and $160 million.
- Capital expenditures between $20 million and $25 million.
Challenges Ahead
- Adjusted effective tax rate between 20% and 25%.
- Geopolitical and economic uncertainty throughout the world.
- Uncertainty surrounding the impacts and duration of the COVID-19 pandemic.
- Fluctuations in the cost, quality or availability of raw materials and purchased components.
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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