Every material Form 8-K Tennant has filed with the SEC since May 16, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Tennant reported third-quarter 2026 net sales of $322.3 million, up 6.2% from a year earlier, and GAAP net income of $19.5 million, up from $14.9 million. Adjusted EBITDA fell 2.0% to $48.8 million, and adjusted diluted EPS declined 4.1% to $1.40, as cost pressures and higher operating spending offset higher volume and pricing. The company reaffirmed its full-year 2026 guidance, which keeps net sales at $1,270 million to $1,310 million.
Net sales $322.3 million, up 6.2%; organic growth 5.7%, with volume up 4.1 points and price up 1.6 points
Adjusted EBITDA $48.8 million, a 15.1% margin, versus $49.8 million and 16.4% a year earlier
GAAP net income $19.5 million and diluted EPS $1.12, versus $14.9 million and $0.80; adjusted diluted EPS $1.40 versus $1.46
2026 guidance reaffirmed: net sales $1,270 million to $1,310 million; adjusted diluted EPS $3.80 to $4.45; backlog about $118 million
Tennant reported second-quarter 2026 net sales of $324.0 million, up 1.7%, while adjusted EBITDA fell 30.8% to $35.3 million and net income fell to $7.6 million from $20.2 million. The company raised full-year net sales guidance to $1.270 billion to $1.310 billion but lowered full-year adjusted EBITDA guidance to $155 million to $170 million, citing slower margin recovery. For shareholders, sales growth was offset by weaker profitability and lower operating cash flow.
Diluted EPS was $0.44 versus $1.08 a year earlier; adjusted diluted EPS was $0.83 versus $1.49.
Adjusted EBITDA margin was 10.9% versus 16.0%, and gross profit margin was 39.5%, down 260 basis points.
Full-year net sales guidance was raised to $1.270 billion to $1.310 billion; adjusted EBITDA guidance was lowered to $155 million to $170 million.
Operating cash flow was $5.0 million in the quarter, down $17.5 million; the company will hold a conference call on August 6, 2026.
Tennant Company said Chief Financial Officer Fay West has given notice she will retire after a successor is hired and a transition period occurs, with retirement expected in the second quarter of 2027 and no earlier than April 2, 2027. The company has started searching for a successor and aims to name one by the first quarter of 2027, so shareholders get a long runway for the handover.
Fay West gave notice on July 27, 2026, of her intention to retire as SVP and Chief Financial Officer
Retirement expected in the second quarter of 2027, no earlier than April 2, 2027
Company aims to name a successor by the first quarter of 2027
CEO Dave Huml thanked West for her role in financial discipline and the company's growth strategy
Tennant Company appointed Richard H. (Rusty) Zay, its Senior Vice President and Chief Commercial Officer, as Chief Operating Officer effective July 1, 2026. The company said the promotion expands his responsibilities to include customer-facing business units, supply chain, manufacturing, R&D and marketing, and granted him $400,000 in incremental equity awards.
Richard H. (Rusty) Zay, age 55, named Chief Operating Officer effective July 1, 2026
Zay has been Chief Commercial Officer since March 2021 and joined Tennant in June 2010
Incremental equity awards valued at $400,000, split 50% restricted stock units and 50% performance-based restricted stock units
Zay's new role covers global customer-facing units, supply chain, manufacturing operations, R&D and marketing
Tennant reported first-quarter 2026 net sales of $297.9 million, up 2.7% from a year earlier, but net income fell to $0.2 million from $13.1 million and adjusted diluted EPS fell to $0.58 from $1.12. The company reaffirmed its full-year 2026 guidance, which includes net sales of $1,240 million to $1,280 million and adjusted diluted EPS of $4.70 to $5.30, while lower margins tied to ERP recovery weighed on profit.
Net sales were $297.9 million, up 2.7%, while organic sales declined 1.9%.
Net income was $0.2 million, or $0.01 per diluted share, versus $13.1 million, or $0.69, a year earlier.
Adjusted EBITDA was $29.1 million, with a 9.8% margin, versus $41.0 million and 14.1% a year earlier.
Full-year 2026 guidance was reaffirmed, including adjusted diluted EPS of $4.70 to $5.30.
Tennant Company disclosed that Barb Balinski, its Senior Vice President and Chief Transformation Officer, gave notice on February 26, 2026 of her intention to retire on September 3, 2026. The filing does not name a successor or describe any change to company results or guidance.
Barb Balinski, age 62, is Senior Vice President and Chief Transformation Officer.
She gave notice on February 26, 2026 of her intention to retire.
Tennant Company reported fourth-quarter and full-year 2025 results with a fourth-quarter net loss of $4.4 million, tied to disruption from its North America ERP system go-live. Full-year 2025 net sales and adjusted EBITDA came in below the company's prior guidance ranges, and net income fell 47.7% from 2024. The company also forecast 2026 net sales of $1,240 million to $1,280 million and expects margins to improve gradually through the year, with a weaker first quarter.
Q4 2025 net sales were $291.6 million, down 11.3% from $328.9 million; net loss was $4.4 million, or $0.23 per diluted share, versus net income of $6.6 million a year earlier
Full-year 2025 net sales of $1,203.5 million fell below the $1.21 billion to $1.25 billion guidance range; adjusted EBITDA of $167.4 million fell below the $196 million to $209 million range
The company estimates the ERP disruption reduced Q4 2025 net sales by roughly $30 million and adjusted EBITDA by about $22 million
2026 guidance includes net sales of $1,240 million to $1,280 million and diluted EPS of $4.05 to $4.65; a two-week manufacturing shutdown in early January will significantly affect first-quarter sales and costs
Tennant entered a cooperation agreement with Vision One Fund, LP and affiliates on February 12, 2026, adding Patrick E. Allen and James T. Glerum, Jr. to its board and committing to declassify the board. The deal sets standstill and voting terms that run until the expiration date tied to the 2027 annual meeting, and it does not report any financial results.
Patrick E. Allen appointed as a Class II director, with a term expiring at the 2027 annual meeting; Vision One recommended him as a candidate.
James T. Glerum, Jr. appointed as a Class III director, with a term expiring at the 2028 annual meeting; he retired as Vice Chairman, Investment Banking at Citigroup in July 2024.
Board will not increase beyond eleven directors until the 2027 annual meeting announcement; by the earlier of the 2027 annual meeting or sixteen months after the agreement, the company will seek approval to declassify the board.
Both new directors join the Executive Committee effective February 12, 2026, and the Audit Committee effective March 1, 2026; the 2026 annual meeting is expected April 29, 2026.
Tennant reported third quarter 2025 net sales of $303.3 million, down 4.0% from a year earlier, while GAAP net income fell 28.4% to $14.9 million. Adjusted diluted EPS rose 5.0% to $1.46, and the company reaffirmed its full-year net sales and Adjusted EBITDA ranges but now expects organic growth marginally below its prior range, with Adjusted EBITDA toward the low end of $196 million to $209 million.
Q3 net sales of $303.3 million fell 4.0%, with a 5.4% organic decline driven mainly by volume in the Americas.
GAAP diluted EPS was $0.80 versus $1.09, while adjusted diluted EPS was $1.46 versus $1.39.
Adjusted EBITDA rose 4.0% to $49.8 million, and the margin widened 120 basis points to 16.4%.
2025 guidance: net sales $1.210 billion to $1.250 billion reaffirmed; organic growth now projected marginally below the prior (1)% to (4)% range.
Tennant reported second-quarter 2025 net sales of $318.6 million, down 3.7% from a year earlier, and net income of $20.2 million, down 27.6%. Diluted EPS was $1.08 versus $1.45, and the company reaffirmed its 2025 guidance. The company attributed the decline mainly to lapping a $26 million backlog-reduction benefit in the prior-year quarter, while order rates rose 4.0%.
Net sales of $318.6 million, down 3.7%, with an organic decline of 4.5%
Adjusted EBITDA of $51.0 million versus $58.6 million a year earlier; margin 16.0%, down 170 basis points
Order rates increased 4.0% compared with the second quarter of 2024
2025 guidance reaffirmed: net sales of $1,210 million to $1,250 million and diluted EPS of $3.80 to $4.30
Tennant Company reported first-quarter 2025 results, with net sales of $290.0 million, down 6.8% from a year earlier, and net income of $13.1 million, down 53.9%. The company reaffirmed its full-year 2025 guidance, which matters to shareholders because the quarter's profit decline came as the prior-year quarter included a $50 million backlog-reduction benefit.
Net sales were $290.0 million, down 6.8%, with a 5.0% organic decline driven by volume.
Diluted EPS was $0.69 versus $1.49; adjusted diluted EPS was $1.12 versus $1.81.
Adjusted EBITDA was $41.0 million, down 25.3%, and the adjusted EBITDA margin was 14.1%, down 360 basis points.
The company reaffirmed 2025 guidance, including net sales of $1,210 to $1,250 million and diluted EPS of $3.80 to $4.30.
Tennant reported record full-year 2024 net sales of $1.29 billion, up 3.5%, but net income fell 23.6% to $83.7 million and diluted EPS fell 24.9% to $4.38. The company's 2025 guidance projects net sales of $1.21 billion to $1.25 billion and an organic sales decline of 1% to 4%, which shareholders will weigh against the weaker profit trend.
Full-year 2024 net sales rose 3.5% to $1,286.7 million; diluted EPS fell to $4.38 from $5.83.
Fourth-quarter net income was $6.6 million, down 78.7%, and included $10.3 million of legal contingency costs.
2025 guidance: net sales of $1,210 million to $1,250 million, organic net sales decline of 1% to 4%, and diluted EPS of $3.80 to $4.30.
Full-year adjusted EBITDA rose 8.2% to $208.8 million, with a 16.2% margin.
Tennant Company reported third quarter 2024 net sales of $315.8 million, up 3.6% from a year earlier, and adjusted diluted EPS of $1.39, up 3.7%. GAAP net income fell 9.2% to $20.8 million and GAAP diluted EPS fell 9.9% to $1.09, while the company affirmed its 2024 guidance, so shareholders see higher sales and adjusted earnings alongside lower reported profit.
Net sales were $315.8 million, up 3.6%, or 2.7% organically; Americas organic sales rose 4.6% while EMEA fell 0.8% and APAC fell 4.3%.
GAAP diluted EPS was $1.09 versus $1.21 a year earlier; adjusted diluted EPS was $1.39 versus $1.34.
Adjusted EBITDA was $47.9 million, up 4.4%, and operating cash flow was $30.7 million, down $23.7 million from the prior-year period.
The company affirmed 2024 guidance, including net sales of $1,280 million to $1,305 million and adjusted diluted EPS of $6.15 to $6.55.
Tennant Company reported second-quarter 2024 net sales of $331.0 million, up 2.9% from a year earlier, while net income fell 10.9% to $27.9 million and diluted EPS fell to $1.45 from $1.68. The company raised its full-year 2024 guidance, with net sales now expected at $1,280 million to $1,305 million and Adjusted EBITDA at $205 million to $215 million.
Q2 2024 net sales were $331.0 million, up 2.9%, or 2.7% organic; Asia Pacific sales fell 13.5%.
Net income was $27.9 million versus $31.3 million, and diluted EPS was $1.45 versus $1.68; the company cited ERP modernization and transaction and integration costs.
Adjusted diluted EPS was $1.83 versus $1.86 a year earlier, and Adjusted EBITDA was $58.6 million, up 1.7%.
Updated 2024 guidance: net sales $1,280 million to $1,305 million (previously $1,270 million to $1,295 million); Adjusted EBITDA $205 million to $215 million (previously $198 million to $213 million).
Tennant Company entered a Second Amended and Restated Credit Agreement with JPMorgan Chase Bank as administrative agent, providing a senior secured revolving facility of up to $650 million through August 7, 2029. The facility can be expanded by up to $325 million and is secured by substantially all of the company's personal property and pledged subsidiary stock, which adds lender-related obligations and covenants that shareholders should note.
Revolving facility up to $650 million, maturing August 7, 2029, with an option to expand by up to $325 million
Borrowings in U.S. dollars priced off prime rate, NYFRB Rate or Adjusted Term SOFR, with spreads depending on leverage ratio
Covenants include a maximum indebtedness to EBITDA ratio of 3.75 to 1.00 and a minimum EBITDA to interest expense ratio of 3.00 to 1
Dividends and stock repurchases are limited when leverage exceeds 2.50 to 1, capped at the greater of 10% of consolidated total assets and $100 million per fiscal year
Tennant Company elected Mark W. Sheahan, President and CEO of Graco Inc., to its Board of Directors effective May 15, 2024, and appointed him to the Audit and Executive Committees. The filing describes a board appointment with standard non-employee director compensation, not a change in financial results or guidance.
Board elected Mark W. Sheahan on May 13, 2024, effective May 15, 2024
Sheahan joins the Audit Committee and Executive Committee and will stand for re-election at the 2025 annual meeting as a Class II director
He will receive standard non-employee director compensation, pro-rated from election until the 2025 annual meeting, as disclosed in the March 21, 2024 proxy statement
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