Tennant Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, Tennant Co. (TNC) raised its earnings, adjusted earnings, net sales and organic net sales growth for the full-year 2024, given the strong first-half results and expectations for the remainder of the year.

For fiscal 2024, Tennant now projects adjusted earnings in a range of $6.15 to $6.55 per share on net sales between $1.280 billion and $1.305 billion, with organic net sales growth of 2.5 to 4.5 percent.

Previously, the company expected adjusted earnings in a range of $6.05 to $6.65 per share on net sales between $1.270 billion and $1.295 billion, with organic net sales growth of 2.0 to 4.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.60 per share on revenues of $1.28 billion for the year. Analysts' estimates typically exclude special items.

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