Tennant Co rises on higher Q1 results

Tennant

28/04/2023 17:27

** Shares of cleaning solutions provider Tennant Co  TNC.N  hit over one-year high, last up
about 11.7% at $74.41
    ** Reports Q1 adj EPS of $1.45 vs 73 cents a year earlier 
    ** Q1 net sales of $305.8 mln, up 18.5% from a year earlier
    ** Organic sales growth in the Americas driven by higher selling prices and volume increases
-co
    ** Reaffirms FY2023 outlook for net sales of $1,115 mln to $1,155 mln and Adj EBITDA of $140
mln to $160 mln
    ** Given the continued volatility of parts availability and the uncertain macro environment,
it is prudent to maintain guidance at this time - co
    ** TNC up about 20.7% YTD 

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))