Tennant Q3 sales rise 6.2% on higher volumes
Tennant Q3 sales rise 6.2% on higher volumes
Overview
U.S. cleaning equipment maker's Q3 net sales rose 6.2% yr/yr but missed analyst expectations
Adjusted EPS for Q3 beat analyst expectations, despite yr/yr decline
Company reaffirmed full-year 2026 guidance amid strong orders and robotics sales momentum
Outlook
Tennant sees 2026 net sales between $1.27 bln and $1.31 bln
Company expects 2026 adj diluted EPS of $3.80 to $4.45
Tennant forecasts 2026 adj EBITDA of $155 mln to $170 mln
Result Drivers
VOLUME AND PRICING - Co said Q3 sales growth was driven by higher volumes, especially in North America and robotics, and increased pricing
ROBOTICS SALES - Robotics sales rose 71% yr/yr, supported by equipment and autonomy subscriptions
COST PRESSURES - Inflationary costs and part shortages offset sales gains, impacting margins
Company press release: ID:nBw7WsXfta
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | $322.30 mln | $334.30 mln (4 Analysts) |
Q3 Adjusted EPS | Beat | $1.40 | $1.02 (3 Analysts) |
Q3 EPS |
| $1.12 |
|
Q3 Net Income |
| $19.50 mln |
|
Q3 Adjusted EBITDA Margin |
| 15.10% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Tennant Company is $90.50, about 36.2% above its October 30 closing price of $66.44
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
Reuters Recommended Reads
Nov 2 - Allison Transmission Q3 sales jump 121%, beat estimates
Oct 30 - Paul Mueller Co's Q3 net sales rise on industrial equipment demand in US
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)