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Tennant Company Up 2.47% To $67.22 After Earnings Beat

Tuesday, August 09, 2022 01:11 PM | InvestorsObserver Analysts

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Tennant Company Up 2.47% To $67.22 After Earnings Beat

Tennant Company (TNC) said before open Tuesday that it earned $0.92 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $280.2 million, beating estimates by $4 million.

In the same quarter a year ago, the company earned $1.18 per share on revenue of $279.1 million.

The stock is up 2.47% to $67.22 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 34.

Tennant Co is a manufacturer of floor cleaning equipment, wood flooring, and wood products. It operates in four geographic business units including North America; Latin America; Europe, Middle East, Africa; and Asia Pacific. The company offers products and solutions consisting of mechanized cleaning equipment, detergent-free, and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions such as financing, rental and leasing programs, and machine-to-machine asset management solutions.

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