Tennant Q3 Net Sales Climb 6.2% as Adjusted EPS Falls 4.1%

Tennant Company’s net sales rose 6.2% to $322.3 million in the third quarter, while adjusted diluted earnings per share fell 4.1% to $1.40 as orders were up and robotics sales increased.

For the quarter ended Sept. 30, net sales were up from $303.3 million a year earlier. Volume contributed 4.1 percentage points to the increase, while pricing contributed 1.6 percentage points.

Net income totaled $19.5 million, compared with $14.9 million a year earlier. Diluted earnings per share under generally accepted accounting principles rose to $1.12 from $0.80. Adjusted diluted EPS was $1.40, down from $1.46.

Adjusted EBITDA was $48.8 million, compared with $49.8 million a year earlier. Its margin narrowed to 15.1% from 16.4%, a decline of 130 basis points.

Orders were up 9.5% from a year earlier. Robotics sales rose 71% to about $37.3 million, and backlog was approximately $118 million at quarter-end. Parts availability in North America constrained shipments, while demand in EMEA and APAC was softer.

“Our third quarter performance demonstrated strong momentum across the business, with orders up 9.5%,” Tennant President and CEO Dave Huml said.

Tennant makes equipment and solutions for cleaning industrial, commercial and outdoor surfaces. Adjusted diluted EPS and adjusted EBITDA are non-GAAP measures.

The company reaffirmed its 2026 net sales outlook of $1.27 billion to $1.31 billion. Its adjusted diluted EPS guidance remains $3.80 to $4.45, and its adjusted EBITDA forecast remains $155 million to $170 million.

Tennant’s results call is scheduled for Tuesday, Nov. 3, at 10 a.m. ET (15:00 UTC).