NYSE$TNC
Tennant Company · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported record fourth-quarter and full-year results, delivering robust growth in net sales and net income, and achieving strong net income to free cash flow conversion.
Tennant Company reported a 7.0% increase in fourth-quarter net sales to $311.4 million and a 30.3% increase in net income to $31.0 million. The company's full-year net sales reached a record $1,243.6 million, a 13.9% increase from 2022, with adjusted EBITDA up 44.3% to $192.9 million.
- Delivered record full-year net sales of $1,243.6 million, marking a 13.9% increase from 2022.
- Fourth-quarter net sales increased 7.0% to $311.4 million.
- Achieved full-year adjusted EBITDA of $192.9 million, a 44.3% increase compared to 2022.
- Generated full-year operating cash flow of $188.4 million.
Headline financials
Revenue & EPS history
Tennant · Revenue · Quarterly
$311M
Forward guidance
The Company is targeting organic net sales growth between 2% and 4% split equally between price and volume growth for the full year 2024.
Tailwinds
- Organic net sales growth between 2% and 4%
- Split equally between price and volume growth.
- Expected reduction in backlog between $80 and $100 million
- Continued strong price realization
- Cost-out activities to favorably impact gross margins
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.4%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.1%
Avg return
30 days after
43%
28 / 65 earnings
Positive
+20.3%
Q1 2023
Best reaction
-23.0%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | +6.5% | +3.3% | |
| Q4 2025 | -23.0% | -25.8% | -17.7% | |
| Q3 2025 | -5.5% | -6.3% | -6.7% | |
| Q1 2025 | +2.7% | +1.9% | +7.1% | |
| Q4 2024 | -1.7% | -0.7% | -3.4% | |
| Q3 2024 | -7.7% | -5.0% | -2.0% | |
| Q2 2024 | -2.5% | -3.0% | -4.7% | |
| Q1 2024 | -7.5% | -6.6% | -11.3% | |
| Q4 2023 | +4.3% | +12.5% | +19.5% | |
| Q3 2023 | +5.3% | +9.2% | +13.5% | |
| Q2 2023 | +7.1% | +6.3% | +2.7% | |
| Q1 2023 | +20.3% | +18.1% | +13.0% | |
| Q4 2022 | +4.9% | +3.4% | -5.6% | |
| Q3 2022 | -0.5% | -1.8% | +5.9% | |
| Q2 2022 | +3.5% | +7.3% | -7.8% | |
| Q1 2022 | -8.3% | -11.4% | -10.1% | |
| Q4 2021 | +3.5% | +1.2% | +5.1% | |
| Q3 2021 | -1.5% | +2.5% | -1.2% | |
| Q2 2021 | -4.1% | -4.9% | -3.6% | |
| Q1 2021 | +3.6% | +6.6% | +3.9% | |
| Q4 2020 | -3.7% | -2.2% | +2.4% | |
| Q3 2020 | -0.4% | +2.2% | +14.8% | |
| Q2 2020 | -4.3% | -5.1% | -1.9% | |
| Q1 2020 | -4.7% | -4.2% | +22.7% | |
| Q4 2019 | -0.3% | -2.6% | -38.0% | |
| Q3 2019 | +8.2% | +9.5% | +4.0% | |
| Q2 2019 | +8.5% | +3.1% | +1.8% | |
| Q1 2019 | -6.1% | -4.3% | -15.7% | |
| Q4 2018 | +4.8% | +1.1% | -0.8% | |
| Q3 2018 | -3.9% | -7.7% | -8.5% | |
| Q2 2018 | +5.4% | +1.8% | -4.4% | |
| Q1 2018 | +6.7% | +5.9% | +12.8% | |
| Q4 2017 | +1.6% | +8.7% | +6.4% | |
| Q3 2017 | -5.6% | -2.2% | -5.5% | |
| Q2 2017 | -13.4% | -12.7% | -19.1% | |
| Q1 2017 | -1.6% | -0.5% | -4.3% | |
| Q4 2016 | +6.9% | +0.2% | +0.9% | |
| Q3 2016 | -0.3% | +3.5% | +24.0% | |
| Q2 2016 | +9.5% | +11.3% | +11.4% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | -0.2% | — | — | |
| Q2 2015 | -5.1% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | -3.2% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +2.8% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -9.0% | — | — | |
| Q3 2013 | -6.9% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | -3.0% | — | — | |
| Q2 2012 | +1.7% | — | — | |
| Q1 2011 | +1.8% | — | — | |
| Q1 2012 | +3.6% | — | — | |
| Q4 2011 | -2.1% | — | — | |
| Q4 2009 | -2.1% | — | — | |
| Q1 2010 | -2.1% | — | — | |
| Q3 2011 | +7.2% | — | — | |
| Q3 2010 | +7.2% | — | — | |
| Q2 2010 | -6.5% | — | — | |
| Q2 2011 | -6.5% | — | — | |
| Q4 2010 | -6.5% | — | — |
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