Tennant (NYSE:TNC) Stock, Quote.Headers.trade-ideas

Tennant

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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LXFR

ZBRA

Zebra Technologies Corporation (NASDAQ: ZBRA) recently announced the pricing of its private offering of senior notes worth $500 million in aggregate principal amount. The offering is anticipated to close on May 28, 2024, conditional on certain customary closing conditions.


Zebra Prices $500M Senior Notes in Private Offering

Earnings

Flowserve Corporation (NYSE: FLS) stands to benefit from strength across its businesses, focus on operational excellence and a sound liquidity position. The company remains focused on investing in growth opportunities and strengthening its long-term market position.

Here&#39;s Why Flowserve Stock Should Grace Your Portfolio

RBC Bearings Incorporated&#39;s (NYSE: RBC) fourth-quarter fiscal 2024 (ended March 2024) adjusted earnings of $2.47 per share beat the Zacks Consensus Estimate of $2.32. The figure increased 16% from the year-ago adjusted earnings of $2.13, supported by higher revenues.

RBC Bearings Q4 Earnings Surpass Estimates, Up Y/Y

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Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) affirms FY2024 Adj EPS guidance from $6.15-6.55 to $6.15-6.55 vs $6.51 analyst estimate. Affirms FY2024 sales outlook from $1.28 billion-1.30 billion to $1.28 billion-1.30 billion vs $1.29 billion estimate.

Guidance

Tennant Affirms FY2024 Adj EPS Guidance to $6.15-6.55 vs $6.51 Est; Affirms FY2024 Sales Guidance to $1.28B-1.30B vs $1.29B Est

Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) reported quarterly earnings of $1.39 per share which missed the analyst consensus estimate of $1.43 by 2.8 percent. This is a 3.73 percent increase over earnings of $1.34 per share from the same period last year. The company reported quarterly sales of $315.80 million which missed the analyst consensus estimate of $319.40 million by 1.13 percent. This is a 3.64 percent increase over sales of $304.70 million the same period last year.

Earnings Misses

Tennant Q3 Adj $1.39 Misses $1.43 Estimate, Sales $315.80M Miss $319.40M Estimate

Marks 53rd Consecutive Increase in Annual Cash Dividend
The Board of Directors of Tennant Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) today authorized raising the quarterly cash dividend to $0.295 per share, a 5.4% increase. The increased dividend is payable December 16, 2024, to shareholders of record at the close of business on November 29, 2024.

Dividends

Tennant Company Increases Dividend From $0.28 To $0.295 Per Share

Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) is preparing to release its quarterly earnings on Thursday, 2024-10-31. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Tennant to report an earnings per share (EPS) of $1.43.
Investors in Tennant are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.12, leading to a 1.28% increase in the share price on the subsequent day.
Here's a look at Tennant's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.71</td>
<td>1.42</td>
<td>1.25</td>
<td>1.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.83</td>
<td>1.81</td>
<td>1.92</td>
<td>1.34</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>-8.0%</td>
<td>4.0%</td>
<td>7.000000000000001%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730315155_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/TNC/earnings">To track all earnings releases for Tennant visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse of Tennant's Earnings Potential

Tennant Revised FY24 Adj. EPS Outlook To $6.15 - $6.55 (From $6.05 - $6.65) Vs. $6.61 Est.

Tennant Raised FY24 Net Sales Outlook To $1.280B-$1.305B (From $1.270B-$1.295B) Vs. Cons. $1.277B Est.

Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) reported quarterly earnings of $1.83 per share which beat the analyst consensus estimate of $1.71 by 7.02 percent. This is a 1.61 percent decrease over earnings of $1.86 per share from the same period last year. The company reported quarterly sales of $331.00 million which beat the analyst consensus estimate of $327.15 million by 1.18 percent. This is a 2.89 percent increase over sales of $321.70 million the same period last year.

Earnings Beats

Tennant Q2 Adj EPS $1.83 Beats $1.71 Estimate, Sales $331.00M Beat $327.15M Estimate

Zebra Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>) recently announced the pricing of its private offering of senior notes worth $500 million in aggregate principal amount. The offering is anticipated to close on May 28, 2024, conditional on certain customary closing conditions. 
The company&#39;s shares gained 1.6% yesterday, thereby ending the trading session at $326.98.
<h3>Inside the Headlines</h3>
The senior notes carry an interest rate of 6.500% and are scheduled to mature on Jun 1, 2032. Notably, the senior notes are Zebra Technologies&#39; unsecured obligations and will be guaranteed by certain of its domestic subsidiaries. The notes will be offered only to qualified institutional buyers per Rule 144A under the Securities Act of 1933 and to non-U.S. investors conforming to Regulation S. 
Zebra Technologies expects to use the net proceeds from this offering to repay all of its outstanding debt under the revolving credit facility and to meet general corporate purposes. Exiting the first quarter, the company&#39;s outstanding debt under its revolving credit facility totaled $172 million. 
We believe that the offering of senior notes will increase ZBRA&#39;s debts and, in turn, might inflate its financial obligations and hurt profitability. However, prepaying part of certain indebtedness will offer some relief. Exiting the first quarter, the company&#39;s long-term debt remained high at $1.8 billion. At the end of the first quarter, its cash and cash equivalents were $127 million, less than the current portion of long-term debt of $272 million.
<h3>Zacks Rank, Price Performance and Earnings Trend</h3>
ZBRA, with a $16.8 billion market capitalization, currently sports a Zacks Rank #1 (Strong Buy). It stands to benefit from strong demand for services and software, and RFID (radio frequency identification) products. Also, its cost-management actions are enabling it to cut down operating expenses and improve margin performance.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/67333.jpg?v=837930431" /> 
Image Source: Zacks Investment Research
Its shares have gained 18.9% compared with the industry&#39;s 11.6% growth in the past three months. 
The Zacks Consensus Estimate for 2024 earnings has increased 9.3% to $12.11 in the past 60 days.
<h3>Other Stocks to Consider</h3>
Other top-ranked stocks from the Zacks Industrial Products sector are discussed below. 
Luxfer Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lxfr#NYSE">LXFR</a>) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 122.5%. 
The Zacks Consensus Estimate for LXFR&#39;s 2024 earnings has increased 13.5% in the past 60 days. 
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 15.2%. 
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has risen 3.3%. 
Tennant Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnc#NYSE">TNC</a>) currently carries a Zacks Rank of 2. TNC delivered a trailing four-quarter average earnings surprise of 38%. 
In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has inched up 1.9%.
<a href="https://www.zacks.com/stock/news/2277710/zebra-zbra-prices-500m-senior-notes-in-private-offering?cid=CS-BENZ-FT-analyst_blog|company_news_-_corporate_actions-2277710">To read this article on Zacks.com click here.</a>

Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) stands to benefit from strength across its businesses, focus on operational excellence and a sound liquidity position. The company remains focused on investing in growth opportunities and strengthening its long-term market position.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/be/67261.jpg?v=2023072408" /> 
Image Source: Zacks Investment Research
It has a market capitalization of $6.6 billion. Over the past three months, it has gained 19.7% compared with the industry&#39;s 1.5% growth. FLS currently carries a Zacks Rank #2 (Buy). 
Let&#39;s delve into the factors that have been aiding the firm for a while now. 
Solid Booking Level: The company has been benefiting from robust bookings driven by strong maintenance, repair, operations and aftermarket activity. Solid booking levels supported by strong demand for bill and gas, and chemicals augur well for the company. FLS&#39; Diversify, Decarbonize and Digitize strategy has also been supporting its growth. Notably, its first-quarter 2024 bookings of $1.04 billion marked the ninth consecutive quarter of more than $1 billion bookings. 
Business Strength: Solid momentum in the original equipment and aftermarket businesses are supporting both the Flowserve Pump Division (revenues increased 9.9% year over year in the first quarter) and Flow Control Division (revenues grew 13.8% year over year in the first quarter) segments. For 2024, the company projects revenues to grow in the range of 4-6% from the year-ago levels. It anticipates adjusted earnings per share between $2.50 and $2.70. 
Shareholder-Friendly Policies: Management remains focused on rewarding its shareholders through dividend payouts.&nbsp;The company paid dividends of $105 million in 2023.&nbsp; In the first quarter, it used $27.7 million for distributing dividends. 
Solid Liquidity Position: In the first three months of 2024, the company generated net cash of $62.3 million from operating activities, up from $26.6 million in the year-ago period. Exiting the first quarter, its cash and cash equivalents were $532 million, much higher than the current maturities of $66.4 million. 
However, Flowserve has been grappling with escalating costs and expenses over time. In 2023, its cost of sales jumped 16.1% year over year due to higher input costs. Also, the metric jumped 9.5% year over year in the first quarter of 2024 due to higher input costs.
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks from the same space are discussed below. 
Luxfer Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lxfr#NYSE">LXFR</a>) presently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter average earnings surprise of 122.5%. 
The Zacks Consensus Estimate for LXFR&#39;s 2024 earnings has increased 13.5% in the past 60 days. 
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 15.2%. 
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has risen 3.3%. 
Tennant Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnc#NYSE">TNC</a>) currently carries a Zacks Rank of 2. TNC delivered a trailing four-quarter average earnings surprise of 38%. 
In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has inched up 1.9%.
<a href="https://www.zacks.com/stock/news/2277314/here-s-why-flowserve-fls-stock-should-grace-your-portfolio?cid=CS-BENZ-FT-analyst_blog|rank_focused-2277314">To read this article on Zacks.com click here.</a>

Here's Why Flowserve Stock Should Grace Your Portfolio

RBC Bearings Incorporated&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rbc#NYSE">RBC</a>) fourth-quarter fiscal 2024 (ended March 2024) adjusted earnings of $2.47 per share beat the Zacks Consensus Estimate of $2.32. The figure increased 16% from the year-ago adjusted earnings of $2.13, supported by higher revenues.
<h3>Revenue Details</h3>
In the quarter under review, RBC Bearings&#39; revenues were $413.7 million, which increased 4.9% year over year. However, the figure missed the Zacks Consensus Estimate of $416 million. 
While exiting the reported quarter, RBC had a backlog of $726.1 million, up 9.4% year over year. 
For fiscal 2024, the company&#39;s revenues came in at $1.56 billion, up 6.2% year over year. It reported adjusted earnings of $8.62, reflecting an increase of 15.2% on a year-over-year basis.
<h3>Segmental Details</h3>
The company currently has two reportable segments, namely Aerospace/Defense and Industrial. Its segmental performance for the fiscal fourth quarter is briefly discussed below: 
Industrial revenues of $271.4 million (representing 65.6% of the quarter&#39;s revenues) were down 0.4% year over year. 
Aerospace/Defense revenues totaled $142.3 million (34.4%), up 16.8% year over year.
<div class="chart_embed">
<h3>RBC Bearings Incorporated Price, Consensus and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/RBC/price-consensus-eps-surprise-chart?icid=chart-RBC-price-consensus-eps-surprise-chart"><img alt="RBC Bearings Incorporated Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/01/1716198978.png" style="height:265px; width:583px" title="" /> </a>
RBC Bearings Incorporated price-consensus-eps-surprise-chart | RBC Bearings Incorporated Quote
</div>
<h3>Margin Profile</h3>
In the reported quarter, the company&#39;s cost of sales rose 3.2% year over year to $235.4 million. Gross profit grew 7.2% to $178.3 million. The margin expanded 90 basis points (bps) to 43.1%. 
Selling, general and administrative expenses were $64.4 million, up 8.1% year over year. Adjusted EBITDA jumped 7.4% to $130.1 million. The adjusted EBITDA margin was 31.4%, up 70 bps year over year. 
Adjusted operating income increased 8.6% year over year to $96.3 million. The adjusted margin increased 80 bps to 23.3%. Net interest expenses were $18.8 million compared with $21.7 million in the year-ago quarter.
<h3>Balance Sheet and Cash Flow</h3>
At the time of exiting the fiscal fourth quarter, RBC had cash and cash equivalents of $63.5 million compared with $65.4 million at the end of the year-ago fiscal quarter. Total debt was $1.19 billion, down from $1.40 billion at the end of the year-earlier fiscal quarter. 
In fiscal 2024, the company generated net cash of $274.7 million from operating activities, which increased 24.5% on a year-over-year basis. Capital expenditure of $33.2 million decreased 21% year over year. 
In fiscal 2024, RBC Bearings repurchased shares worth $11 million, up 41.4% year over year.
<h3>Outlook</h3>
For the first quarter of fiscal 2025, management anticipates net sales in the range of $415-$420 million, suggesting a climb of 7.2-8.5% from the prior-year figure of $387.1 million.
<h3>Zacks Rank &amp; Other Stocks to Consider</h3>
RBC currently carries a Zacks Rank #2 (Buy). 
Some other top-ranked companies from the same space are discussed below: 
Luxfer Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lxfr#NYSE">LXFR</a>) presently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter average earnings surprise of 122.5%. 
The Zacks Consensus Estimate for LXFR&#39;s 2024 earnings has increased 13.5% in the past 60 days. 
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 15.2%. 
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has risen 3.3%. 
Tennant Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnc#NYSE">TNC</a>) currently carries a Zacks Rank of 2. TNC delivered a trailing four-quarter average earnings surprise of 38%. 
In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has inched up 1.9%.
<a href="https://www.zacks.com/stock/news/2275829/rbc-bearings-rbc-q4-earnings-surpass-estimates-up-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2275829">To read this article on Zacks.com click here.</a>

EF Hutton analyst Tim Moore maintains Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) with a Buy and announces $150 price target.

Price Target

EF Hutton Maintains Buy on Tennant, Announces $150 Price Target

Tennant shares are trading lower. The company reported Q1 financial results.

Tennant Reaffirmed FY24 Net Sales Of $1.27B-$1.295B (Est $1.288B), Adjusted EPS Of $6.05-$6.65 (Est $6.46)

Tennant Reaffirmed FY24 Organic Net Sales Growth Of 2.0%-4.0%

Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) reported quarterly earnings of $1.81 per share which beat the analyst consensus estimate of $1.42 by 27.46 percent. The company reported quarterly sales of $311.000 million which beat the analyst consensus estimate of $310.467 million by 0.17 percent. This is a 1.70 percent increase over sales of $305.800 million the same period last year.

Tennant Q1 2024 Adj EPS $1.81 Beats $1.42 Estimate, Sales $311.000M Beat $310.467M Estimate

EF Hutton analyst Tim Moore maintains Tennant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) with a Buy and maintains $140 price target.

EF Hutton Maintains Buy on Tennant, Maintains $140 Price Target

As of March 15, 2024, five stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Grindrod Shipping Holdings Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grin#NASDAQ">GRIN</a>)</h3>
<ul>
<li>On Feb. 28, Grindrod Shipping posted a narrower-than-expected quarterly loss. The company&rsquo;s stock gained around 11% over the past five days and has a <a href="https://www.benzinga.com/quote/GRIN">52-week high of $14.90 </a>.</li>
<li>RSI Value: 72.96</li>
<li>GRIN Price Action: Shares of Grindrod Shipping gained 6.7% to close at $9.73 on Thursday.</li>
</ul>
<h3>NuScale Power Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smr#NYSE">SMR</a>)</h3>
<ul>
<li>On March 14, NuScale Power posted downbeat quarterly sales. &quot;Over the course of 2023, we made significant progress towards commercializing our SMR technology, including continued activities to ensure readiness for manufacturing of our first NuScale Power Modules, building traction amongst data centers and further developing industrial applications for SMRs, such as process heat, hydrogen, and ammonia production,&quot; said John Hopkins, President and Chief Executive Officer of NuScale Power. The company&rsquo;s stock gained around 55% over the past five days and <a href="https://www.benzinga.com/quote/SMR"> has a 52-week high </a> of $9.27.</li>
<li>RSI Value: 84.89</li>
<li>SMR Price Action: Shares of NuScale Power gained 2.3% to close at $7.24 on Thursday.</li>
</ul>
<h3>Copart, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cprt#NASDAQ">CPRT</a>)</h3>
<ul>
<li>On March 11, Copart named Jeff Liaw as CEO and Director, and Jay Adair as Executive Chairman. The company&rsquo;s stock gained around 13% over the past month has a <a href="https://www.benzinga.com/quote/CPRT"> 52-week high </a> of $56.96.</li>
<li>RSI Value: 75.07</li>
<li>CPRT Price Action: Shares of Copart gained 0.3% to close at $56.42 on Thursday.</li>
</ul>
<h3>General Electric Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>)</h3>
<ul>
<li>On March 7, General Electric said that GE Aerospace reaffirmed its guidance, presenting a longer-term financial outlook, including achieving operating profit worth $10 billion in 2028. The company&rsquo;s stock jumped around 12% over the past month and has a 52-week high is $175.81.</li>
<li>RSI Value: 72.30</li>
<li>GE Price Action: Shares of General Electric fell 2% to close at $166.75 on Wednesday.</li>
</ul>
<h3>Tennant Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tnc#NYSE">TNC</a>)</h3>
<ul>
<li>On March 1, Tennant announced that it has acquired M&amp;F Management and Financing, the parent company of TCS EMEA, as Tennant seeks to accelerate growth in the EMEA region. The company&rsquo;s stock jumped around 10% over the past month and <a href="https://www.benzinga.com/quote/TNC"> has a 52-week high </a> of $117.00.</li>
<li>RSI Value: 70.55</li>
<li>TNC Price Action: Shares of Tennant fell 0.6% to close at $112.07 on Thursday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/03/37687466/how-to-earn-500-a-month-from-pfizer-stock-after-a-surprise-profit-turning-quarter"> How To Earn $500 A Month From Pfizer Stock After A Surprise Profit-Turning Quarter </a>

Short Ideas

Pre-Market Outlook

CPRT

Grindrod Shipping Holdings Ltd Ordinary Shares

GRIN

Top 5 Industrials Stocks That May Fall Off A Cliff In Q1

On Friday,&nbsp;Tennant Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>) announced that it has acquired M&amp;F Management and Financing, the parent company of TCS EMEA, as Tennant seeks to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/b37413852/tennant-company-acquires-long-time-distributor-of-tennant-equipment-to-accelerate-growth-in-the-ce" rel="noreferrer noopener">accelerate growth in the EMEA region</a>.
Terms of the transaction were not disclosed. The acquisition gives Tennant an established direct channel into countries including Romania, Hungary, the Czech Republic, and Slovakia.
Under the deal, the company will also have an expanded network in Austria, Switzerland, Poland, and other nations in the region, as well as the Middle East and Africa.
The acquisition aligns with Tennant&#8217;s strategy of investing in firms possessing commercial capabilities. This move aims to extend Tennant&#8217;s cleaning solutions to new markets and enhance its global sales and service network.
&#8220;We are confident that we can leverage the experienced TCS team to increase our presence in Eastern Europe while using Tennant&#8217;s extensive resources in the region to support the strong service that TCS has always provided their customers,&#8221; said Rusty Zay, Senior Vice President and Chief Commercial Officer for Tennant Company.&nbsp;
Price Action: TNC shares closed lower by 0.25% to $113.19 on Thursday.
Photo via Shutterstock

Equities

General

Tennant Acquires TCS EMEA To Expand Presence In Eastern Europe

Tennant Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNC#NYSE">TNC</a>), a world leader in designing, manufacturing, and marketing solutions that help create a cleaner, safer, healthier world, today announced that it has acquired M&amp;F Management and Financing GmbH (&quot;M&amp;F&quot;), the parent company of TCS EMEA GmbH (&quot;TCS&quot;), as Tennant seeks to accelerate growth in the EMEA region.
Based in Austria, TCS is Tennant Company&#39;s largest Central and Eastern Europe distributor. The acquisition gives Tennant a knowledgeable and experienced sales force and an established direct channel into countries including Romania, Hungary, Czech Republic, and Slovakia, along with an expanded network in Austria, Switzerland, Poland, and other nations in the region, as well as the Middle East and Africa.

Tennant Acquires Long-Time Distributor Of Tennant Equipment, M&F Management And Financing, To Accelerate Growth In The Central & Eastern Europe Region; Terms Not Disclosed

The Board of Directors of Tennant (TNC) Company authorized raising the quarterly cash dividend to $0.295 per share, a 5.4% increase. The increased ...

Tennant raises quarterly dividend 5.4% to 29.5c per share

Tennant Non-GAAP EPS of $1.39 misses by $0.05, revenue of $315.8M misses by $3.6M

Tennant Company 2024 Q3 - Results - Earnings Call Presentation

Tennant increases dividend by ~5% to $0.295

Tennant Company ( ($TNC) ) has released its Q3 earnings. Here is a breakdown of the information Tennant Company presented to its investors. Tennant...

Tennant Company Shows Resilient Sales Growth in Q3 2024

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Tennant Company (TNC) Q3 2024 Earnings Call Transcript

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