TENNANT CO — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
Tennant reported Q3 2026 net sales of $322.3M (+6.2% YoY), with robotics revenue of $37.3M (+71% YoY). Adjusted EBITDA was $48.8M (15.1% margin, -130 bps YoY) despite $6.1M tariff refund benefit; pressures included freight/material inflation and production inefficiencies from parts constraints in North America. Nine-month net income fell to $27.3M (-43.4% YoY) from $48.2M; adjusted EPS declined to $2.81 (-31%). Company reaffirmed full-year 2026 guidance: net sales $1,270–$1,310M, adjusted EPS $3.80–$4.45, adjusted EBITDA $155–$170M. Net leverage increased to 2.0x from 1.0x; backlog stood at $118M.
Why this rating
Q3 met/slightly beat consensus; but YTD margin compression (-350 bps), 9M net income halved, leverage doubled, cash flow negative. Robotics growth bright spot. Headwinds persistent but not existential at $1.4B market cap.
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