Tennant Company is a leading provider of cleaning solutions and equipment, specializing in the design, manufacture, and sale of a wide range of floor cleaning machines and surface maintenance products
The company offers an extensive portfolio that includes industrial and commercial equipment such as scrubbers, sweepers, and floor maintenance systems, aimed at ensuring cleanliness and safety in various environments, from warehouses to retail spaces. In addition to its hardware, Tennant focuses on sustainable practices and innovative technologies, providing effective solutions that improve indoor air quality and reduce water and energy consumption. The company is committed to delivering high-quality products and exceptional customer service to meet the distinct needs of its clients globally.
Over the last six months, Tennant’s shares have sunk to $88.70, producing a disappointing 11.6% loss - a stark contrast to the S&P 500’s 14.4% gain. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
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Industrial cleaning equipment manufacturer Tennant Company fell short of the market’s revenue expectations in Q3 CY2024 as sales rose 3.6% year on year to $315.8 million. On the other hand, the company’s outlook for the full year was close to analysts’ estimates with revenue guided to $1.29 billion at the midpoint. Its GAAP profit of $1.09 per share was also 4.4% below analysts’ consensus estimates.
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.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
