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Company Research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
Tennant Company (TNC) investor relations material
Tennant Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Net sales for Q3 2025 were $303.3 million, down 4.0% year-over-year, with a 5.4% organic decline due to lower volumes, especially in North America, partially offset by price realization and favorable currency effects.
Gross margin expanded by 30 basis points to 42.7%, and adjusted EBITDA margin improved by 120 basis points to 16.4%, driven by pricing actions and disciplined expense management.
Adjusted diluted EPS increased 5.0% to $1.46, while reported diluted EPS fell 26.6% to $0.80, reflecting non-recurring legal and restructuring costs.
Order rates grew 2% year-over-year, marking six consecutive quarters of order growth, with AMR robotics sales up 9% year-to-date and new product launches supporting growth.
Tariff volatility, cost inflation, and macroeconomic uncertainty pressured North America industrial demand and customer purchasing behavior.
Financial highlights
Net income for Q3 2025 was $14.9 million, down from $20.8 million in Q3 2024, mainly due to lower sales, ERP costs, legal contingencies, and restructuring charges.
Adjusted net income rose 2.6% year-over-year to $27.3 million, and adjusted EPS increased 5% to $1.46 per diluted share.
S&A expense increased to $96.6 million, up $3.9 million year-over-year, mainly due to legal contingency, strategic investments, and restructuring costs.
Free cash flow for Q3 was $22.3 million, with 183.3% net income conversion; liquidity remained strong with $99.4 million in cash and $409.3 million in unused credit facility.
Adjusted EBITDA was $49.8 million (16.4% of net sales), up from $47.9 million in Q3 2024.
Outlook and guidance
Full-year 2025 net sales are expected within the $1.210–$1.250 billion range, with organic net sales decline of 3.0% to 5.0%.
Adjusted EBITDA is projected near the lower end of the $196–$209 million range, with sequential and year-over-year margin improvement in Q4.
Adjusted diluted EPS guidance is $5.70 to $6.20; capital expenditures projected at ~$20 million.
Tariff-driven inflation is expected to be largely offset by supply chain and pricing actions.
Order growth rates for the full year are expected at 3.5%–7.0%.
What is the backlog impact on future sales?
Discuss margin expansion sustainability with tariffs
Detail ERP modernization's expected efficiencies
Which customer segment delays purchases due to tariffs?
What are ERP project's expected benefits?
What drives AMR business growth and wins?
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Next Tennant Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
Next Tennant Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
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Frequently asked questions
Tennant Company designs, manufactures, and markets cleaning equipment and solutions for indoor and outdoor environments. Its products include floor scrubbers, sweepers, carpet extractors, and related cleaning technologies. The company serves a wide range of markets, including industrial facilities, airports, educational institutions, and retail establishments. Tennant Company also offers aftermarket parts, services, and cleaning solutions. It is headquartered in Eden Prairie, Minnesota, and its shares are listed on the NYSE.
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