Latest news with #TennantCompany
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Business Standard
6 days ago
- Business
- Business Standard
LTTS signs deal with US-based Tennant to develop industrial cleaning tech
L&T Technology Services (LTTS) has signed a strategic agreement with US-based Tennant Company for developing industrial cleaning technologies, said the subsidiary of Larsen & Toubro on Wednesday. LTTS will set up a dedicated offshore development centre (ODC) with a scalable engineering team to support Tennant's efforts in new product development, product life cycle management, and key business functions. Tennant Company, which is listed on the New York Stock Exchange, provides sustainable cleaning solutions. The two companies will 'accelerate' the development of industrial cleaning technologies, using LTTS' expertise in embedded systems, Internet of Things and digital engineering, said a statement. 'As Tennant continues to redefine industrial cleaning through innovation and a strong commitment to a greener future, LTTS is proud to collaborate in advancing next-generation solutions in its sustainability segment,' said Alind Saxena, executive director & president - mobility & tech at LTTS. 'By leveraging our expertise in engineering design, manufacturing, and supply chain optimisation, we are committed to enabling intelligent, responsible products, enhancing efficiencies, and supporting Tennant's growth in emerging technologies to build a sustainable and responsible tomorrow,' he said. Using a dedicated team of engineers, the development centre will work to improve Tennant's product innovation, optimise performance, and integrate smart automation in its industrial cleaning portfolio. The collaboration also sets the stage for broader innovation in emerging markets, particularly in Asia Pacific. 'Working with LTTS enables us to harness world-class engineering capabilities and accelerate our product roadmap. Reinforcing a shared commitment to pioneering transformative solutions, the dedicated ODC will play a crucial role in driving new innovations that align with our mission to create a cleaner, safer, and healthier world,' said Pat Schottler, chief marketing & technology officer of Tennant Company.
Yahoo
7 days ago
- Business
- Yahoo
Tennant Company Sells 10,000th Robotic Scrubber, Underscoring Global Demand for Cleaning Automation
Milestone reflects growing adoption of robotic cleaning technology as organizations look to automation to drive consistency, efficiency, and performance across operations MINNEAPOLIS, June 03, 2025--(BUSINESS WIRE)--Tennant Company (NYSE: TNC), a world leader in cleaning equipment and solutions, today announced it sold its 10,000th autonomous mobile robot (AMR), reinforcing the company's leadership in robotic cleaning and underscoring the growing global demand for proven, scalable automation for facility management. Today, robotic solutions are a core strategy for organizations looking to maintain high cleaning standards across industrial and commercial environments. "Selling 10,000 robotic scrubbers is a major milestone — not just for Tennant, but for robotic cleaning adoption overall," said Dave Huml, President and CEO of Tennant Company. "It signals a clear shift with customers: we've moved past the wait-and-see era. Scalable robotic cleaning programs deliver real results, customers are choosing Tennant for robotic cleaning, and this is only the beginning." Robotic cleaning solutions now deliver more consistent results, reduced reliance on human labor for repetitive tasks, and more accurate, real-time reporting on cleaning results. Cleaning robotics now helps meet compliance standards and supports audit readiness in a way that wasn't possible a decade ago. Tennant's journey reflects these technological advancements. Some of the milestones along the way of Tennant's AMR journey: 2018 – T7AMR: Tennant launches its first AMR, the T7AMR, introducing robotic cleaning to large commercial spaces. 2020 – T380AMR: Tennant ships the first T380AMR, a smaller, maneuverable machine, designed to fit in tight and narrow spaces. 2021 – T16AMR: Tennant debuts the T16AMR, the first robotic scrubber in its product line built for logistics and manufacturing facilities. 2024 – Brain Corp Partnership and X4 ROVR robotic floor scrubber: Tennant formalizes its relationship with Brain Corp, signing an exclusive technology agreement and investing $32 million to accelerate the next generation of AI-enabled AMR development and adoption in the floor cleaning industry. This leads to the X4 ROVR, the first purpose-built autonomous scrubber in its portfolio for small to mid-sized commercial spaces. 2025 – X6 ROVR robotic floor scrubber: Tennant launches the X6 ROVR, a mid-sized robotic scrubber built for large and complex environments, capable of cleaning up to 75,000 square feet per cycle. The sale of 10,000 robotic cleaning machines shows more than general demand for AMRs. Customers choose Tennant again and again because of its emphasis on the human element of AMR adoption — service and support. As organizations scale up automation, they need a partner to help adopt robotics alongside their existing team, working directly with customers to implement tech, train employees, and monitor results to ensure AMRs fully integrate into daily workflows. This hands-on support is one example of Tennant's ability to look forward and ensure automation delivers real, lasting value for its customers. "Reaching this milestone is a testament to Tennant's continued focus on delivering innovation that's both forward-thinking and field-proven," said John Ickes, Director of Design and Innovation at Tennant Company. "Our AMR solutions aren't just about new technology — they're about helping customers solve real operational challenges with tools designed expressly for the scenarios they deal with on a day-to-day basis." For more on Tennant's AMR product suite and robotics technology, visit About Tennant Company Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.29 billion in 2024 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products directly in more than 21 countries and through distributors in more than 100 countries. For more information visit and The Tennant Company logo and other trademarks designated with the symbol "®" are trademarks of Tennant Company registered in the United States and/or other countries. View source version on Contacts MEDIA CONTACT: Gracie Lissick, Words At (612) 334-5960 Sign in to access your portfolio
Business Wire
7 days ago
- Business
- Business Wire
Tennant Company Sells 10,000th Robotic Scrubber, Underscoring Global Demand for Cleaning Automation
MINNEAPOLIS--(BUSINESS WIRE)-- Tennant Company (NYSE: TNC), a world leader in cleaning equipment and solutions, today announced it sold its 10,000 th autonomous mobile robot (AMR), reinforcing the company's leadership in robotic cleaning and underscoring the growing global demand for proven, scalable automation for facility management. Today, robotic solutions are a core strategy for organizations looking to maintain high cleaning standards across industrial and commercial environments. 'Selling 10,000 robotic scrubbers is a major milestone — not just for Tennant, but for robotic cleaning adoption overall,' said Dave Huml, President and CEO of Tennant Company. 'It signals a clear shift with customers: we've moved past the wait-and-see era. Scalable robotic cleaning programs deliver real results, customers are choosing Tennant for robotic cleaning, and this is only the beginning.' Robotic cleaning solutions now deliver more consistent results, reduced reliance on human labor for repetitive tasks, and more accurate, real-time reporting on cleaning results. Cleaning robotics now helps meet compliance standards and supports audit readiness in a way that wasn't possible a decade ago. Tennant's journey reflects these technological advancements. Some of the milestones along the way of Tennant's AMR journey: 2018 – T7AMR: Tennant launches its first AMR, the T7AMR, introducing robotic cleaning to large commercial spaces. 2020 – T380AMR: Tennant ships the first T380AMR, a smaller, maneuverable machine, designed to fit in tight and narrow spaces. 2021 – T16AMR: Tennant debuts the T16AMR, the first robotic scrubber in its product line built for logistics and manufacturing facilities. 2024 – Brain Corp Partnership and X4 ROVR robotic floor scrubber: Tennant formalizes its relationship with Brain Corp, signing an exclusive technology agreement and investing $32 million to accelerate the next generation of AI-enabled AMR development and adoption in the floor cleaning industry. This leads to the X4 ROVR, the first purpose-built autonomous scrubber in its portfolio for small to mid-sized commercial spaces. 2025 – X6 ROVR robotic floor scrubber: Tennant launches the X6 ROVR, a mid-sized robotic scrubber built for large and complex environments, capable of cleaning up to 75,000 square feet per cycle. The sale of 10,000 robotic cleaning machines shows more than general demand for AMRs. Customers choose Tennant again and again because of its emphasis on the human element of AMR adoption — service and support. As organizations scale up automation, they need a partner to help adopt robotics alongside their existing team, working directly with customers to implement tech, train employees, and monitor results to ensure AMRs fully integrate into daily workflows. This hands-on support is one example of Tennant's ability to look forward and ensure automation delivers real, lasting value for its customers. 'Reaching this milestone is a testament to Tennant's continued focus on delivering innovation that's both forward-thinking and field-proven,' said John Ickes, Director of Design and Innovation at Tennant Company. 'Our AMR solutions aren't just about new technology — they're about helping customers solve real operational challenges with tools designed expressly for the scenarios they deal with on a day-to-day basis.' For more on Tennant's AMR product suite and robotics technology, visit Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.29 billion in 2024 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products directly in more than 21 countries and through distributors in more than 100 countries. For more information visit and The Tennant Company logo and other trademarks designated with the symbol '®' are trademarks of Tennant Company registered in the United States and/or other countries.
Yahoo
26-05-2025
- Business
- Yahoo
Tennant (NYSE:TNC) Shareholders Will Want The ROCE Trajectory To Continue
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, we've noticed some promising trends at Tennant (NYSE:TNC) so let's look a bit deeper. We've discovered 1 warning sign about Tennant. View them for free. Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Tennant is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.11 = US$106m ÷ (US$1.2b - US$257m) (Based on the trailing twelve months to March 2025). Therefore, Tennant has an ROCE of 11%. That's a pretty standard return and it's in line with the industry average of 11%. See our latest analysis for Tennant In the above chart we have measured Tennant's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Tennant for free. Tennant is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 31% in that same time. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects. As discussed above, Tennant appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 19% to shareholders. So with that in mind, we think the stock deserves further research. One more thing, we've spotted 1 warning sign facing Tennant that you might find interesting. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Tennant (NYSE:TNC) Reports Sales Below Analyst Estimates In Q1 Earnings
Industrial cleaning equipment manufacturer Tennant Company fell short of the market's revenue expectations in Q1 CY2025, with sales falling 6.8% year on year to $290 million. The company's full-year revenue guidance of $1.23 billion at the midpoint came in 1% below analysts' estimates. Its non-GAAP profit of $1.12 per share was 14.1% below analysts' consensus estimates. Is now the time to buy Tennant? Find out in our full research report. Revenue: $290 million vs analyst estimates of $296.6 million (6.8% year-on-year decline, 2.2% miss) Adjusted EPS: $1.12 vs analyst expectations of $1.30 (14.1% miss) Adjusted EBITDA: $41 million vs analyst estimates of $48.45 million (14.1% margin, 15.4% miss) The company reconfirmed its revenue guidance for the full year of $1.23 billion at the midpoint Management reiterated its full-year Adjusted EPS guidance of $5.95 at the midpoint EBITDA guidance for the full year is $202.5 million at the midpoint, in line with analyst expectations Operating Margin: 6.8%, down from 12.1% in the same quarter last year Free Cash Flow was -$7.4 million compared to -$300,000 in the same quarter last year Market Capitalization: $1.37 billion 'We are pleased to report Tennant's first quarter results in line with our expectations. Lapping a previous record-high first quarter in the prior year, which benefited from a significant backlog reduction concentrated in higher-margin products and customers, our first quarter results reflect a return to typical seasonal patterns and product mix," said Dave Huml, Tennant President and Chief Executive Officer. As the world's largest manufacturer of autonomous mobile robots, Tennant (NYSE:TNC) designs, manufactures, and sells cleaning products to various sectors. Reviewing a company's long-term sales performance reveals insights into its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, Tennant grew its sales at a sluggish 2.3% compounded annual growth rate. This was below our standards and is a poor baseline for our analysis. Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. Tennant's annualized revenue growth of 5.4% over the last two years is above its five-year trend, but we were still disappointed by the results. This quarter, Tennant missed Wall Street's estimates and reported a rather uninspiring 6.8% year-on-year revenue decline, generating $290 million of revenue. Looking ahead, sell-side analysts expect revenue to decline by 1% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and indicates its products and services will see some demand headwinds. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. Tennant has done a decent job managing its cost base over the last five years. The company has produced an average operating margin of 9%, higher than the broader industrials sector. Analyzing the trend in its profitability, Tennant's operating margin might fluctuated slightly but has generally stayed the same over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. In Q1, Tennant generated an operating profit margin of 6.8%, down 5.3 percentage points year on year. Since Tennant's operating margin decreased more than its gross margin, we can assume it was less efficient because expenses such as marketing, R&D, and administrative overhead increased. Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Tennant's EPS grew at a remarkable 14.6% compounded annual growth rate over the last five years, higher than its 2.3% annualized revenue growth. However, we take this with a grain of salt because its operating margin didn't expand and it didn't repurchase its shares, meaning the delta came from reduced interest expenses or taxes. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Tennant, its two-year annual EPS growth of 10.3% was lower than its five-year trend. We still think its growth was good and hope it can accelerate in the future. In Q1, Tennant reported EPS at $1.12, down from $1.81 in the same quarter last year. This print missed analysts' estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects Tennant's full-year EPS of $5.86 to grow 5.9%. We struggled to find many positives in these results. Its revenue missed significantly and its EBITDA fell short of Wall Street's estimates. Overall, this was a weaker quarter. The stock remained flat at $72.16 immediately after reporting. So should you invest in Tennant right now? If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
