Tennant Co. (NYSE: TNC) reported Q4 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $294.8 million versus the consensus estimate of $294.8 million.

• Fourth-quarter net sales of $294.8 million, increase of 2.8 percent organically
• Fourth-quarter GAAP diluted earnings per share of $0.59; adjusted diluted EPS of $0.64 per share

“During 2019, we made meaningful progress in improving our operating model and investing in innovations that deliver real value, like our robotic cleaning machine, the T7 AMR. At the same time, general strength in our Americas business enabled us to offset the effect of macroeconomic challenges in our Europe and Asia Pacific regions,” said Chris Killingstad, Tennant Company’s president and chief executive officer. “We believe our 2019 results demonstrate our ability to achieve reasonable growth with enhanced underlying profitability. While we are in the early stages of our operating model improvement plan, we believe the momentum we’ve built will continue to help drive shareholder value through 2020 and beyond.”

GUIDANCE:

Tennant Co. sees FY2020 EPS of $4.00-$4.00, versus the consensus of $3.03. Tennant Co. sees FY2020 revenue of $1.15-1.16 billion, versus the consensus of $1.16 billion.

“This year we will mark the 150th anniversary of the founding of Tennant Company. As we honor our history as a company with a purpose-driven culture and a talent for innovation, we recognize that reinvention has always been a part of the company’s heritage and the key to its longevity. We are looking ahead with a real sense of excitement and anticipation amid the changes we have set in motion with our new enterprise strategy. In 2020, we will remain focused on our three strategic pillars of winning where we have competitive advantage, reducing complexity and building scalable processes, and innovating for profitable growth,” said Killingstad.

For 2020, Tennant provides the following guidance:

• Net sales of $1.15 billion to $1.16 billion, reflecting organic sales growth of 1.5 to 2.5 percent;
• Full-year reported GAAP earnings in the range of $3.05 to $3.20 per diluted share;
• Adjusted EPS of $4.00 to $4.15 per diluted share, which excludes certain non-operational items and amortization expense;
• Adjusted EBITDA of $146 million to $149 million;
• Capital expenditures of approximately $35 million; and
• An effective tax rate of approximately 19 percent.

For earnings history and earnings-related data on Tennant Co. (TNC) click here.