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1TENNANT COMPANY TENNANT COMPANY Earnings Release Conference Call First Quarter 2019 Tuesday, April 30, 2019
Earnings Release Conference Call
Tuesday, April 30, 20192TENNANT COMPANY
President and CEOKeith Woodward
Non-GAAP MeasuresOur remarks this morning and our answers to questions may contain forward -looking
statements regarding the company’s expectations of future performance. Such
statements are subject to risks and uncertainties, and our actual results may differ
materially from those contained in the statements. These risks and uncertainties are
described in today’s news release and the documents we file with the Securities and
Exchange Commission. We encourage you to review those documents, particularly
our Safe Harbor statement, for a description of the risks and uncertainties that may
Additionally, on this conference call we will discuss non -GAAP measures that include
or exclude special or non -operational items. For each non -GAAP measure, we also
provide the most directly comparable GAAP measure. There were special non -GAAP
items in the first quarter of 2018 and 2019. Our 2019 first quarter earnings release
includes a reconciliation of these non -GAAP measures to our GAAP results.
Earnings Release Conference Call
Tuesday, April 30, 20195TENNANT COMPANY
First Quarter 2019 –Results
•Negative organic and currency impact
•Organic softness due to challenging sales comparison and industry market softness in UK
•Focused on prioritizing sales efforts where our value proposition is strongest
•Optimizing our operations and supply chain
•Mitigating external factors impacting our margins6TENNANT COMPANY
First Quarter 2019 –Results
•Increase of 120 bps over prior -year period
•Macro -driven factors: tariffs, tight skilled -labor market, material inflation and higher freight costs
•Positive impacts: pricing actions, favorable channel mix and efforts to mitigate headwinds
•17% growth or 200 bps over prior -year period
•Gross margin performance and disciplined expense management7TENNANT COMPANY
First Quarter 2019 –Announcements
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