Tennant Company Q2 2023 Earnings Release Call

Tennant Company reported record net sales of $321.7M in Q2 2023 with 15% organic growth, driven by backlog delivery and improved operational performance. Adjusted EBITDA reached $57.6M (17.9% of net sales) with over 100% free cash flow conversion from net income. The company raised full-year 2023 guidance to net sales of $1.2B–$1.25B and adjusted EBITDA of $175M–$190M.