Tennant Company · NYSE:TNC
Tennant — Q1 2025 Earnings Presentation
20 slides from Tennant's earnings presentation, May 1, 2025
Slide 1: Q1 2025 Results Earnings Release Call
Q1 2025 Results Earnings Release Call May 1, 2025 www.investors.tennantco.com
Slide 2: Safe Harbor Statement
Tennant Company Safe Harbor Statement Certain statements contained in this document are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations
Slide 3: Executive Summary
First-Quarter 2025 Results Executive Net Sales Summary $290.0M Lapping Significant Backlog-Reduction Benefit -5.0% Organic Decline ► Prior-year period benefited from a $50 million backlog reduction ► First-quarter results reflect a return to typical seasonality and product mix Adj. EBITDA* Underlyin
Slide 4: Enterprise Growth Strategy Update
Enterprise Growth Strategy Update Pricing Excellence New Channels & Markets ► Impacted by customer mix due to large sales to ► Increased North America service capacity key strategic customers within the retail drove YoY growth channel in North America ► Go-to-market initiatives in EMEA, specifically
Slide 5: X6 ROVR Launching in Q2 2025
Tennant Company X6 ROVR Launching in Q2 2025 Performance Boost Product Innovation ► Highly maneuverable, purpose- ► Powered by Brain Corp’s market- built AMR delivering superior leading Gen 3, AI-enabled cleaning performance and navigation package available optimal customer productivity exclusively
Slide 6: Maintains 2025 Guidance
Maintains 2025 Guidance Tariff Impact 2025 Guidance ► Limited impact on first-quarter results ► Implementing mitigation strategies through supply-chain actions and pricing initiatives Organic Net Sales Decline (1.0)% - (4.0)% Spending Discipline Order Growth Rates 3.5% – 7% ► Prioritizing investment
Slide 7: Financial Results First Quarter 2025
FINANCIAL RESULTS First Quarter 2025 Tennant Company Earnings Release Call | First Quarter 2025 www.investors.tennantco.com
Slide 8: First-Quarter 2025 Financial Performance
Tennant Company First-Quarter 2025 Financial Performance First-quarter net income decreased compared to prior-year periods Net Income In millions of USD Adjusted EPS ► Lower net sales primarily driven by volume declines across all geographies, particularly in North America which was lapping a prior
Slide 9: First-Quarter 2025 Results
Tennant Company First-Quarter 2025 Results Net Sales Adjusted EBITDA* By Region** Gross Margin decreased 280 bps to 41.4% Product Categories TNC Earnings Release Call | First Quarter 2025 ► Driven by product and customer mix as well as ongoing inflation -6.9% Americas Service $50 M ► Prior-year quar
Slide 10: Capital Deployment
Tennant Company Capital Deployment Cash Flow YE 2024 Q1 2025 Total Debt $200M $214M Net Debt $100M $134M Net Leverage* 0.48x 0.66x Revolver Availability $434.3M TNC Earnings Release Call | First Quarter 2025 Capital Allocation Priorities Invest in the Business Shareholder Return ► $7M of capital exp
Slide 11: Reaffirms Full-Year Guidance
$1.210B - $1.250B Net Sales (1.0)% – (4.0)% Organic Net Sales Decline $3.80 - $4.30 Diluted EPS $5.70 - $6.20 Reaffirms Full- Adjusted Diluted EPS(1) Year Guidance $196M - $209M TNC Earnings Release Call | First Quarter 2025 Adjusted EBITDA(1) 16.2% - 16.7% Adjusted EBITDA Margin(1) ~$20M Capital Ex
Slide 12: www.investors.tennantco.com
www.investors.tennantco.com
Slide 13: Thank You
www.investors.tennantco.com THANK YOU TNC Earnings Release Call | First Quarter 2025 13
Slide 14: Appendix First Quarter 2025
APPENDIX First Quarter 2025 Tennant Company Earnings Release Call | First Quarter 2025 www.investors.tennantco.com
Slide 15: Non-GAAP Financial Measures
Tennant Company Non-GAAP Financial Measures This presentation and the related conference call include presentation of Non-GAAP measures that include or exclude special items of a nonrecurring and/or nonoperational nature (hereinafter referred to as “special items”). Management believes that the Non-
Slide 16: Supplemental Non-GAAP Financial Tables
Tennant Company SUPPLEMENTAL NON-GAAP FINANCIAL TABLES TNC Earnings Release Call | First Quarter 2025 16
Slide 17: Supplemental Non-GAAP Financial Tables
Tennant Company SUPPLEMENTAL NON-GAAP FINANCIAL TABLES TNC Earnings Release Call | First Quarter 2025 17
Slide 18: Supplemental Non-GAAP Financial Tables
Tennant Company SUPPLEMENTAL NON-GAAP FINANCIAL TABLES TNC Earnings Release Call | First Quarter 2025 18
Slide 19: Supplemental Non-GAAP Financial Tables
Tennant Company SUPPLEMENTAL NON-GAAP FINANCIAL TABLES TNC Earnings Release Call | First Quarter 2025 19
Slide 20: Supplemental Non-GAAP Financial Tables
Tennant Company SUPPLEMENTAL NON-GAAP FINANCIAL TABLES TNC Earnings Release Call | First Quarter 2025 20