Tennant Company (NYSE: TNC) reported its financial results for the quarter ended September 30, 2026, in a Form 8-K filed on November 2, 2026. The company reported consolidated net sales of $322.3 million for the third quarter of 2026, representing a 6.2% increase compared to the prior-year period. Net income for the quarter was $19.5 million, up 30.9% year over year, while diluted earnings per share (EPS) rose to $1.12 from $0.80 in the prior year.
Adjusted diluted EPS for the third quarter was $1.40, and Adjusted EBITDA totaled $48.8 million, or 15.1% of net sales. While Adjusted EBITDA increased sequentially from the second quarter, it declined compared to the prior year. The company cited higher volume, pricing, and tariff refunds being offset by inflationary cost pressures, part availability constraints, and increased selling, administrative, and research and development expenses.
Order growth was strong, with orders increasing 9.5% year over year. Robotics momentum accelerated during the quarter, with robotics sales reaching approximately $37.3 million, a 71% increase compared to the prior year. The company noted that year-to-date robotics sales have already exceeded full-year 2025 sales. The company also launched the P1 autonomous vacuum to address more customer applications and price points.
Geographically, organic sales growth was driven primarily by the Americas, which increased 8.1% in the third quarter. In contrast, the APAC region saw organic sales decline of 4.8% due to softer market demand and distributor overstock. The company reported a backlog of approximately $118 million at the end of the quarter.
Tennant reaffirmed its full-year 2026 guidance, projecting net sales between $1.270 billion and $1.310 billion. The company also reported a net leverage ratio of 2.0 times as of September 30, 2026, and maintained a balance of $75.3 million in cash and cash equivalents with $289.4 million of unused borrowing capacity under its revolving credit facility.
