Tennant Q2 Results Beat Estimates, Reiterates FY13 Outlook - Quick Facts

(RTTNews) - Tennant Co. (TNC) reported second-quarter net earnings of $14.3 million or $0.76 per share, up from $13.7 million or $0.71 per share in the year-ago quarter. On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales for the quarter edged up to $200.24 million from $199.49 million in the same period last year. Analysts had a consensus revenue estimate of $197.07 million.

Unfavorable foreign currency exchange impacted consolidated net sales by approximately 0.5 percent. Organic net sales, which exclude the impact of foreign currency exchange, and acquisitions when applicable, increased about 0.9 percent.

For fiscal 2013, Tennant reiterated its outlook for adjusted earnings in the range of $2.20 to $2.50 per share on net sales in a range of $750 million to $770 million. Including the 2013 first quarter special items of a net loss of $0.02 per share, the company expects full-year reported earnings per share in a range of $2.18 to $2.48.

Analysts expect the company to earn $2.32 per share for the year on revenues of $750.40 million.