Benzinga | Aug 3, 2021 09:03AM EDT

Tennant Reaffirms FY21 Guidance; Sees Adj. EPS $4.10-$4.50 vs $4.37 Est., Sales $1.09B-$1.11B vs $1.1B Est.

2021 Business Outlook

"Our full-year guidance assumes our effective management of a challenging supply chain and operations environment, as well as our growing confidence that we are in a long-term global recovery for commercial and industrial cleaning," said Huml. "While we will remain vigilant in our overall cost management in the face of material inflation, parts availability issues and higher freight costs, we will continue to execute against our enterprise strategy and stay focused on serving our customers by providing high-quality products and superior service."

For 2021, Tennant affirms the following guidance ranges:

* Net sales of $1.090 billion to $1.110 billion, reflecting organic sales growth of 9 to 11 percent;

* Full-year reported GAAP earnings in the range of $3.45 to $3.85 per diluted share;

* Adjusted EPS of $4.10 to $4.50 per diluted share;

* Adjusted EBITDA of $140 million to $150 million;

* Capital expenditures of approximately $20 million; and

* An adjusted effective tax rate of approximately 20 percent.