Filing Flows › Tennant (TNC) › Q1 2025
Tennant (TNC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Tennant (TNC) reported revenue of $290M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -12% from the quarter before. Operating margin was 6.8%, net earnings $13.1M (4.5% of revenue).
Tennant, Q1 2025: revenue $290M (-7% year over year), operating margin 6.8%, net earnings $13.1M, operating cash flow −$400K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $290M | -12% | -7% |
| Gross profit | $120M | -12% | -13% |
| Operating profit | $19.6M | +158% | -48% |
| Net earnings | $13.1M | +98% | -54% |
| Operating cash flow | −$400K | — | — |
What changed
Revenue was $290.0M in Q1 2025, down 7% year over year and down 12% from the previous quarter. Equipment was the largest line at 60% of revenue. Equipment lost $17.0M year over year (down 9%), 81% of the total change.
Gross margin was 41.4%, down 2.8 points from a year earlier. Operating profit was $19.6M, a 6.8% margin (down 5.3 points year over year). Operating expenses grew 0% against a revenue fall of 7%. Net earnings were $13.1M, down 54% year over year. The effective tax rate was 23.8%.
Operating cash flow was −$400K. Non-cash charges added back $14.0M of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items used $30.7M. Capital expenditures of $7.0M exceeded it, leaving free cash flow of −$7.4M.
Questions
What was Tennant's revenue in the first quarter 2025?
Tennant (TNC) reported revenue of $290M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -12% from the quarter before.
Was Tennant profitable in the first quarter 2025?
Operating profit was $19.6M (6.8% of revenue) and net earnings $13.1M.
Source: Tennant 10-Q on SEC EDGAR.