Chief Executive Chris Killingstad said strong revenue growth and “disciplined expense management” allowed Tennant Co. to post a profit in fiscal year 2018 after posting a loss the year before.
Sales for the year were up 12 percent to $1.1 billion, across all three global regions where the maker of industrial cleaners does business, the company said Thursday. For the quarter, sales rose 2.1 percent to $285.2 million.
The Golden Valley-based company cleaned up its balance sheet despite headwinds caused by tariffs, inflationary prices on raw materials, increasing freight costs and tight labor markets, Killingstad said. The fourth quarter marked six consecutive quarters of organic sales growth.Sharing is caring! Link to this article:
Golden Valley-based Tennant is making money
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