Tennant (TNC) Stock Trades Down, Here Is Why

Shares of industrial cleaning equipment manufacturer Tennant Company (TNC) fell 17.1% after the company reported second-quarter results that missed analyst estimates for revenue and earnings, and lowered its full-year profit forecast. Revenue was $324 million against an estimated $329.6 million, and adjusted EPS was $0.83, well below the expected $1.33. The company also trimmed its Adjusted EBITDA guidance for the full year, indicating weaker profitability.