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What: Shares of cleaning equipment maker Tennant
So what: In this morning's second-quarter report, Tennant beat Street estimates on both earnings and sales by a considerable margin. The company also upped sales guidance for the full year by 5% and raised the midpoint of earnings guidance by 8%.
Now what: Management explained that business was strong across every geographic and product segment, except city-cleaning equipment. This was Tennant's sixth consecutive quarter of double-digit organic sales growth, and a recent increase in its product prices should provide stronger margins in the back half of 2011. This five-star CAPS stock is the second-most watched commercial machinery stock in our Watchlist universe, sandwiched between Westport Innovations (Nasdaq: WPRT ) and Barnes
Interested in more info on Tennant? Add it to your watchlist.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. Motley Fool newsletter services have recommended buying shares of Westport Innovations and Tennant. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.
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