Tenneco Inc (TEN) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Home SEC Filings Tenneco Inc (TEN) 10-Q Quarterly Report Wed Aug 09 2017

Exhibit 99.1

Tenneco Reports Second Quarter 2017 Results

  • Record-high second quarter revenue, outpacing industry production
  • Double-digit growth in commercial truck and off highway revenue
  • Returned $57 million to shareholders through share repurchases and dividends
  • Company raises full-year revenue outlook

LAKE FOREST, Ill.--(BUSINESS WIRE)--July 28, 2017--Tenneco Inc. (NYSE: TEN) reported a second quarter net loss of $2 million, or 3-cents per diluted share, which includes adjustments of $104 million after tax. Second quarter 2016 net income* was $84 million, or $1.46 per diluted share. Adjusted net income increased to $102 million, or $1.90 per diluted share, versus $100 million or $1.75 per diluted share last year.*

Revenue

Second quarter revenue was $2.317 billion, up 5% year-over-year, driven by growth in both the Ride Performance and Clean Air product lines.

On a constant currency basis, total second quarter revenue increased 6%, outpacing flat industry production.** Record high revenue in the quarter reflects a 5% increase in light vehicle revenue on the strength of the company’s global platform position. Commercial truck revenue increased 26%, outpacing industry growth of 4%**, with increases in all regions. Off-highway and specialty revenue improved 8% year-over-year on higher volumes in Europe and Japan, with North America revenue steady versus last year. Global aftermarket revenue was roughly flat versus last year.

In constant currency, value-add revenue increased 6% versus last year, and included 6% increases in both Ride Performance and Clean Air revenues.

The following information was filed by Tenneco Inc (TEN) on Friday, July 28, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: TEN
CIK: 1024725
Form Type: 10-Q Quarterly Report
Accession Number: 0001024725-17-000021
Submitted to the SEC: Wed Aug 09 2017 3:59:07 PM EST
Accepted by the SEC: Wed Aug 09 2017
Period: Friday, June 30, 2017
Industry: Motor Vehicle Parts And Accessories

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