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Tenneco Boosts Profit Despite Flat Sales
Tenneco Inc. netted $125 million in the third quarter of this year compared with $30 million in the same period of 2011.
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Tenneco Inc. netted $125 million in the third quarter of this year compared with $30 million in the same period of 2011.
Revenue was virtually unchanged at $1.8 billion. The maker of exhaust and ride-control systems says sales gains from higher light vehicle production in China and North America were offset by declines in Europe. Tenneco expects those trends to continue in the current quarter.
Excluding one-time items, the Lake Forest, Ill.-based company earned $52 million in the July-September period compared with $42 million a year earlier. Income before interest and taxes grew to 6.2% of sales from 4.7% in last year's third quarter.
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