Mexican Media Brands
Tenneco Profit Drops 36%
Tenneco Inc. netted $30 million in the first quarter of 2012 compared with $47 million in the same period last year.
#economics
Share
Tenneco Inc. netted $30 million in the first quarter of 2012 compared with $47 million in the same period last year.
Revenue rose 9% to $1.9 billion. The company credits higher North American aftermarket sales, rising vehicle production and stronger demand for its emission control systems.
Tenneco says its profit was eroded by the $11 million expense of refinancing its debt. Other negatives included weaker South American vehicle production, sharply lower aftermarket sales in Europe and the cost of increasing capacity in China. North American operating income rose 15% to $71 million.
Operating earnings excluding one-time items increased $2 million year over year to $97 million. On that basis, Tenneco's margin dropped to 6.7% from 7.1% a year earlier.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.