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Tenneco’s Net Income Jumps 24%
Tenneco Inc. reports its adjusted net income climbed to a record $67 million in the first quarter from $49 million in the same period last year.
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Tenneco Inc. reports its adjusted net income climbed to a record $67 million in the first quarter from $49 million in the same period last year.
Revenue during the period for the Illinois-based maker of ride performance and emission-control products grew 6% to $2.1 billion. Adjusted earnings before interest and taxes, which accounts for currency fluctuations, climbed 10% to a first-quarter record of $138 million.
Tenneco upwardly revised its full-year guidance and now expects a 6% gain for its revenue—double the expansion rate in worldwide auto industry production. The company says its growth will accelerate through 2018, thanks to new emission regulations in Europe and North America.
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