Tenneco reports fourth quarter and full-year 2013 results
Tenneco has reported fourth quarter net income of $54 million, or 88-cents per diluted share, compared with $33 million, or 54-cents per diluted share, in fourth quarter 2012. On an adjusted basis, net income rose to $59 million, or 96-cents per diluted share, versus $40 million, or 66-cents per diluted share a year ago.
Tenneco said results in the fourth quarter and for full-year 2013 reflect the company’s strong balance across end-markets, geographic regions, customers and platforms as the company continues to build on its strong position in its OE markets (light vehicle, commercial truck, off-highway and other markets); complemented by a market-leading global aftermarket business. Tenneco said it grew revenues across all segments in the fourth quarter and in 2013. Tenneco’s total light vehicle revenue outpaced global industry production with a 13 percent increase in the fourth quarter and an 8 percent rise for the full year. Commercial truck and off-highway revenue was up 51 percent in the fourth quarter and 18 percent for the full year. Global aftermarket revenue also increased, up 5 percent in the quarter and 1 percent in 2013.
Total revenue in the fourth quarter increased to $2.031 billion. Revenue excluding substrate sales was $1.569 billion, up 15 percent, driven by year-over-year increases in Clean Air and Ride Performance.
For the full year, Tenneco reported its highest-ever revenue of $7.964 billion, up 8 percent from a year ago. Excluding substrate sales, revenue increased 7 percent to $6.129 billion.
«We delivered our highest-ever fourth quarter and full year revenue by capitalizing on stronger global light vehicle volumes, launching new light vehicle platforms and growing our commercial truck and off-highway business», - said Gregg Sherrill, chairman and CEO, Tenneco. «Our solid operational performance drove greater profitability for the year with improvements in both the Clean Air and Ride Performance businesses».
Related items
-
‘Why Do I Need New Shocks and Struts?’ – New Monroe Countertop Simulator Tells The Story
Helping consumers understand the vital importance of replacing their vehicles’ worn shocks and struts can be a challenge in some situations, especially without the right support materials. Tenneco’s Monroe brand has helped solve this challenge through an innovative, hands-on countertop shock simulator that demonstrates how ride control units may affect driving... Read more -
Renault Talisman features Monroe semi-active suspension
Tenneco Inc. is supplying the newly-launched Renault Talisman D-segment sedan with its continuously variable semi-active suspension (CVSAe), part of the company’s Monroe® Intelligent Suspension portfolio of original equipment advanced... Read more -
Monroe celebrates 100th Anniversary
Monroe Suspension, one of the most respected brands in the automotive and commercial vehicle industries, is celebrating its 100th Anniversary in 2016 with an extensive schedule of programs, promotions and other special activities designed to support the thousands of parts and service providers and millions of consumers worldwide who rely on Monroe products. Monroe shock absorbers, struts and... Read more -
Monroe Brake Pads, Hardware Now Ship in More Protective Packaging
Tenneco has introduced compartmental product packaging for its Monroe Brakes brake pads to help prevent shipping-related damage to the included pad installation... Read more -
Bridgestone reports modest growth in first half
Bridgestone Corp.’s operating income for the first six months of fiscal 2015 increased 6.5 percent to $1.98 billion, driven by the appreciation of the U.S. dollar vs. the yen, lower crude oil prices and the slowly recovering Japanese domestic... Read more
social