Tenneco Inc. (NYSE:TEN) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Tenneco Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.03% to $0.64 in the quarter versus EPS of $0.66 in the year-earlier quarter.
Revenue: Decreased 0.47% to $1.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tenneco Inc. reported adjusted EPS income of $0.64 per share. By that measure, the company missed the mean analyst estimate of $0.65. It beat the average revenue estimate of $1.86 billion.
Quoting Management: “I am pleased with how our Clean Air and Ride Performance divisions are executing in what continues to be a mixed global industry environment,” said Gregg Sherrill, chairman and CEO, Tenneco. “As anticipated, our total revenue was down slightly year-over-year yet we still delivered record earnings. Importantly, with these lower revenues, adjusted EBIT margin was even with last year, driven by margin improvement in the Clean Air business.”
Key Stats (on next page)…