Tenneco has reported first quarter net income of US$46m compared with US$54m in the same period last year.
Excluding expenses for restructuring and a tax benefit in 2013, net income increased 27% to US$56m, versus $44 million a year ago.
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The supplier also unveiled what it said was its highest quarterly revenue of US$2.09bn, driven by an 11% increase in clean air revenues and a 7% increase in ride performance.
Total revenue reflects a 9% year-over-year increase in light vehicle OE revenue, a 30% increase in commercial truck and off-highway OE revenue, as well as a 2% increase in global aftermarket revenue.
“I am very pleased with our strong results this quarter as we continue to capitalise on Tenneco’s outstanding growth drivers and balance across regions and end-markets,” said Tenneco chairman and CEO, Gregg Sherrill.
“We delivered revenue growth in all clean air and ride performance operating segments, including year-over-year increases in light vehicle, commercial truck and off-highway and the aftermarket.
“We continue to improve profitability and delivered significant margin improvement by leveraging our top-line growth with strong operational performance.”
