View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 5, 2022

Tenneco books Q1 net loss

Adjusted EBITDA was $253 million compared with $388 million.

By Graeme Roberts

Tenneco booked first quarter revenue of US$4.6 billion, down 2% year over year. Lower production volume was offset by material cost recoveries.

EBIT of $77 million compared with $204 million in first quarter 2021. Adjusted EBITDA was $253 million, compared with $388 million a year ago. This was driven by lower production volume and timing of recoveries on higher inflationary costs for material, freight and energy.

The company posted a net loss of $38 million, or -$0.46 per share, compared to net income of $65 million, ($0.79 per share) a year ago.

Liquidity of $2.1 billion at quarter end consisted of $641 million in cash and $1.4 billion of available revolving credit.

“In the face of continuing inflationary pressures, supply chain disruptions and lower volumes, [we] delivered a solid Q1 performance,” said CEO Brian Kesseler.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto