View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 31, 2017updated 09 Apr 2021 12:37pm

Tenneco posts Q2 net loss of US$2m

Tenneco has posted a second-quarter net loss of US$2m, while adjusted net income increased to US$102m versus US$100m last year. 

Tenneco has posted a second-quarter net loss of US$2m, while adjusted net income increased to US$102m versus US$100m last year. 

Second quarter revenue was US$2.3bn, up 5% year-over-year, driven by growth in both the Ride Performance and Clean Air product lines.

On a constant currency basis, total second quarter revenue increased 6%, outpacing flat industry production. Record high revenue in the quarter reflects a 5% increase in light vehicle revenue on the strength of the company’s global platform position.

Commercial truck revenue increased 26%, outpacing industry growth of 4%, with increases in all regions. Off-highway and speciality revenue improved 8% year-over-year on higher volumes in Europe and Japan, with North America revenue steady versus last year.

Global aftermarket revenue was roughly flat versus last year.

In constant currency, value-add revenue increased 6% versus last year and included 6% increases in both Ride Performance and Clean Air revenues. 

Tenneco expects an increase to its full-year revenue growth outlook. On a constant currency basis, the company now expects year-over-year revenue growth of 6%, outpacing estimated light vehicle industry growth by five percentage points. 

The company expects second-half 2017 value add adjusted EBIT margins to be in line with the prior year second half.

Topics in this article: ,
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