Tenneco has unveiled fourth-quarter total revenue up 79% to US$4.3bn, year-over-year, driven mainly by the completion of the Federal-Mogul acquisition in 2018.

Excluding the acquisition and on a constant currency basis, revenue increased 4%, outpacing light vehicle industry production by ten percentage points.

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The out-performance was driven by volume and content growth with commercial truck and off-highway as well as light vehicle customers. Value-add revenue was US$3.6bn, up 100% compared to last year including Federal-Mogul results.

For the full year, total revenue was US$11.8bn, including Federal-Mogul revenues since 1 October.

Excluding the acquisition and the impact of currency exchange rates, Tenneco delivered full-year organic revenue growth of 6%, outpacing industry production by seven percentage points, driven by 24% growth in commercial truck and off-highway and 5% light vehicle growth versus last year.

Value-add revenue was US$9.3bn, up 31% compared to last year including Federal-Mogul results. The company anticipates 2018 adjusted earnings will be near the low end of the guidance range previously provided for the fourth quarter.

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“Tenneco’s organic growth continued in the fourth quarter, outpacing industry production by ten percentage points, supported by the strength of our diverse business profile in terms of products, geographic regions and end-markets served,” said Tenneco co-CEO, Brian Kesseler.

“We closed the Federal-Mogul transaction, accelerating the transformation of the combined businesses into two purpose-built, industry leading companies and our acquisition of Öhlins Racing will fuel the growth of advanced suspension technology and enhance our portfolio in broader mobility markets.”

On a pro forma basis, the company expects 2019 constant dollar revenue growth in the range of 4% to 5%, outpacing light vehicle industry production by six to seven percentage points. Global light vehicle production is forecast to be down 2% in 2019.