Tenneco has posted third-quarter net income down 27% to US$60m, with revenue rising 4% to US$2.4bn.
Third-quarter 2018 adjusted net income was US$88m compared with $88m in the third quarter of 2017.
Total revenue in the third quarter of 2018 was $2.372bn, up 4% year-over-year, with growth in the Clean Air and Ride Performance segments. On a constant currency basis, total revenue increased 7% driven by strong commercial truck and off-highway volumes and new business and incremental content on light vehicles.
On a constant currency basis, value-add revenue increased 5% to $1.776bn in 2018, significantly outpacing industry production. Clean Air and Ride Performance revenues increased 6% and 5% respectively, while Aftermarket revenue was up 1% compared to last year.
“Tenneco delivered a solid quarter of strong growth, outpacing industry production by nine percentage points, including double–digit growth in commercial truck and off-highway revenue,” said Tenneco co-CEO, Brian Kesseler.
“The strength of Tenneco’s diversified business profile helped mitigate many dynamic economic factors and I am pleased with our execution and continued focus on operational improvements and cost recoveries.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData