Tenneco first quarter net profit of $30m, or 49 cents a share, was down on the $47m and 75 cents booked the previous year after $11m in refinancing costs expected eventually to deliver savings of $20m.
Revenue increased 9% year on year to $1.912bn due to higher content and increased light vehicle production volumes.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
EBIT increased to $96m from $94m in first quarter 2011.
“With the exception of Europe where we remain cautious about the economic and market conditions, the global production forecasts in our major markets are positive for the second quarter,” the supplier said.
