Tenneco Automotive has reported a quarterly loss due to restructuring and other one-time charges.
Go deeper with GlobalData
According to Reuters, the maker of shock absorbers and exhaust systems posted a first-quarter net loss of $US2 million, or 5 cents a share, compared with a profit of $1 million, or 2 cents a share, a year ago, and earned 15 cents a share in the quarter excluding such items as restructuring expenses, changeover costs for a new customer and consulting fees.
Three analysts on average had expected a profit of 6 cents a share, with estimates ranging from 5 cents to 7 cents a share, according to Reuters Research.
Tenneco said first-quarter sales rose 12% to $1.03 billion from $921 million, with the weak dollar boosting revenue by $62 million. Excluding the currency impact, revenue was up 5%, Reuters said.
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
