US: Tenneco posts adjusted Q3 net income up 26% to US$78m

By Simon Warburton | 28 October 2014

Tenneco has booked third quarter adjusted net income up 26% to US$78m.

Total revenue in the third quarter was up 6% year-over-year to US$2.08bn, with the increase including higher revenues in both product lines with Clean Air increasing 8% and Ride Performance up 2%. 

Excluding substrate sales, total revenue increased 5% to US$1.602bn.   The year-over-year comparison includes US$32m in negative currency.

Tenneco's OE light vehicle revenue increased 6% year-over-year, outpacing global industry light vehicle production. 

Commercial truck and off-highway revenue was up 15%, driven by Clean Air revenue growth in Europe, China and Japan, as well as higher North America Ride Performance revenue. 

Global aftermarket revenue was essentially flat versus prior year with higher revenues in both product lines in North America offset by lower revenues in the European aftermarket.