Tenneco: 2Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Tenneco Inc. (TEN) on Tuesday reported second-quarter profit of $26 million.
The Lake Forest, Illinois-based company said it had profit of 32 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $1.20 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The auto parts maker posted revenue of $4.5 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $4.46 billion.
Tenneco expects full-year revenue in the range of $17.6 billion to $17.8 billion.
Tenneco shares have dropped 71% since the beginning of the year. The stock has fallen 83% in the last 12 months.