Tenneco Inc. (TEN) is the leader in designing, manufacturing, and marketing automotive product line for original parts and aftermarket clients. The company manages its operations through four business groups. The company is driving progressions in international mobility via the delivery of tech-based solutions for diversified international markets.
The price of TEN stock during the regular trading on February 22, 2022, was $9.98 with a decline of 5.04%. At last check in the current market on February 23, 2022, the stock flew by 94.29%.
TEN: Key Financials
On February 23, 2022, TEN released its Q3 2021 financials ended December 31, 2021. Some of the key points are discussed below.
Revenue
Total revenue in Q4 2021 was reported to be $4.4 billion against $4.6 billion in the same quarter of 2020. The company observed a decrease of 6% year-over-year in its revenue. The company topped the analysts estimated revenue target of $4.18 billion.
EPS
Diluted net loss in the fourth quarter of 2021 was $29 million or $0.42 per share versus a net income of $186 million or $2.03 per share in the same period of 2020. The company’s EPS decreased year-over-year. Also, it missed the analysts’ estimated EPS target of $0.06.
TEN: Events and Happenings
On February 23, 2022, TEN reported its entry into a definitive contract to be purchased by funds managed by associates of Apollo with an enterprise valuation of up to $7.1 billion. On December 2, 2021, TEN announced its nomination to Newsweek’s inventory of Most Responsible Companies 2022 of the US.
On November 18, 2021, TEN updated its electronically controlled damping portfolio ‘CVSAe’ was featured on the intelligent and luxurious Lynk & Co 09 flagship SUV from Zhejiang Geely Holding Group. It was offered in MHEV and PHEV types with all-wheel drive. On November 17, 2021, TEN’s international brand from DRiV Motorparts group, Monroe introduced new part numbers to offer extended coverage to approximately eight million VIO.
On November 16, 2021, TEN’s DRiV Motorparts group received three awards for its outpaced performance in online communications and content in the yearly Automotive Communications Award program. The award was presented by Women in Auto Care. On November 10, 2021, TEN announced its management’s attendance at the Virtual Barclays Global Automotive and Mobility Tech Conference on November 17, 2021.
Conclusion
TEN downplayed by 36% from the past six months as the global economy was facing recession in the pandemic. The company is in good shape to attract investments with the current market stock incline. The recent sky-high stock price is the result of its strong financial results.
