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Tenneco Inc. (TEN) is a prominent global designer, manufacturer, and marketer of automotive products for both original equipment and aftermarket customers. With 2019 revenues hitting $17.5 billion and a workforce of approximately 78,000 employees across more than 300 sites worldwide, Tenneco stands as a cornerstone in the automotive industry.
Tenneco operates through four primary business groups: Motorparts, Ride Performance, Clean Air, and Powertrain. Each division contributes to the company's mission of advancing global mobility by delivering cutting-edge technology solutions. These solutions cater to a diverse range of markets including light vehicles, commercial trucks, off-highway, industrial applications, motorsport, and the aftermarket.
The Motorparts group is dedicated to manufacturing and marketing a comprehensive range of products for vehicle maintenance and repair, ensuring longevity and performance. The Ride Performance division focuses on developing suspension and braking systems that enhance vehicle stability and comfort.
Through the Clean Air division, Tenneco provides advanced emissions control solutions that help in reducing pollutants from vehicles, contributing to a cleaner environment. The Powertrain segment specializes in engine components and systems that improve fuel efficiency and reduce emissions, supporting the demand for more sustainable transportation solutions.
Recent achievements of Tenneco include strategic partnerships that bolster their product offerings and market reach. The company is heavily invested in innovation, consistently working on projects that drive technological advancements in the automotive sector. Financially, Tenneco maintains a robust position with substantial revenues and a global presence that underscores its significance in the industry.
For the latest updates and in-depth information on Tenneco's performance, events, and developments, stay connected to their official news releases and investor relations communications.
Tenneco will report its fourth quarter and full year 2021 financial results on February 24, 2022, prior to market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results and company outlook. The earnings report will provide insights into Tenneco's financial performance, including revenues, EPS, and future guidance. Investors can access the call via webcast on the company’s investor website.
Tenneco's CVSAe electronically controlled damping system will be featured in the Lynk & Co 09 flagship SUV, marking its debut in the Chinese market. The SUV will offer both mild hybrid and plug-in hybrid versions with all-wheel drive capabilities. Tenneco’s technology promises superior ride quality and handling by adapting to road conditions using onboard sensors. The manufacturing of this system will take place at Tenneco's Changzhou plant. Tenneco is a leading automotive products manufacturer with 2020 revenues of $15.4 billion.
Monroe recently expanded its parts coverage, now offering new part numbers for over 8 million vehicles globally, including light commercial fleet vehicles and SUVs. Notably, four new part numbers for the Monroe Magnum Strut Assembly target more than 850,000 Ford Transit LCVs. Additionally, seven new OESpectrum shocks and struts are available for over 1.4 million vehicles, enhancing ride quality and performance. Monroe aims to provide exclusive options for technicians, particularly in the LCV and CV markets.
Tenneco will participate in the Barclays Global Automotive and Mobility Tech Conference on November 17, 2021, with a virtual fireside chat starting at 9:20 a.m. Eastern. Executives Brian Kesseler and Matti Masanovich will discuss the company's outlook and strategy. The live webcast can be accessed via the Investors section of Tenneco's website, with a replay available until December 17, 2021. Tenneco reported revenues of $15.4 billion in 2020 and employs approximately 73,000 team members.
Tenneco reported a third-quarter revenue of $4.3 billion, a 2% increase year-over-year, despite a 20% decline in industry light vehicle production. Net earnings stood at $15 million or $0.17 per diluted share, improving from a net loss of $499 million in the prior year. However, third-quarter EBIT fell to $125 million, and adjusted EBITDA decreased to $279 million. The company updated its FY2021 revenue guidance to $17.75 – 17.85 billion and adjusted EBITDA to $1.25 – 1.28 billion and emphasized ongoing cost reduction efforts.
Tenneco's electronic suspension technology, CVSAe, is set to debut in China with the ZEEKR 001 premium electric shooting brake. This marks the first application of CVSAe technology manufactured in China for a major automaker. Developed by Tenneco's Advanced Suspension Technology unit, CVSAe enhances ride comfort and handling, having already been adopted by European manufacturers with over 20 million units delivered. The technology continuously adapts to road conditions, offering multiple driving modes. Production of CVSAe dampers will take place at Tenneco's facility in Changzhou, China.
Rancho, a brand under Tenneco's DRiV group, has expanded its monotube shock product line with the RS7MT, designed for enhanced on- and off-road handling. The RS7MT features a two-inch monotube body, offering superior temperature endurance (-40 to 248°F), and includes a dirt wiper sealing system to combat contamination. Available for select Jeep, Chevrolet, Ford, and Toyota models, each RS7MT shock comes with a Limited Lifetime Warranty. The product will be showcased at SEMA 2021, indicating active involvement in the aftermarket sector.
Rancho Performance Suspension and Shocks is showcasing two custom builds at the 2021 SEMA Show in Las Vegas: a Jeep Wrangler Rubicon and a Ford Bronco. The Wrangler features the new RS7MT shocks and a 3.5-inch Crawler suspension system, tailored for off-road performance. The Bronco build highlights a 3-inch suspension system with RS9000XL struts and incorporates various Rancho rockGEAR products. Both vehicles are designed for extreme off-road capabilities and reflect Rancho's commitment to innovation in suspension systems, enhancing their market presence under Tenneco's DRiV business group.
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