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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.
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.
Tenneco (NYSE: TEN) will release its third quarter 2021 financial results before the market opens on November 5, 2021. A conference call is scheduled for 9:30 a.m. ET on the same day to discuss these results and provide an outlook for the company. Tenneco is a leading automotive product manufacturer with revenues of $15.4 billion in 2020 and employs approximately 73,000 individuals across more than 270 sites globally.
Investors can access the call via a live webcast or telephone, with registration details provided.
On October 6, 2021, Monroe, a brand under Tenneco's (NYSE: TEN) DRiV group, launched a revamped website aimed at improving user experience. The new site features enhanced navigation, easier product searches through a 'Find My Part' tool, and technical resources such as 'Shocks 101' and Tech Tips. Notable updates include a new product section tailored to vehicle specifications and streamlined access to essential information for both consumers and technicians. Monroe's site supports the brand's goal to deliver superior ride control products.
Garage Gurus, part of Tenneco's DRiV group, is sponsoring the inaugural U.S. Auto Tech National Championship, aimed at identifying top automotive technicians. The event will feature in-person qualifying competitions in six U.S. cities, culminating in a final championship in Nashville on December 13-14, 2021. Participants can earn over $200,000 in cash and prizes, with $40,000 awarded to first-place winners in both professional and student categories. This initiative supports skills development for current and future technicians in the automotive aftermarket industry.
Garage Gurus®, part of Tenneco's DRiV group, has announced the winners of its 2021-2022 Automotive Technical Scholarship Program. Twelve students, all pursuing automotive education at accredited institutions, are awarded $2,500 each. This initiative contributes to addressing the shortage of automotive technicians and has committed over $200,000 since its inception in 2015. The program is designed to support the next generation of skilled service professionals, with scholarships awarded based on application reviews by ASE Master-certified technicians.
Tenneco Inc. (NYSE: TEN) has appointed Michelle A. Kumbier, former COO of Harley-Davidson, to its board of directors effective August 10, 2021. Kumbier brings valuable experience in manufacturing, product development, and strategic planning, having spent 23 years at Harley-Davidson. Her leadership and governance skills are expected to enhance Tenneco's strategic direction. Chairman Dennis J. Letham expressed confidence in her ability to contribute positively to shareholder value. Tenneco reported $15.4 billion in revenue for 2020 and operates across various automotive sectors.
Tenneco will participate in the 2021 J.P. Morgan Auto Conference virtually on August 12, 2021, beginning at 9:20 a.m. Eastern. Key executives, including CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird, will provide a strategic overview and discuss Tenneco's outlook. The live webcast can be accessed via the company's website, with slides available under the Events & Presentations tab. A replay will be accessible until September 12, 2021.
Tenneco (NYSE: TEN) reported a significant revenue increase of 74% year-over-year for Q2 2021, reaching $4.6 billion, with value-add revenue climbing 68% to $3.5 billion. Although the company experienced a net loss of $10 million or $(0.12) per diluted share due to one-time charges from its Accelerate+ program, adjusted net income rose to $69 million or $0.84 per share. Adjusted EBITDA skyrocketed to $356 million, and net debt is projected to fall below $4.2 billion by year-end.
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