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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 Inc. (NYSE: TEN) announced plans to offer $800 million of Senior Secured Notes due 2029, subject to market conditions. These Notes will be guaranteed by Tenneco's subsidiaries and secured by a first priority security interest in substantially all of Tenneco's assets. Proceeds will be utilized to redeem existing Senior Secured Notes due 2024. The offering is targeted at institutional buyers and will not be registered under the Securities Act. Tenneco reported $15.4 billion in revenues for 2020, showcasing its position as a leading automotive products provider.
Tenneco (NYSE: TEN) will participate in the J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference on March 3, 2021, at 9:15 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will present a strategic overview and discuss matters affecting Tenneco's future outlook. The live webcast can be accessed via the Investors section of their website, with a replay available until April 3, 2021.
Tenneco generated $15.4 billion in revenues for 2020 and employs approximately 73,000 team members across more than 270 facilities worldwide.
Tenneco reported a strong fourth quarter 2020, with revenues hitting $4.7 billion, representing a 12% year-over-year increase. The company achieved a net income of $167 million, or $2.03 per diluted share. Fourth quarter EBIT rose to $260 million, an improvement of $404 million year-over-year. The company successfully reduced net debt by $460 million, finishing the year with $4.5 billion in net debt. Tenneco forecasts full-year 2021 revenue between $17.2 and $17.8 billion.
Tenneco will participate in the 2021 Wolfe Global Auto, Auto Tech, and Mobility Conference on February 25, 2021, starting at 1:05 p.m. Eastern. CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird will provide a strategic overview and discuss factors influencing the company's outlook. The presentation will be accessible via the Investors section of Tenneco's website, with a replay available until March 25, 2021. Tenneco reported revenues of $17.5 billion in 2019 and operates in various automotive markets.
Tenneco (NYSE: TEN) will report its fourth quarter and full year 2020 financial results on February 24, 2021, before market opening. A conference call to discuss these results is scheduled for 9:00 a.m. ET the same day. The call will include insights on the company's financial performance and future outlook. Tenneco, a leading automotive product manufacturer with $17.5 billion revenues in 2019, operates across four business groups: Motorparts, Ride Performance, Clean Air, and Powertrain.
Tenneco Inc. (NYSE: TEN) announced the appointment of Thomas J. Sabatino as executive vice president, general counsel, and corporate secretary, starting February 15, 2021. With nearly three decades of experience in corporate law, Sabatino's background includes senior roles at major corporations like Aetna and Hertz. His hiring comes after Brandon Smith accepted a new position elsewhere. CEO Brian Kesseler expressed confidence in Sabatino's ability to support the company’s long-term strategic goals.
Tenneco has successfully completed its offering of $500 million in 7.875% Senior Secured Notes due 2029. These notes are backed by guarantees from Tenneco's subsidiaries and secured by first priority interests in the company’s assets. The proceeds will be used to redeem all outstanding 4.875% Senior Secured Notes due 2022 on December 14, 2020. Notably, these notes are not registered under the Securities Act and were sold to qualified institutional buyers and non-U.S. persons. Tenneco reported $17.5 billion in revenue for 2019.
Tenneco Inc. announced the pricing of its offering of $500 million aggregate principal amount of 7.875% Senior Secured Notes, set to mature in 2029. The offering, which will close on November 30, 2020, is backed by guarantees from Tenneco's subsidiaries and secured by first-priority interests in nearly all assets. Proceeds will be utilized to redeem existing 4.875% Senior Secured Notes due 2022. The notes will only be offered to qualified institutional buyers and non-U.S. persons, in compliance with relevant securities laws.
Tenneco Inc. (NYSE: TEN) announced on November 13, 2020, its intention to redeem all outstanding 4.875% Senior Secured Notes due 2022, totaling €415 million, on December 14, 2020. The redemption price is set at 101.21875% of the principal, totaling €1,020.1771 per €1,000 of Notes. Funding for this redemption will come from a new offering of senior secured notes due 2029, contingent on its completion. Following the redemption date, interest on the Notes will cease, and all related rights will terminate except for the redemption payment.
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