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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 its intention to offer $500 million of Senior Secured Notes due 2029, subject to market conditions. The Notes will be guaranteed by Tenneco's subsidiaries and secured by first priority security interests in substantially all assets of Tenneco and its subsidiary guarantors. The net proceeds will be used to redeem outstanding 4.875% Senior Secured Notes due 2022. The offering is targeted towards qualified institutional buyers and non-U.S. persons outside the United States.
Tenneco's (NYSE: TEN) DRiV division announces dual sponsorships aimed at empowering women in the automotive industry and supporting Northwood University. A $35,000 donation will fund the Garage Gurus Scholarship Program, creating 12 scholarships for aspiring female technicians. Since 2004, Women in Auto Care has allocated over $560,000 in scholarships. Additionally, Tenneco pledged $50,000 to help Northwood University recover from a devastating flood. These initiatives reflect Tenneco's commitment to education and addressing technician shortages within the automotive sector.
Tenneco reported third-quarter results for 2020, with revenue of $4.3 billion, a 2% decline year-over-year, while value-add revenue decreased to $3.3 billion. The company faced a net loss of $499 million, or $(6.12) per share, significantly impacted by a $523 million non-cash tax charge. Adjusted net income stood at $27 million. Meanwhile, EBIT improved to $236 million, reflecting margin expansion. Tenneco's total debt decreased to $5.8 billion, and liquidity rose to $1.8 billion. Looking ahead, they anticipate stable value-add revenue and improved EBITDA margins.
Tenneco's Öhlins Racing has been selected to provide custom suspension dampers for the Lamborghini Essenza SCV12 hyper car, which will be limited to 40 units. This hyper car boasts over 830 horsepower and features advanced twin-tube damper technology for optimized track performance. Essenza SCV12 owners will receive exclusive access to premier racing circuits and services. Tenneco, a leader in automotive products, reported revenues of $17.5 billion in 2019 and operates in over 50 countries, focusing on innovation across multiple automotive sectors.
Tenneco will participate in the 2020 Barclays Global Automotive Conference on November 18, 2020. The virtual event begins at 11:30 a.m. Eastern, featuring CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird, who will discuss the company's strategic outlook. Interested parties can access the live webcast via the Investors section of Tenneco's website, with a replay available until December 18. Tenneco is a leading automotive product manufacturer, reporting $17.5 billion in revenue for 2019.
Tenneco will participate in the Gabelli 44th Annual Automotive Symposium on November 3, 2020, with a live webcast starting at 11:00 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will discuss Tenneco's strategic outlook. Interested investors can access the webcast via the company's investor page, with presentation slides available under 'Events & Presentations'. A replay of the event will be accessible until December 3, 2020. Tenneco reported revenues of $17.5 billion in 2019.
Tenneco is set to report its third quarter 2020 financial results on November 2, 2020, before market opening, followed by a webcast conference call at 10:00 a.m. ET. The call aims to discuss the financial outcomes and other relevant matters impacting the company's outlook. In 2019, Tenneco reported revenues of $17.5 billion and employs approximately 78,000 team members across over 300 sites globally in its four business segments: Motorparts, Ride Performance, Clean Air, and Powertrain.
Garage Gurus®, a leading training platform from Tenneco's DRiV division, has relaunched its e-learning system, now featuring over 110 courses for automotive technicians. The new platform, accessible via garagegurus.tech, offers 24/7 training with enhanced navigation and progress tracking. Students can engage with ASE-certified trainers on topics including Steering, Suspension, Electrical, and HVAC. Launched in 2015, Garage Gurus aims to provide comprehensive training solutions for automotive professionals, ensuring they stay updated with evolving vehicle technologies.
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