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Tenneco Inc (TEN.N)

TEN.N on New York Stock Exchange

50.72USD
20 Apr 2018
Change (% chg)

$-0.86 (-1.67%)
Prev Close
$51.58
Open
$51.16
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Day's Low
$50.31
Volume
152,005
Avg. Vol
138,086
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$65.50
52-wk Low
$50.31

Latest Key Developments (Source: Significant Developments)

Federal Mogul Izmit Says Tenneco Signs Agreement To Acquire Federal Mogul Sirketler Group
Wednesday, 11 Apr 2018 

April 11 (Reuters) - FEDERAL MOGUL IZMIT PISTON VE PIM URETIM TESISLERI AS ::TENNECO INC SIGNS (NOT SING) AGREEMENT TO ACQUIRE FEDERAL MOGUL SIRKETLER GROUP.TAKEOVER EXPECTED TO BE CONCLUDED IN SECOND HALF OF 2018.  Full Article

Tenneco To Buy Federal-Mogul For $5.4 Bln
Tuesday, 10 Apr 2018 

April 10 (Reuters) - Tenneco Inc::TENNECO TO CREATE TWO INDEPENDENT, PUBLIC COMPANIES WITH ACQUISITION OF FEDERAL-MOGUL.DEAL FOR A TOTAL CONSIDERATION OF $5.4 BLN.INTENTION TO SEPARATE COMBINED BUSINESSES INTO 2 INDEPENDENT, PUBLICLY TRADED COMPANIES.FEDERAL-MOGUL IS BEING ACQUIRED FROM ICAHN ENTERPRISES L.P..DEAL TO BE FUNDED THROUGH CASH, TENNECO EQUITY AND ASSUMPTION OF DEBT.INTENTION TO SEPARATE COMBINED BUSINESSES THROUGH A TAX-FREE SPIN-OFF TO SHAREHOLDERS.ACQUISITION EXPECTED TO BE VALUE ACCRETIVE AND GENERATE SYNERGY OPPORTUNITIES OF AT LEAST $200 MLN IN ANNUAL EARNINGS.TO BUY FEDERAL-MOGUL THROUGH $800 MLN IN CASH, 5.7 MLN SHARES OF TENNECO CLASS A COMMON STOCK, AMONG OTHERS.PUT IN PLACE COMMITTED DEBT FINANCING TO FUND DEAL THAT WILL REPLACE EXISTING SENIOR CREDIT FACILITIES,SOME SENIOR FACILITIES AT FEDERAL-MOGUL.TO BUY FEDERAL-MOGUL ALSO THROUGH 23.8 MLN SHARES OF NON-VOTING TENNECO CLASS B COMMON STOCK AND ASSUMPTION OF DEBT.CAN REDUCE NUMBER OF SHARES OF CLASS B NON-VOTING STOCK BY UP TO 7.3 MLN SHARES, INCREASE CASH CONSIDERATION PROPORTIONATELY AT DEAL CLOSING.DEAL INCLUDES SEPARATION OF AFTERMARKET & RIDE PERFORMANCE AND POWERTRAIN TECHNOLOGY COMPANIES.WITH DEAL, AFTERMARKET AND RIDE PERFORMANCE COMPANY WILL INCLUDE TENNECO RIDE PERFORMANCE AND FEDERAL-MOGUL MOTORPARTS.WITH DEAL, POWERTRAIN TECHNOLOGY COMPANY WILL INCLUDE TENNECO CLEAN AIR AND FEDERAL-MOGUL POWERTRAIN.  Full Article

Tenneco Q3 adjusted earnings per share $1.67
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Tenneco Inc :Tenneco reports third quarter 2017 results.Q3 earnings per share $1.45.Q3 revenue $2.3 billion versus i/b/e/s view $2.23 billion.Q3 adjusted earnings per share $1.67.Sees q4 revenue up about 7 percent.Q3 earnings per share view $1.59 -- Thomson Reuters I/B/E/S.Tenneco inc- ‍on a constant currency basis, total revenue increased 6% to $2.223 billion in quarter​.tenneco-‍in q4, co sees y-o-y revenue growth about 7%, or 3% in constant currency, outpacing estimated light vehicle industry production growth of 1%​.Tenneco inc - ‍for fy, co sees revenue growth of about 7%, in constant currency 6%, outpacing estimated light vehicle industry production growth of 2%​.  Full Article

Tenneco Inc files amendment to its 10-Q - SEC filing
Saturday, 9 Sep 2017 

Sept 8 (Reuters) - Tenneco Inc :Tenneco Inc <<>> files amendment to its Form 10-Q with U.S. SEC - SEC filing.Tenneco - In preparing consolidated financial statements for quarter ended June 30, 2017, co identified deficiencies in its internal control over financial reporting.Tenneco Inc - Deficiencies resulted in a material weakness in co’s internal control over financial reporting in China as of June 30, 2017.Tenneco Inc - Specifically, co did not have people with appropriate authority and experience in key positions in China to ensure adherence to co's policies and US GAAP.Tenneco Inc - Deficiencies relates to payments received from suppliers by certain purchasing and accounting personnel at co’s China subsidiaries.Tenneco Inc - Material weakness identified caused co to reevaluate its previous conclusions on internal control over financial reporting as of Dec 31, 2016.Tenneco Inc - Evaluated errors and concluded that they did not result in a material misstatement of previously issued consolidated financial statements.  Full Article

Tenneco will establish reserve of $132 mln in its Q2 2017 financial results for settlement costs​
Saturday, 8 Jul 2017 

July 7 (Reuters) - Tenneco Inc ::Tenneco inc - ‍tenneco will establish a reserve of $132 million in its Q2 2017 financial results for settlement costs​.Tenneco Inc says Tenneco expects to obtain final leniency from doj in near future - sec filing.Tenneco - continues to take actions to minimize exposure to matters pertaining to antitrust investigation, including engaging in settlement discussions.  Full Article

Tenneco Q3 adjusted earnings per share $1.53
Friday, 28 Oct 2016 

Tenneco Inc : Tenneco reports third quarter 2016 results . Q3 adjusted earnings per share $1.53 . Q3 revenue $2.1 billion versus i/b/e/s view $2.12 billion . Q3 earnings per share view $1.49 -- Thomson Reuters I/B/E/S . Q3 earnings per share $3.21 . Sees Q4 revenue up 3 percent . Tenneco Inc - for full year, Tenneco expects to outpace aggregate industry production by 3% for total revenue growth of 6% versus a year ago. . Tenneco Inc sees revenue growth outpacing industry production in 2017 and 2018 as indicated in Tenneco's January 2016 revenue estimates . Tenneco Inc - expect to deliver full-year margin improvement in 2016 . Tenneco Inc sees continued revenue growth in Q4 .Q4 revenue view $2.11 billion -- Thomson Reuters I/B/E/S.  Full Article

Tenneco Q2 adjusted earnings per share $1.78
Friday, 29 Jul 2016 

Tenneco Inc : Tenneco reports second quarter 2016 results . Q2 adjusted earnings per share $1.78 . Q2 earnings per share $1.49 . Q2 earnings per share view $1.61 -- Thomson Reuters I/B/E/S . Q2 revenue view $2.24 billion -- Thomson Reuters I/B/E/S . Total revenue in Q2 was $2.2 billion, up 4 percent year-over-year . In Q3, Tenneco expects to outpace aggregate industry production by 2 percentage points . Sees Q3 revenue up 7 percent .For full year, company continues to expect total revenue growth of 6 percent year-over-year.  Full Article

Tenneco announces results for the tender offer for its 6 7/8% senior notes due 2020
Tuesday, 14 Jun 2016 

Tenneco Inc: Tenneco announces results for the tender offer for its 6 7/8% senior notes due 2020 and the redemption of all remaining 6 7/8% senior notes due 2020 .Redeem all of 2020 notes that remain outstanding following settlement of tender offer at a redemption price of 103.438% of principal amount.  Full Article

Tenneco commences offer for outstanding $500 mln 6 7/8 pct senior notes due 2020
Monday, 6 Jun 2016 

Tenneco Inc : Commenced a cash tender offer for any and all of its outstanding $500 million 6 7/8% senior notes due 2020 .Tenneco commences tender offer for its 6 7/8% senior notes due 2020.  Full Article