Tenneco Inc. TEN reported second-quarter 2019 results, wherein adjusted earnings per share of $1.20 beat the Zacks Consensus Estimate of 93 cents. In the prior-year quarter, the company’s bottom line was $1.84.
In the reported quarter, Tenneco’s adjusted net income was $97 million compared with $96 million in second-quarter 2018.
Its quarterly revenues rose 78% year over year to $4.5 billion. Also, the company’s revenues surpassed the Zacks Consensus Estimate by 1.1%. On a constant-currency basis, revenues rose 1% from the last year. Light-vehicle industry production declined 8% in the reported quarter.
Adjusted EBITDA (income before interest expenses, income taxes, non-controlling interests and depreciation, and amortization) was $414 million compared with $233 million recorded in the prior-year quarter.
Tenneco Inc. Price, Consensus and EPS Surprise
Tenneco Inc. price-consensus-eps-surprise-chart | Tenneco Inc. Quote
The Clean Air division’s second-quarter revenues were $1.83 billion compared with the year-earlier figure of $1.69 billion.
Revenues in the Ride Performance division were $709 million compared with $506 million recorded in the year-ago quarter.
The Powertrain division’s second-quarter revenues were $1.13 billion.
The Motorparts division’s revenues were $835 million, up from $333 million generated in second-quarter 2018.
Tenneco had cash and cash equivalents of $384 million as of Jun 30, 2019, down from $697 million as of Dec 31, 2018. Long-term debt was $5.51 billion as of Jun 30, 2019, compared with $5.34 billion as of Dec 31, 2018.
For the third quarter of 2019, the company expects revenues to be $4.3-$4.4 billion. Further, adjusted EBITDA is projected to be $390-$410 million.
Tenneco revised its guidance for 2019. It expects revenues to be $17.6-$17.8 billion compared with $17.7-$18.1 billion stated earlier.
Zacks Rank & Stocks to Consider
Tenneco currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Fox Factory Holding Corp FOXF, CarMax, Inc. KMX and Gentex Corporation GNTX, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory has an expected long-term growth rate of 16.7%. In the past year, shares of the company have rallied 17%.
CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have moved up 13.6%.
Gentex has an expected long-term growth rate of 5%. In the past year, shares of the company have returned 13.9%.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CarMax, Inc. (KMX) : Free Stock Analysis Report
Fox Factory Holding Corp. (FOXF) : Free Stock Analysis Report
Gentex Corporation (GNTX) : Free Stock Analysis Report
Tenneco Inc. (TEN) : Free Stock Analysis Report
To read this article on Zacks.com click here.