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Tuesday, August 6, 2019

=Tenneco (TEN) reported earnings on Tue 6 Aug 2019 (b/o)

Tenneco beats by $0.27, reports revs in-line; guides Q3 revs below consensus; slightly lowers FY19 revs in-line

  • Reports Q2 (Jun) earnings of $1.20 per share, $0.27 better thanthe S&P Capital IQ Consensus of $0.93; revenues rose 76.7% year/year to $4.48 bln vs the $4.47 bln S&P Capital IQ Consensus.
  • Co issues downside guidancefor Q3, sees Q3 revs of $4.3-4.4 bln vs. $4.45 bln S&P Capital IQ Consensus.
    • Further, the company expects its third quarter adjusted EBITDA to be in the range of $390 mln to $410 mln, including year-over-year pro forma margin improvement of approximately 100 basis points in both the DRiV and New Tenneco divisions.
  • Co issues in-line guidancefor FY19, sees FY19 revs of $17.6-17.8 bln vs. $17.8 bln S&P Capital IQ Consensus, but down from prior guidance of $17.7-18.1 bln.
    • Co sees FY19 Adjusted EBITDA of $1,515-1,565 mln vs prior guidance of $1,500-1,620 mln
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