Tenneco: 1Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Tenneco Inc. (TEN) on Friday reported a loss of $839 million in its first quarter.
On a per-share basis, the Lake Forest, Illinois-based company said it had a loss of $10.34. Losses, adjusted for asset impairment costs and restructuring costs, came to 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 95 cents per share.
The auto parts maker posted revenue of $3.84 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.68 billion.
The company’s shares closed at $4.53. A year ago, they were trading at $20.40.