Tenneco: 3Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Tenneco Inc. (TEN) on Friday reported third-quarter net income of $60 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $1.15. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.70 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
Tenneco: 2Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Tenneco Inc. (TEN) on Friday reported second-quarter net income of $50 million, after reporting a loss in the same period a year earlier.
The Lake Forest, Illinois-based company said it had profit of 98 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $1.92 per share.
Tenneco Inc. plans to purchase Southfield-based auto parts company Federal-Mogul LLC for $5.4 billion. Pending regulatory approval, the merged company would split into two separate companies by the end of 2019.
Ford, VeriFone and IBM climb while Tupperware slips
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday:
Ford Motor Co., up 20 cents to $11.45
Automakers rose after Chinese President Xi Jinping said he would reduce tariffs on imported cars.
VeriFone Systems Inc., up $7.78 to $22.78
The maker of payment terminals for electronic payments agreed to be acquired for $2.5 billion.
Marathon Oil Corp., up 71 cents to $17.06
Energy companies rose in tandem with the price of oil Tuesday.
This story appeared in the Chronicle on Dec. 4, 1982. The headlines and text are reprinted.
Not too long after Houston's Tenneco Inc. acquired Newport News Shipbuilding & Dry Dock Co. in 1968 the purchase looked like a mistake. For much of the 1970s, its business was in the doldrums and profit margins were slim.
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