Stock Monitor: Superior Industries Intl. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 16, 2018 / Active-Investors.com has just released a free earnings report on Tenneco Inc. (NYSE: TEN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=TEN. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 09, 2018. The auto parts maker beat top- and bottom-line expectations. Additionally, the Company provided revenue guidance for the upcoming quarter and fiscal year, as well as for fiscal years 2019 and 2020. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Superior Industries International, Inc. (NYSE: SUP), which also belongs to the Consumer Goods sector as the Company Tenneco. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=SUP
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Tenneco most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=TEN
Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2017, Tenneco's total revenues were a record $2.39 billion, up 11% compared to $2.16 billion in Q4 2016. On a constant currency basis, Tenneco's total revenues increased 7%, driven by higher volumes and incremental content on light vehicle, commercial truck, and off-highway applications. The Company's revenue numbers beat analysts' estimates of $2.29 billion.
During Q4 2017, Tenneco's value-add revenues grew 7% to $1.75 billion on a y-o-y basis. The Company's value-add revenue growth outpaced underlying industry production growth in all Original Equipment (OE) applications.
For Q4 2017, Tenneco's earnings before interest and taxes (EBIT) soared 90% to $135 million versus $71 million in Q4 2016. The Company's adjusted EBIT increased 10% to $168 million compared to $153 million in the year ago same period, driven by revenue gains in all end-market applications.
Tenneco reported a net income of $68 million, or $1.33 per diluted share, in Q4 2017 compared to $38 million, or $0.69 per diluted share, in Q4 2016. The Company's adjusted net income rose to a record $97 million, or $1.89 per diluted share, versus $90 million, or $1.63 per diluted share, in the prior year's comparable quarter. Tenneco's earnings figures beat Wall Street's estimates of $1.64 per share.
For the full year FY17, Tenneco's total revenues were a record high $9.27 billion, up 8% compared to $8.60 billion in FY16. On a constant currency basis, the Company's total revenues and value-add revenues each increased 7% to $9.19 billion and $7.02 billion, respectively, driven by stronger volumes and higher content on light vehicle, commercial truck, and off-highway applications in all regions.
For FY17, Tenneco reported a net income attributable to common shareholders of $207 million, or $3.91 per diluted share, compared to $356 million, or $6.31 per diluted share, in FY16.
Segment Results
During Q4 2017, Tenneco's Clean Air Division's value-add revenues grew 9% to $1.12 billion compared to $1.03 billion in Q4 2016. The Clean Air Division's substrate sales totaled $577 million versus $515 million in the year ago corresponding period, reflecting a growth of 15%. For Q4 2017, Tenneco's Ride Performance Division's value-add revenues totaled $696 million, up 14% compared to $613 million in Q4 2016.
For Q4 2017, Tenneco's Clean Air Division's EBIT totaled $135 million compared to $118 million in Q4 2016, representing an increase of 14%. The Company's Ride Performance EBIT was $35 million versus $54 million in the year earlier same quarter.
Cash Matters
During Q4 2017, Tenneco's cash generated by operations soared 86% to $466 million versus $251 million in Q4 2016, driven by higher earnings and improved working capital management, and also included $107 million from an additional accounts receivable securitization program established in the fourth quarter. For FY17, the Company's cash generated by operations improved 30% to $629 million compared to $484 million in FY16.
During Q4 2017, Tenneco returned $51 million to shareholders, including the repurchase of approximately 627,000 shares of common stock for $38 million, and dividend payments of $13 million. In FY17, the Company returned $222 million to shareholders, including the repurchase of approximately 2.9 million shares of common stock for $169 million, and dividend payments of $53 million.
Outlook
For the first quarter of the fiscal year 2018, Tenneco is forecasting a constant dollar total revenue growth of 3%. For FY18, the Company expects an organic growth of 5%, outpacing industry production by 3%, with increases in both the Ride Performance and Clean Air product lines.
In 2019 and 2020, Tenneco expects revenue growth to continue to outpace industry production, with the Company estimating organic growth of 6% - 8% for 2019, and 5% - 7% for 2020, including the current forecasted global light vehicle production growth of 2% in each year.
Stock Performance Snapshot
March 15, 2018 - At Thursday's closing bell, Tenneco's stock marginally dropped 0.31%, ending the trading session at $54.54.
Volume traded for the day: 376.54 thousand shares.
After yesterday's close, Tenneco's market cap was at $2.76 billion.
Price to Earnings (P/E) ratio was at 9.64.
The stock has a dividend yield of 1.83%.
The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.
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