Tenneco (TEN) Tops Q3 EPS by 1c; Affirms FY11 OE Revs Outlook
Tenneco (NYSE: TEN) reported Q3 EPS of $0.67, $0.01 better than the analyst estimate of $0.66. Revenue for the quarter came in at $1.77 billion versus the consensus estimate of $1.82 billion.
Tenneco continues to launch and ramp-up production on new commercial vehicle programs in North America, Europe, China and South America. The company remains confident in its total OE revenue guidance for 2011. It now expects that commercial vehicle OE revenue will be approximately $650 million for the full year, entirely due to lower volumes related to launch timing and ramp-up schedules, primarily in the Europe segment.
Tenneco continues to launch and ramp-up production on new commercial vehicle programs in North America, Europe, China and South America. The company remains confident in its total OE revenue guidance for 2011. It now expects that commercial vehicle OE revenue will be approximately $650 million for the full year, entirely due to lower volumes related to launch timing and ramp-up schedules, primarily in the Europe segment.