July 26 Tenneco Inc, which makes
emission control and ride control systems, posted a quarterly
profit that beat analysts' expectations, helped by higher sales
to original equipment manufacturers in the United States.
The company, which sells products for light and commercial
vehicles to original equipment and aftermarket customers
globally, said it expects "very strong" commercial vehicle
revenue growth in 2012, partially offset by slower production
Net income attributable to Tenneco rose to $87 million, or
$1.42 per share, for the second quarter, from $50 million, or 81
cents per share, a year earlier.
Excluding items, the company earned $1.14 per share.
Revenue rose 2 percent to $1.92 billion.
Revenue at Tenneco's North America original equipment
business - which contributes about 40 percent to total revenue -
rose 16 percent to $790 million.
Analysts on average had expected earnings of 97 cents per
share, excluding items, on revenue of $2.03 billion, according
to Thomson Reuters I/B/E/S.
The company's shares, which have fallen more than 40 percent
in the last year, closed at $25.45 on the New York Stock
Exchange on Wednesday.