Tenneco Q1 Profit Rises - Quick Facts

(RTTNews) - Auto parts company Tenneco Inc. (TEN) reported first-quarter 2015 net income attributable to the company of $49 million, or $0.80 per share, compared to $46 million, or $0.75 per share in the comparable quarter last year.

However, on an adjusted basis, quarterly net income totaled $54 million, or $0.88 per share, versus $56 million, or $0.91 per share, a year before. Analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue in the first quarter was $2.02 billion, down from $2.09 billion in the previous year. Excluding a negative currency impact of $160 million, revenue in the quarter was up 4% to $2.18 billion. Wall Street expected revenues of $2.04 billion for the period.

In the second quarter, global light vehicle industry production is expected to increase 3% in the regions where Tenneco operates. The company is well-positioned to leverage higher light vehicle volumes with its strong platform position with leading global OEMs. Tenneco also expects continued regulatory-driven, incremental content growth on commercial truck and off-highway programs to meet global emissions requirements, and a solid contribution from its global aftermarket business.

Excluding currency, Tenneco anticipates total revenue growth of about 5% in the second quarter.

For the full year 2015, Tenneco reaffirms its revenue guidance for total revenue growth of 5% to 8%, excluding currency.