Tenneco 2Q Disappoints Slightly, but Stock Remains Attractively Valued; $73 FVE Unchanged
Narrow-moat-rated Tenneco reported second-quarter earnings per share before special items of $1.92. This was a $0.04 miss compared with the $1.96 consensus EPS estimate but $0.04 better than the second quarter of 2017. Revenue increased 10% to a second-quarter record of $2.5 billion versus $2.3 billion last year. Excluding slightly favorable currency translation, revenue growth would have still been healthy at 8%. Despite year-over-year revenue growth, second-quarter adjusted EBIT was off by $3 ...Tenneco designs, manufactures and sells products and services for light vehicle, commercial truck, off-highway, industrial and aftermarket customers. As a parts supplier, the company produces individual component parts for vehicles as well as groups of components that are combined as modules or systems within vehicles. These parts, modules, and systems are sold to the light vehicle and commercial truck manufacturers as well as aftermarket customers, including independent warehouse distributors, distributors, engine rebuilders, retail parts stores, mass merchants, and service chains. The company operates in four segments, consisting of the following: Clean Air, Powertrain, Motorparts, and Ride Performance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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