Tenneco Reports Disappointing 1Q Results, Lowers 2019 Guidance, Postpones Spin-Off; Maintain $73 FVE
Narrow-moat-rated Tenneco, which supplies emissions control, suspension, and powertrain components and modules to the global automotive industry as well as aftermarket parts, reported disappointing first-quarter diluted earnings per share before special items of $0.52, missing by a country mile the $0.95 consensus estimate and down $1.56 versus last year. While revenue jumped 74% to $4.5 billion, including recently acquired Federal-Mogul, adjusting for currency, acquisitions, and divestitures, o...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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