Shares of automotive products maker Tenneco Inc. (TEN) are climbing more than 8% Wednesday morning after reporting better-than-expected fourth-quarter results. The company also provided first-quarter and full-year outlook better than the Street view.
Tenneco reported net income for the fourth quarter of $167 million, or $2.03 per share compared with net loss of $313 million $3.87 per share in the same quarter a year ago. On an adjusted basis, earnings were $1.68 per share.
Revenue for the quarter increased 12% year-over-year to $4.65 billion.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share on revenue of $4.3 billion for the quarter.
Looking forward to the first quarter, the company sees revenue to be in the range of $4.45 billion- $4.55 billion. The consensus estimate stands at $4.28 billion.
For the full-year, revenue is expected in the range of $17.2 billion - $17.8 billion. Analysts see revenue of $17.14 billion for the year.
TEN stock, currently at $11.56, has been trading in the range of $2.21- $12.94 in the last one year.
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