Research Desk Line-up: Cooper-Standard Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Tenneco Inc. (NYSE: TEN), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TEN, following the Company's posting of its second quarter fiscal 2017 results on July 28, 2017. The auto parts maker exceeded top- and bottom-line expectations and also raised its fiscal 2017 revenue outlook. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Auto Parts industry. Pro-TD has currently selected Cooper-Standard Holdings Inc. (NYSE: CPS) for due-diligence and potential coverage as the Company reported on August 03, 2017, its financial results for Q2 and first half of 2017. Register for a free membership today, and be among the early birds that get access to our report on Cooper-Standard when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TEN; also brushing on CPS. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=TEN

http://protraderdaily.com/optin/?symbol=CPS

Earnings Reviewed

For the three months ended June 30, 2017, Tenneco's revenue was $2.32 billion, up 5% compared to revenue of $2.21 billion in Q2 2016. On a constant currency basis, the Company's revenue increased 6%, outpacing flat industry production and also surpassing analysts' expectations of $2.26 billion.

Tenneco's record high revenue in the quarter reflected a 5% increase in light vehicle revenue on the strength of the Company's global platform position. The Company's commercial truck revenue increased 26%, outpacing the industry's growth of 4%. Off-highway and specialty revenue improved 8% on a y-o-y basis on higher volumes in Europe and Japan, with North America revenue steady versus last year's result. Global aftermarket revenue was approximately flat compared to the previous year's result.

Tenneco reported net loss of $2 million, or $0.03 per diluted share, which included adjustments of $104 million after tax in Q2 2017. For Q2 2016, net income had been $84 million, or $1.46 per diluted share. Tenneco's adjusted net income increased to $102 million, or $1.90 per diluted share, in the reported quarter versus $100 million, or $1.75 per diluted share, in the prior year's same quarter. Net income topped Wall Street's estimates of $1.80 per share.

EBIT and EBIT Margin

For Q2 2017, Tenneco's earnings before interest, taxes and non-controlling interests (EBIT) was $28 million compared to $173 million in Q2 2016. The Company's adjusted EBIT rose to $179 million. Excluding a negative currency impact of $8 million, adjusted EBIT was $187 million for the reported quarter.

Tenneco's EBIT as a percent of revenue was 1.2% in Q2 2017; while adjusted EBIT as a percent of value-add revenue was 10.1%. The Company noted that excluding a 30 basis point currency headwind, adjusted EBIT as a percent of value-add revenue was 10.4% in the reported quarter.

Cash

During Q2 2017, Tenneco's cash generated by operations was $119 million compared with $132 million in Q2 2016, driven by increased use of cash for components of working capital. On a year-to-date basis, cash generated by operations was $110 million, reflecting a 7% increase on a y-o-y basis.

In Q2 2017, Tenneco repurchased 783,800 shares of common stock for $44 million and paid a dividend of $0.25 per share for a total consideration of $13 million. On July 12, 2017, the Company announced that its Board of Directors has declared a quarterly cash dividend of $0.25 per share on its common stock. The dividend will be payable on September 26, 2017, to shareholders of record as of September 07, 2017.

Outlook

For Q3 2017, Tenneco expects y-o-y revenue growth of approximately 7% on a constant currency basis, outpacing estimated light vehicle industry production growth by 5%. The Company anticipates minimal currency impact on the y-o-y revenue comparison in the upcoming quarter, based on exchange rates at the end of the reported quarter.

For FY17, Tenneco raised its full-year revenue growth outlook. On a constant currency basis, the Company now expects y-o-y revenue growth of 6%, outpacing estimated light vehicle industry growth by 5%. Tenneco is forecasting H2 2017 value-add adjusted EBIT margins to be in-line with H2 2016.

Stock Performance

At the close of trading session on Friday, August 11, 2017, Tenneco's stock price was slightly up 0.47% to end the day at $53.42. A total volume of 488.68 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 10.71 and have a dividend yield of 1.87%. At Friday's closing price, the stock's net capitalization stands at $2.86 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily