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Tenneco profit misses consensus by 19.3% in Q3

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Tenneco profit misses consensus by 19.3% in Q3

Tenneco Inc. said its third-quarter normalized net income came to $1.20 per share, compared with the S&P Capital IQ consensus estimate of $1.49 per share.

EPS climbed year over year from $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $67.4 million, a decline from $70.4 million in the prior-year period.

The normalized profit margin declined to 3.2% from 3.5% in the year-earlier period.

Total revenue climbed year over year to $2.10 billion from $2.02 billion, and total operating expenses rose on an annual basis to $1.94 billion from $1.87 billion.

Reported net income increased on an annual basis to $180.3 million, or $3.21 per share, from $52.8 million, or 87 cents per share.