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Tenneco Q4 profit climbs YOY

Tenneco Inc. said its fourth-quarter normalized net income amounted to $1.10 per share, compared with the S&P Capital IQ consensus estimate of $1.14 per share.

EPS climbed year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.8 million, an increase from $29.4 million in the year-earlier period.

The normalized profit margin climbed to 2.9% from 1.5% in the year-earlier period.

Total revenue rose year over year to $2.03 billion from $2.00 billion, and total operating expenses came to $1.89 billion, compared with $1.90 billion in the year-earlier period.

Reported net income increased on an annual basis to $68.2 million, or $1.18 per share, from $20.9 million, or 34 cents per share.

For the year, the company's normalized net income totaled $4.42 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.62.

EPS rose 15.0% from $3.84 in the prior year.

Normalized net income was $265.9 million, a rise of 12.0% from $237.4 million in the prior year.

Full-year total revenue decreased from the prior-year period to $8.21 billion from $8.38 billion, and total operating expenses fell year over year to $7.62 billion from $7.84 billion.

The company said reported net income increased 10.0% year over year to $247.4 million, or $4.11 per share, in the full year, from $224.9 million, or $3.64 per share.