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Tenneco Q1 profit climbs 10.9% YOY

Tenneco Inc. said its normalized net income for the first quarter came to $1.04 per share, compared with the S&P Capital IQ consensus estimate of $1.11 per share.

EPS increased 18.9% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $60.0 million, an increase of 10.9% from $54.1 million in the prior-year period.

The normalized profit margin increased to 2.8% from 2.7% in the year-earlier period.

Total revenue grew 5.6% year over year to $2.14 billion from $2.02 billion, and total operating expenses rose 5.3% from the prior-year period to $2.00 billion from $1.90 billion.

Reported net income rose 15.4% from the prior-year period to $56.9 million, or 99 cents per share, from $49.3 million, or 80 cents per share.