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Tenneco Q1 profit falls 5.0% YOY

Tenneco Inc. said its normalized net income for the first quarter came to 88 cents per share, compared with the S&P Capital IQ consensus estimate of 88 cents per share.

EPS declined 5.2% year over year from 93 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $54.1 million, a decline of 5.0% from $57.0 million in the prior-year period.

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

Total revenue fell on an annual basis to $2.02 billion from $2.09 billion, and total operating expenses declined year over year to $1.90 billion from $1.97 billion.

Reported net income increased 6.8% from the prior-year period to $49.3 million, or 80 cents per share, from $46.1 million, or 75 cents per share.