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Tenneco Trades Sharply Higher After Q2 Earnings Beat

Tenneco Trades Sharply Higher After Q2 Earnings Beat

Tenneco (NYSE: TEN) shares are trading higher after the company reported better-than-expected second-quarter earnings and sales results.

The company reported quarterly earnings of $1.20 per share, which beat the analyst consensus estimate of 93 cents by 29.03%. This is a 37.5% decrease over earnings of $1.92 per share from the same period last year.

Tenneco reported quarterly sales of $4.504 billion, which beat the analyst consensus estimate of $4.48 billion by 0.54%. This is a 77.53% increase over sales of $2.537 billion the same period last year.

"Tenneco's revenue growth outpaced industry production by nine percentage points, driven by higher light vehicle, commercial truck and off-highway revenues," said Brian Kesseler, co-CEO. "We delivered sequential earnings improvement on flat revenue quarter to quarter, with disciplined cost management and effective synergy capture actions."

Shares were trading up 12.17% at $8.85 in Tuesday’s pre-market session. The stock has a 52-week high of $47.22 and a 52-week low of $7.62.

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