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Tenneco (TEN) Provides 2017 Revenue & Production Outlook
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Tenneco Inc. recently released its 2017 revenue outlook at the Deutsche Bank Global Auto Industry Conference in Detroit. The company expects to surpass the light vehicle industry production by 4 percentage points in 2017. This will lead to a 5% increase in total revenue based on current industry production forecast and 2016 constant currency.
Tenneco has outpaced industry production by more than 3 percentage points in the last 10 years. The 2017 outlook implies that the company will be able to maintain the track record. The company expects to benefit from multiple factors in 2017 which include strong global position in light vehicle platforms, regulatory-driven Clean Air content, rising demand for advanced suspension systems and leading position in the global aftermarket.
Tenneco’s 2017 revenue estimates are based on projections of a 1% hike in the light vehicle global industry production, 2% improvement in the commercial truck global production and 2% rise in off-highway engine production in the regulated regions of North America and Europe.
For 2018 and 2019, Tenneco expects revenue growth, excluding currency impact, to improve and outpace industry production by 3–5 percentage points each year.
Tenneco is slated to release fourth-quarter 2016 results on Feb 7, 2016.
In the last one year, Tenneco’s share price increased 74.2% while the Zacks categorized Auto/Truck Original Equipment industry saw a 26.6% increase. The company benefitted from increasing global regulations in the Clean Air division and strong industry fundamentals at the Ride Performance division.
Zacks Rank & Key Picks
Tenneco currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Oshkosh Corporation (OSK - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc . Fox Factory sports a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth rate of around 16.6% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, Oshkosh and GKN carry a Zacks Rank #2 (Buy). Oshkosh has a long-term growth rate of 8.4% while the same for GKN is pegged at 6.3%.
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Tenneco (TEN) Provides 2017 Revenue & Production Outlook
Tenneco Inc. recently released its 2017 revenue outlook at the Deutsche Bank Global Auto Industry Conference in Detroit. The company expects to surpass the light vehicle industry production by 4 percentage points in 2017. This will lead to a 5% increase in total revenue based on current industry production forecast and 2016 constant currency.
Tenneco has outpaced industry production by more than 3 percentage points in the last 10 years. The 2017 outlook implies that the company will be able to maintain the track record. The company expects to benefit from multiple factors in 2017 which include strong global position in light vehicle platforms, regulatory-driven Clean Air content, rising demand for advanced suspension systems and leading position in the global aftermarket.
Tenneco’s 2017 revenue estimates are based on projections of a 1% hike in the light vehicle global industry production, 2% improvement in the commercial truck global production and 2% rise in off-highway engine production in the regulated regions of North America and Europe.
For 2018 and 2019, Tenneco expects revenue growth, excluding currency impact, to improve and outpace industry production by 3–5 percentage points each year.
Tenneco is slated to release fourth-quarter 2016 results on Feb 7, 2016.
Tenneco Inc. Price
Tenneco Inc. Price | Tenneco Inc. Quote
Price Performance
In the last one year, Tenneco’s share price increased 74.2% while the Zacks categorized Auto/Truck Original Equipment industry saw a 26.6% increase. The company benefitted from increasing global regulations in the Clean Air division and strong industry fundamentals at the Ride Performance division.
Zacks Rank & Key Picks
Tenneco currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Oshkosh Corporation (OSK - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc . Fox Factory sports a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth rate of around 16.6% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, Oshkosh and GKN carry a Zacks Rank #2 (Buy). Oshkosh has a long-term growth rate of 8.4% while the same for GKN is pegged at 6.3%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>