Tenneco to Support Chevy Malibu Production - Analyst Blog
April 16 2013 - 12:30PM
Zacks
Tenneco Inc. (TEN) announced that its ride
performance and clean air technologies will be deployed in
General Motors Company’s (GM) 2013 Chevrolet
Malibu and Malibu Eco sedan. Tenneco will be supplying the
engineering and manufacturing resources for the launch of Malibu in
different global markets.
Tenneco is a global supplier of General Motors and supports the
auto manufacturer in the production of Chevy in North America,
China and Korea. It also helps GM in producing Buick Regal and
LaCrosse models in North America and China and Opel Insignia model
in Europe.
Tenneco will be supplying both the hot and cold-end emission
control systems for the 2.4L Ecotec four-cylinder engine, 2.5L
Ecotec four-cylinder engine and the new Ecotec 2.0L turbocharged
engine. It will also supply front strut modules, rear shock
absorbers and exhaust isolators to GM.
The hot-end exhaust systems for the Malibu are manufactured at
Tenneco’s Smithville, Tenn. and Seward, Nebr. facilities while
converters are supplied from the Litchfield, Mich. plant.
Tenneco produces the cold-end exhaust systems at the Cambridge,
Ontario and Seward, Nebr. plants. Ride control components are
produced in Hartwell, Ga. and Kettering, Ohio plant and exhaust
isolators are manufactured at the Suzhou, China facility. In
addition, the company’s emission control technical centers in
Edenkoben, Germany, Grass Lake, Michigan and Shanghai, China
provides engineering and system integration support
Tenneco, a Zacks Rank #2 (Buy) stock, reported an adjusted profit
of $40.0 million or 66 cents per share in the fourth quarter 2012,
up 25% from $32.0 million or 53 cents in the corresponding quarter
a year ago. However, earnings missed the Zacks Consensus Estimate
by 2 cents.
Revenues decreased 1.7% to $1.75 billion, missing the Zacks
Consensus Estimate of $1.78 billion. Excluding substrate sales and
currency impact, revenues increased 1.9% to $1.39 billion. The
year-over-year increase in revenues was attributable to a rise in
sales volume of light vehicles in North America and China and
higher North American aftermarket sales.
Few stocks that are performing well in the industry where Tenneco
operates include Gentherm Incorporated (THRM) and
Visteon Corp. (VC). Both of these companies carry
a Zacks Rank #1 (Strong Buy).
GENERAL MOTORS (GM): Free Stock Analysis Report
TENNECO INC (TEN): Free Stock Analysis Report
GENTHERM INC (THRM): Free Stock Analysis Report
VISTEON CORP (VC): Free Stock Analysis Report
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