Tenneco Inc. (NYSE: TEN) plans to issue its third quarter 2018 earnings release before the market opens on Friday, October 26, 2018 and hold a conference call the same day at 9:00 a.m. ET. The purpose of the call is to discuss the companys results of operations for the third quarter, as well as provide updated information regarding matters impacting the companys outlook.
|News Release:||Before the market opens on Friday, October 26, 2018. The news release will be issued by Business Wire and will be emailed to the Tenneco investor distribution list. The news release will be available on the Tenneco website.|
|Conference Call:||Friday, October 26, 2018. The conference call will be hosted by Brian Kesseler, CEO (co-CEO effective October 1, 2018); Roger Wood, co-CEO (effective October 1, 2018); and Jason Hollar, EVP & CFO.|
|Time:||9:00 a.m. Eastern time|
|8:00 a.m. Central time|
|Phone Numbers:||1-866-807-9684 (domestic)|
|Pass Code:||Tenneco Inc. Call|
|Call Playback:||Available one hour following completion of the call on Friday, October 26, 2018 – through November 2, 2018.|
For a listen only broadcast, go to the companys website at www.investors.tenneco.com. Please go to the website at least 15 minutes prior to the start of the call to register and download and install any necessary audio software. Accompanying slides will be available in the investor section of our website. A replay of this webcast will be available on the Tenneco website through November 26, 2018.
Headquartered in Lake Forest, Illinois, Tenneco is one of the worlds leading designers, manufacturers and marketers of Ride Performance and Clean Air products and technology solutions for diversified markets, including light vehicle, commercial truck, off-highway equipment and the aftermarket, with 2017 revenues of $9.3 billion and approximately 32,000 employees worldwide.
On October 1, 2018, Tenneco expects to complete the acquisition of Federal-Mogul, a leading global supplier to original equipment manufacturers and the aftermarket with nearly 55,000 employees globally and 2017 revenues of $7.8 billion. Additionally, the company expects to separate its businesses to form two new, independent companies, an Aftermarket and Ride Performance company as well as a new Powertrain Technology company, in late 2019.
About the Future Aftermarket and Ride Performance Company
Following the separation, the aftermarket and ride performance company will be one of the largest global multi-line, multi-brand aftermarket companies, and one of the largest global OE ride performance and braking companies. The aftermarket and ride performance companys principal product brands will feature Monroe, Walker, CleviteElastomers, MOOG, Fel-Pro, Wagner, Champion and others. The Aftermarket and Ride Performance company would have 2017 pro-forma revenues of $6.4 billion, with 57% of those revenues from aftermarket and 43% from original equipment customers.
About the Future Powertrain Technology Company
Following the separation, the powertrain technology company will be one of the worlds largest pure-play powertrain companies serving OE markets worldwide with engineered solutions addressing fuel economy, power output, and criteria pollution requirements for gasoline, diesel and electrified powertrains. The powertrain technology company would have 2017 pro-forma revenues of $10.7 billion, serving light vehicle, commercial truck, off-highway and industrial markets.
This press release contains forward-looking statements. Words such as anticipate, expects, “will”, “continue” and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the company (including its subsidiaries). Because these forward-looking statements involve risks and uncertainties, the company’s plans, actions and actual results could differ materially. Among the factors that could cause these plans, actions and results to differ materially from current expectations are: (i) changes in automotive or commercial vehicle manufacturers’ production rates and their actual and forecasted requirements for the company’s products, including the company’s resultant inability to realize the sales represented by its awarded book of business; (ii) any change in customer demand due to delays in the adoption or enforcement of worldwide emissions regulations or any other changes in consumer demand and prices, including decreases in demand for automobiles or commercial vehicles which include the company’s products, and the potential negative impact on the company’s revenues and margins from such products; (iii) the general political, economic and competitive conditions in markets where the company and its subsidiaries operate; (iv) workforce factors such as strikes or labor interruptions; (v) material substitutions and increases in the costs of raw materials; and (vi) the company’s ability to develop and profitably commercialize new products and technologies, and the acceptance of such new products and technologies by the company’s customers. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. Additional information regarding risk factors and uncertainties is detailed from time to time in the company’s SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2017.