|
|
Type
|
Public |
---|---|
Traded as | NYSE: TEN |
Industry | Auto parts |
Founded | 1940 |
Headquarters | Lake Forest, Illinois |
Key people
|
Brian Kesseler, Chairman & CEO Kenneth R. Trammell, CFO James Harrington, Senior Vice President and General Counsel |
Products | Ride control, emissions control, elastomers |
Revenue | $8.599 Billion (2016) |
Number of employees
|
31,000 (2016) |
Website | http://www.tenneco.com/ |
Tenneco (formerly Tenneco Automotive and originally Tennessee Gas Transmission Company) is an American Fortune 500 company that has been publicly traded on the NYSE since November 5, 1999 under the symbol TEN. Tenneco, with headquarters in Lake Forest, Illinois, United States is an automotive components original equipment manufacturer and an after-market ride-control and emissions products. In 2011 it reported a revenue of $7.2 billion.
Tenneco, Inc.'s origin was in the Chicago Corporation, established about 1930. Tennessee Gas and Transmission Company (completely separate) had been formed in 1940.
A shortage of fuel for World War II defense industries in the Appalachian area developed when industrial production was increased. The nuclear development operations of the Manhattan Project at Oak Ridge, Tennessee consumed huge quantities of Tennessee Valley Authority electrical power that would have otherwise been available to other industrial operations. The Chicago Corporation was able to acquire a Federal Power Commission (FPC) license to build a pipeline from Texas to Appalachia, eventually expanding to the largest natural gas pipeline network in the United States. These pipelines were acquired by El Paso Corporation in 1996, and are now owned by Kinder Morgan and others.
In the 1950s, the company acquired existing oil companies, including Sterling Oil, Del-Key Petroleum, and Bay Petroleum. The Tennessee division of the Chicago Corporation acquired Tennessee Gas Transmission Company in 1943 to build a natural-gas pipeline 1,265 miles (2,036 km) from Texas to West Virginia. The first line was completed in October 1944. It was followed by three additional pipelines totaling 3,840 miles (6,180 km) during the next 15 years which provide gas to New York and New Jersey.
In 1966, Tennessee Gas was incorporated as Tenneco, Inc. Tenneco expanded into a number of business ventures as a result of diversification. Tenneco bought Houston Oil & Minerals Corporation in the late 1970s. Tenneco owned and operated a large number of gasoline service stations, but all were closed or replaced with other brands by the mid-1990s.
In the 1970s, Tenneco purchased 53% of J.I. Case when they purchased its owner Kern County Land Company, the agricultural equipment manufacturer based in Racine, Wisconsin, USA. In 1972, Tenneco purchased UK-based David Brown Tractors Ltd. and merged it with the J.I. Case business. In 1984, Case parent Tenneco bought selected assets of the International Harvester agriculture division and merged it with J.I. Case. All agriculture products are first labeled Case International and later Case IH. Tenneco purchased the articulated 4WD manufacturer Steiger Tractor in 1986, and merged it into Case IH.
The corporate direction was to buy failing companies, and work to develop them into market leaders. This worked well with Newport News Shipbuilding, but failed miserably with the various tractor companies, probably due in large part to the economy at the time. By 1988, the company was losing $2 million per day. After being pressured by the banks, it was decided to sell off the oil business. Tenneco Oil Exploration Company was split up and sold off to multiple buyers.
By 1994, Tenneco decided to begin getting out of the ag business and agreed to sell 35% of the now named Case Corporation. In 1996, the spin-off of Case Corporation was completed. The company was acquired by Fiat in 1999 and merged with New Holland Agriculture to form CNH Global.
Tenneco Inc. emerged from a conglomerate consisting of six unrelated businesses: shipbuilding, packaging, farm and construction equipment, gas transmission, automotive, and chemicals. The automotive division was spun off from Tenneco, Inc. in 1991 along with the packaging, energy, natural gas, and shipbuilding divisions. All businesses except automotive and packaging were disposed of between 1994 and 1996 (through public offerings, sales, spin-offs and mergers). In 1999, Tenneco Packaging was spun off and renamed to Packaging Corporation of America (Pactiv Corporation).
Since the 1960s Tenneco Automotive sold mufflers (UK: silencers) in Europe, including through the chain "Pit Stop" in Germany. The group bought a German factory in Virnheim in 1969, Swedish Starla in 1974 and French Bellanger and English Harmo Industries in 1976 and Danish Lydex in 1978. More acquisitions followed.
On October 28, 2005 the name was changed from Tenneco Automotive to Tenneco.
Tenneco (under the Tenneco Automotive name) sponsored CART's Detroit Grand Prix from 1999 until the race's cancellation after 2001.
Tenneco is a multi-national corporation with 93 manufacturing facilities in 26 countries located on 6 continents, with major centers of operations in North America, Europe, Australia and Asia. There were 30,000 employees in 2016. The North American manufacturing facilities are located in Arkansas, Illinois, Indiana, Michigan, Missouri, Tennessee, Georgia and Ohio; the corporate headquarters is located in Lake Forest, Illinois, European facilities in Belgium, Poland, Czech Republic, Germany, UK, France, Spain and Portugal, with headquarters located in Belgium, Asian facilities include in India, China, Singapore and Japan, Australian Facilities are in Sydney, Morea (New Zealand) and Clovelly Park and African Facility includes South Africa's Port Elizabeth.
Tenneco owns the following brands:
These are sold to over 500 after-market customers including retailers and wholesalers and to more than 25 OEMs, including Audi, Chrysler, Daimler, Enfield, Fiat, Ford Motor Company, General Motors, Honda, Navistar International, Jaguar Cars, Mahindra & Mahindra, Maruti Suzuki, Mazda, Mitsubishi, Nissan, Porsche, PSA Peugeot Citroën, Renault, Škoda, Suzuki, Tata, Toyota, TVS, Volkswagen Group, Volvo, E-Z-GO, and CLUB CAR.
Period | Date | Adjusted Actuals EPS | GAAP EPS |
---|---|---|---|
Q3 2022 | 2022-11-03 | Future report Set alerts | |
Q2 2022 | 2022-08-04 | -0.82 | -0.82 |
Q1 2022 | 2022-05-05 | -0.11 | -0.11 |
Q4 2021 | 2022-02-23 | -0.11 | -0.11 |
Q3 2021 | 2021-11-05 | 0.17 | 0.17 |
Q2 2021 | 2021-08-05 | 0.00 | 0.00 |
Q1 2021 | 2021-05-06 | 1.09 | 1.09 |
Q4 2020 | 2021-02-24 | 1.68 | 1.68 |
Q3 2020 | 2020-11-02 | 0.33 | -6.12 |
Q2 2020 | 2020-08-06 | -2.15 | -4.30 |
2016-05-22 | Reiterated Rating | Morgan Stanley | Sell | |
2016-05-03 | Reiterated Rating | Goldman Sachs | Neutral to Neutral | $46.00 to $57.00 |
2016-05-03 | Reiterated Rating | Goldman Sachs Group Inc. | Neutral to Neutral | $46.00 to $57.00 |
2016-04-27 | Boost Price Target | RBC Capital | Sector Perform | $47.00 to $58.00 |
2016-04-27 | Downgrade | Wells Fargo | Outperform to Market Perform | $54.50 to $57.50 |
2016-04-27 | Boost Price Target | Royal Bank Of Canada | Sector Perform | $47.00 to $58.00 |
2016-04-27 | Downgrade | Wells Fargo & Co. | Outperform to Market Perform | $54.50 to $57.50 |
2016-02-11 | Upgrade | Barclays | Equal Weight to Overweight | $50.00 to $55.00 |
2016-02-11 | Upgrade | Barclays PLC | Equal Weight to Overweight | $50.00 to $55.00 |
2016-02-10 | Boost Price Target | Goldman Sachs | Neutral | $41.00 to $46.00 |
2016-02-10 | Boost Price Target | Deutsche Bank | Hold | $61.00 to $69.00 |
2016-02-10 | Boost Price Target | Deutsche Bank AG | Hold | $61.00 to $69.00 |
2016-01-25 | Boost Price Target | Deutsche Bank | Hold | $60.00 to $61.00 |
2016-01-25 | Lower Price Target | Barclays | Equal Weight | $54.00 to $50.00 |
2015-12-15 | Downgrade | RBC Capital | Outperform to Sector Perform | $62.00 to $55.00 |
2015-10-26 | Boost Price Target | RBC Capital | Outperform | $58.00 to $62.00 |
2015-10-26 | Boost Price Target | JPMorgan Chase & Co. | Overweight | $68.00 to $70.00 |
2015-10-20 | Lower Price Target | Susquehanna | $73.00 to $72.00 | |
2015-10-20 | Boost Price Target | JPMorgan Chase & Co. | $66.00 to $68.00 | |
2015-10-19 | Lower Price Target | Credit Suisse | $62.00 to $54.00 | |
2015-10-19 | Lower Price Target | Credit Suisse Group AG | $62.00 to $54.00 | |
2015-10-16 | Lower Price Target | Barclays | $58.00 to $54.00 | |
2015-10-14 | Lower Price Target | Goldman Sachs | $60.00 to $58.00 | |
2015-10-14 | Reiterated Rating | Deutsche Bank | Hold | $59.00 to $60.00 |
2015-10-07 | Lower Price Target | Deutsche Bank | Hold | $61.00 to $59.00 |
2015-08-12 | Upgrade | Goldman Sachs | Sell to Neutral | $55.00 to $60.00 |
2015-07-29 | Boost Price Target | Susquehanna | Positive | $71.00 to $73.00 |
2015-07-29 | Reiterated Rating | Deutsche Bank | Hold | $62.00 |
2015-07-17 | Lower Price Target | Susquehanna | Positive | $72.00 to $71.00 |
2015-05-05 | Boost Price Target | Deutsche Bank | Hold | $58.00 to $63.00 |
2015-04-28 | Boost Price Target | Barclays | Equal Weight | $57.00 to $63.00 |
2015-04-28 | Boost Price Target | Susquehanna | Positive | $65.00 to $72.00 |
2015-04-22 | Lower Price Target | Susquehanna | Positive | $72.00 to $65.00 |
2015-04-20 | Lower Price Target | Barclays | Equal Weight | $58.00 to $57.00 |
2015-04-20 | Lower Price Target | JPMorgan Chase & Co. | Overweight | $69.00 to $68.00 |
2015-04-02 | Initiated Coverage | Northcoast Research | Buy | $70.00 |
2015-03-11 | Reiterated Rating | Deutsche Bank | Hold | $59.00 to $58.00 |
2015-02-05 | Reiterated Rating | Deutsche Bank | Hold | $64.00 to $59.00 |
2015-02-03 | Boost Price Target | Barclays | Equal Weight | $55.00 to $58.00 |
2015-01-28 | Reiterated Rating | Deutsche Bank | Hold | $64.00 to $59.00 |
2015-01-26 | Lower Price Target | JPMorgan Chase & Co. | Overweight | $73.00 to $69.00 |
2015-01-22 | Initiated Coverage | Credit Suisse | Neutral | $60.00 |
2015-01-08 | Downgrade | Goldman Sachs | Neutral to Sell | $62.00 to $55.00 |
2014-10-28 | Reiterated | RBC Capital Mkts | Outperform | $72 to $67 |
2014-10-28 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $74.00 to $73.00 |
2014-10-28 | Lower Price Target | RBC Capital | Outperform | $72.00 to $67.00 |
2014-10-21 | Initiated Coverage | Deutsche Bank | Positive | $61.00 |
2014-10-21 | Initiated Coverage | Susquehanna | Positive | $61.00 |
2014-10-17 | Reiterated Rating | Deutsche Bank | Hold | $67.00 to $69.00 |
2014-09-22 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $75.00 to $79.00 |
2014-07-29 | Reiterated Rating | Deutsche Bank | Hold | $66.00 to $67.00 |
2014-07-22 | Boost Price Target | JPMorgan Chase & Co. | Overweight | $73.00 to $75.00 |
2014-07-14 | Lower Price Target | Goldman Sachs | $67.00 to $65.00 | |
2014-07-14 | Boost Price Target | Barclays | Equal Weight | $61.00 to $66.00 |
2014-06-13 | Downgrade | Deutsche Bank | Buy to Hold | $66.00 |
2014-06-09 | Reiterated Rating | KeyBanc | Buy | $67.00 to $77.00 |
2014-04-29 | Reiterated Rating | Barclays | Equal Weight | $61.00 |
2014-04-29 | Boost Price Target | RBC Capital | Outperform | $72.00 to $75.00 |
2014-04-22 | Reiterated Rating | JPMorgan Chase & Co. | Overweight | $73.00 |
2014-04-10 | Reiterated Rating | Barclays | Equal Weight | $55.00 to $59.00 |
2014-01-31 | Boost Price Target | Barclays | Equal Weight | $54.00 to $55.00 |
2014-01-31 | Boost Price Target | RBC Capital | Outperform | $67.00 to $72.00 |
2014-01-09 | Boost Price Target | Goldman Sachs | Neutral | $59.00 to $60.00 |
2013-12-23 | Downgrade | Ned Davis Research | Buy to Neutral | |
2013-12-13 | Reiterated Rating | Deutsche Bank | Buy | $59.00 to $65.00 |
2013-12-10 | Downgrade | RBC Capital | Top Pick to Outperform | $66.00 |
2013-12-03 | Initiated Coverage | Guggenheim | Buy | |
2013-10-30 | Boost Price Target | RBC Capital | Top Pick | $60.00 to $66.00 |
2013-10-29 | Boost Price Target | Morgan Stanley | Underweight | $35.00 to $38.00 |
2013-10-29 | Reiterated Rating | JPMorgan Chase & Co. | Buy | $66.00 |
2013-10-29 | Boost Price Target | Deutsche Bank | Buy | $56.00 to $59.00 |
2013-10-29 | Reiterated Rating | Jefferies Group | Buy | $56.00 to $62.00 |
2013-10-29 | Boost Price Target | Barclays | Equal Weight | $51.00 to $54.00 |
2013-10-21 | Boost Price Target | JPMorgan Chase & Co. | Overweight | $61.00 to $66.00 |
2013-09-27 | Boost Price Target | Deutsche Bank | Buy | $53.00 to $56.00 |
2016-05-22 | Reiterated Rating | Morgan Stanley | Sell | |
2016-05-03 | Reiterated Rating | Goldman Sachs | Neutral to Neutral | $46.00 to $57.00 |
2016-05-03 | Reiterated Rating | Goldman Sachs Group Inc. | Neutral to Neutral | $46.00 to $57.00 |
2016-04-27 | Boost Price Target | RBC Capital | Sector Perform | $47.00 to $58.00 |
2016-04-27 | Downgrade | Wells Fargo | Outperform to Market Perform | $54.50 to $57.50 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In TEN 174 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
Vanguard Group, Inc | 7.91M |
Pentwater Capital Management LP | 6.76M |
BlackRock Inc. | 5.51M |
FULLER & THALER ASSET MANAGEMENT, INC. | 5.08M |
ALPINE ASSOCIATES MANAGEMENT INC. | 2.20M |
TIG Advisors, LLC | 2.16M |
WATER ISLAND CAPITAL LLC | 1.90M |
SCHWAB CHARLES INVESTMENT MANAGEMENT INC | 1.75M |
BlackRock Institutional Trust Company, N.A. | 1.72M |
BlackRock Fund Advisors | 1.71M |
Segantii Capital Management Ltd | 1.61M |
STATE STREET CORP | 1.56M |
CITIGROUP INC | 1.44M |
GEODE CAPITAL MANAGEMENT, LLC | 1.39M |
ALLIANCEBERNSTEIN L.P. | 1.25M |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
TRAMMELL KENNETH R Exec. Vice President and CFO | 0.22% (134050) | TEN / UTI / |
Guo Peng Sr VP & Gen\'l Mgr-Asia Pacific | 0.15% (93444) | TEN / |
Kesseler Brian J Chief Operating Officer | 0.10% (62413) | JCI / TEN / |
PORTER ROGER B | 0.10% (59680) | EXR / PKG / TEN / ZION / |
Hummel Henry Senior Vice President | 0.07% (42016) | TEN / |
Sherrill Gregg M Chairman & CEO | 0.07% (41492) | ALL / SNA / TEN / |
LETHAM DENNIS J | 0.06% (33774) | EXR / TEN / |
WARNER JANE L | 0.05% (31027) | BC / MWV / RBC / TEN / |
NAIR HARI N Chief Operating Officer | 0.03% (18353) | OI / TEN / |
FREYMAN THOMAS C | 0.03% (17265) | ABT / HGR / TEN / |
YANOS NEAL Executive Vice President | 0.03% (16114) | TEN / |
Orta Cid Enrique Senior Vice President | 0.03% (15723) | TEN / |
Fornos Josep Executive Vice President | 0.03% (15404) | TEN / |
BAUER BRENT J Senior Vice President | 0.02% (12336) | TEN / |
METCALF JAMES S | 0.02% (9361) | NCS / TEN / USG / |
Charlton Michael John Senior Vice President | 0.01% (8909) | TEN / |
STECKO PAUL T | 0.01% (8693) | PKG / TEN / |
Bolt Gregg A Senior Vice President | 0.01% (8668) | QUAD / TEN / |
Pomaranski Joseph A. Sr VP & Genl Mgr-Global* | 0.01% (6746) | TEN / |
WOOD ROGER | 0.01% (6693) | BC / DAN / TEN / |
Martin Hendricks Executive Vice President | 0.01% (6575) | TEN / |
Hollar Jason M. Senior Vice President | 0.01% (5021) | TEN / |
JACKSON TIMOTHY E Executive Vice President | 0.01% (4204) | TEN / |