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Tenneco Inc. (TEN) Stock Surged 94.14% Today, Here’s Why

Tenneco Inc. (TEN) stock soared 94.14% in the pre-market trading session at the price of $19.38 after reporting its financial results for the fourth quarter and full-year 2021. Tenneco is the leading innovator, designer, producer, and seller of automotive products for aftermarket clients. The company has roughly 73,000 members working at over 270 sites globally.


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TEN Q4 2021 Earnings Report

On 23rd February 2022, TEN published its financial results for the fourth quarter and full-year ended 31st December 2021. The company calculated total revenue of $4.4B for the Q4 of 2021. It represents a drop of 6% from the same quarter of 2020. TEN has $35M in net loss during the Q4 of 2021 compared to the net income of $167M in the same period of 2020. Adjusted net loss during the Q4 of 2021 totaled $10M. The company reported $258M in cash flow from operations during the quarter.

Full-Year 2021 Financial Results

TEN has a total of $18.0B in revenue for the year ended 31st December 2021. It represents a year-over-year surge of 17%. For the full year 2021, net income was $35M, or per diluted share of $0.42. The company has a net loss of roughly $1,521M in the year 2020.

Adjusted net income totaled $164M, or per diluted share of $1.97, during the full year 2021. TEN reported $233M in cash flow from operations during the year. As of 31st December 2021, the liquidity was $2.3B, consisting of $865M in cash and $1.4B of revolving credit facility.

Management Comments

Chief executive officer of Tenneco, Brian Kesseler, remarked that they remained focused on driving strong cash generation, disciplined cost control, and operational improvement despite tough market and inflationary conditions. These driving factors had facilitated reducing net debt and net leverage ratio improvement. Their Q4 and full-year financial results indicate a powerful blend of geographic balance and diverse end markets served. The company is dedicated to designing, producing, and delivering industry-leading products to its clients, he added.

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