Tenneco Reports Second Quarter Financial Results
Tenneco Inc. (NYSE: TEN) reported second quarter net income of $87 million, or $1.42 per diluted share, versus net income of $50 million, or 81-cents per diluted share, in second quarter 2011. On an adjusted basis, net income rose to $70 million, or $1.14 per diluted share, compared with $50 million, or 81-cents per diluted share, a year ago.
Adjusted second quarter 2012 and 2011 results:
| (millions except per share amounts) | Q2 2012 | Q2 2011 | |||||||||||||||||||||||||||
| EBITDA* | EBIT | Net incomeattributable toTenneco Inc. | Per Share | EBITDA* | EBIT | Net incomeattributable toTenneco Inc. | Per Share | ||||||||||||||||||||||
| Earnings Measures | $ | 187 | $ | 137 | $ | 87 | $ | 1.42 | $ | 167 | $ | 113 | $ | 50 | $ | 0.81 | |||||||||||||
| Adjustments (reflects non-GAAP measures): | |||||||||||||||||||||||||||||
| Restructuring and related expenses | 2 | 2 | 1 | 0.02 | 2 | 2 | 1 | 0.02 | |||||||||||||||||||||
| Costs related to refinancing | - | - | 1 | 0.01 | - | - | - | - | |||||||||||||||||||||
| Net tax adjustments | - | - | (19 | ) | (0.31 | ) | - | - | (1 | ) | (0.02 | ) | |||||||||||||||||
| Non-GAAP earnings measures | $ | 189 | $ | 139 | $ | 70 | $ | 1.14 | $ | 169 | $ | 115 | $ | 50 | $ | 0.81 | |||||||||||||
| * EBITDA including noncontrolling interests (EBIT before depreciation and amortization) | |||||||||||||||||||||||||||||
In addition to the information set forth above, the tables at the end of this press release reconcile GAAP results to non-GAAP results.
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