Tenneco's revenue rose 7.7% in the second quarter

A few days ago, Tenneco, a parts supplier, announced that its second-quarter operating income hit a record high and exceeded its previous forecast.

In the second quarter of this year, Tenneco’s operating income reached 2.07 billion U.S. dollars, up 7.7% from 1.92 billion U.S. dollars in the same period of last year. The increase in operating income was mainly due to the increase in the production of light vehicles in North America, China and South America and the increase in operating income in Europe.

Tenneco's two business divisions saw growth in operating revenue in the quarter, of which clean air business revenue reached US$1.41 billion, a year-on-year increase of 10%, and driving performance business revenue increased 2% year-on-year to US$670 million. The increase was mainly driven by higher light vehicle production in China.

Despite steady growth in operating income, Tenneco’s net profit last quarter was still falling, eroded by high tax rates, from US$87 million in the same period last year to US$63 million, a year-on-year decrease of 27.6%.

From the perspective of the overall results in the first half of this year, Tenneco’s operating income totaled US$3.97 billion, an increase of 3.6% from the same period of last year; net profit reached US$117 million, which was in line with the same period of last year, with net profit soaring by 80% year-on-year in the first quarter. To 54 million U.S. dollars.