Welcome to our dedicated page for Tsakos Energy news (Ticker: TEN), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy stock.
News about Tsakos Energy Navigation Ltd. (TEN) focuses on its activities as a diversified crude, product and LNG tanker operator listed on the New York Stock Exchange. Company press releases and related coverage highlight developments in its energy transportation business, including fleet expansion, chartering activity and financial performance.
Readers of the TEN (TEN) news page can review announcements on quarterly and nine-month results, where the company reports voyage revenues, operating income, net income, fleet utilization and contracted revenue. These releases often include commentary from management on tanker market conditions and the composition of TEN’s charter portfolio across time charters, profit-sharing arrangements, spot voyages, pool participation and other contracts.
News items also cover TEN’s fleet development, such as deliveries of new DP2 shuttle tankers, scrubber-fitted suezmax tankers, MR product tankers, LR1 tankers and VLCCs, as well as orders placed with shipyards in South Korea. The company reports long-term employment for many of these vessels with oil majors and other large counterparties, and highlights its expansion in the shuttle tanker segment, including recognition at the Lloyd’s List Greek Shipping Awards.
Investors following TEN’s news will also find updates on common and preferred share dividends, including regular quarterly dividends on Series E and Series F preferred shares and semi-annual dividends on common stock. Additional news includes features on TEN in external publications, references to its focus on operational discipline and modernization, and information on corporate governance developments such as board appointments. This page brings together these company communications so that readers can monitor TEN’s disclosures on its operations, fleet and capital structure.
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Garage Gurus®, part of Tenneco's DRiV group, has announced the winners of its 2021-2022 Automotive Technical Scholarship Program. Twelve students, all pursuing automotive education at accredited institutions, are awarded $2,500 each. This initiative contributes to addressing the shortage of automotive technicians and has committed over $200,000 since its inception in 2015. The program is designed to support the next generation of skilled service professionals, with scholarships awarded based on application reviews by ASE Master-certified technicians.
Tenneco Inc. (NYSE: TEN) has appointed Michelle A. Kumbier, former COO of Harley-Davidson, to its board of directors effective August 10, 2021. Kumbier brings valuable experience in manufacturing, product development, and strategic planning, having spent 23 years at Harley-Davidson. Her leadership and governance skills are expected to enhance Tenneco's strategic direction. Chairman Dennis J. Letham expressed confidence in her ability to contribute positively to shareholder value. Tenneco reported $15.4 billion in revenue for 2020 and operates across various automotive sectors.
Tenneco will participate in the 2021 J.P. Morgan Auto Conference virtually on August 12, 2021, beginning at 9:20 a.m. Eastern. Key executives, including CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird, will provide a strategic overview and discuss Tenneco's outlook. The live webcast can be accessed via the company's website, with slides available under the Events & Presentations tab. A replay will be accessible until September 12, 2021.
Tenneco (NYSE: TEN) reported a significant revenue increase of 74% year-over-year for Q2 2021, reaching $4.6 billion, with value-add revenue climbing 68% to $3.5 billion. Although the company experienced a net loss of $10 million or $(0.12) per diluted share due to one-time charges from its Accelerate+ program, adjusted net income rose to $69 million or $0.84 per share. Adjusted EBITDA skyrocketed to $356 million, and net debt is projected to fall below $4.2 billion by year-end.
Tenneco is leveraging over a century of powertrain expertise to investigate synthetic fuels (e-fuels) as a solution for reducing emissions from internal combustion engines (ICE). Their Powertrain business group is collaborating on the NAMOSYN project with various academic and industry partners to assess the technical and commercial viability of e-fuels. This initiative aims to enable climate-neutral transportation while using existing fuel infrastructure. Initial tests indicate a potential reduction of over 50% in harmful emissions, making e-fuels a promising near-term technology for sustainable mobility.
Tenneco (NYSE: TEN) is set to release its second quarter 2021 financial results on August 5, 2021, before market opening. A conference call will follow at 9:30 a.m. ET to discuss the results and future outlook. The company, which achieved $15.4 billion in revenues for full year 2020 and employs approximately 73,000 people across over 270 sites globally, aims to highlight advancements in automotive technology during the call. Live access to the call will be available through Tenneco's investor website.
Tenneco's Powertrain business group has been recognized as a GM Supplier of the Year for the second consecutive year during General Motors' 29th annual awards. Out of 122 suppliers from 16 countries, Tenneco distinguished itself by meeting GM's rigorous performance criteria, thereby contributing to their advanced automotive technologies. CEO Brian Kesseler emphasized the award's importance amid challenges faced during the past year, reflecting Tenneco's ongoing commitment to quality and innovation in fuel economy and emission reduction.
Rancho®, a brand under Tenneco's DRiV group, has launched the RS7MT™, a new monotube shock designed for select Jeep applications, enhancing on- and off-road handling. Key features include an integrated dirt wiper sealing system, a hardened piston rod, and a two-inch monotube body that effectively manages temperature ranges between -40 to 248° Fahrenheit. The RS7MT also includes application-specific mounting and is covered by a Limited Lifetime Warranty and 90-day Performance Guarantee. Tenneco's overall revenues for 2020 were $15.4 billion, supporting a workforce of approximately 73,000 globally.
Tenneco Inc. (NYSE: TEN) will participate in the 2021 Deutsche Bank Global Auto Industry Conference on June 17, 2021, with a webcast starting at 10:30 a.m. Eastern. CEOs Brian Kesseler and CFO Matti Masanovich will discuss strategic insights and factors affecting Tenneco's outlook. The webcast can be accessed via the Investors section of their website, and a replay will be available until July 17, 2021. Tenneco reported $15.4 billion in revenue for 2020 and has around 73,000 employees across over 270 sites globally.