Tsakos Energy Stock Price, News & Analysis

Tenneco (NYSE: TEN) announced the appointment of John Stroup to its Board of Directors effective September 18, 2020. Stroup, with over 30 years of diverse business management experience, currently serves as Executive Chairman at Belden, Inc. His extensive background includes leadership roles at renowned companies like Danaher and Rockwell Automation. Tenneco expects Stroup to bring fresh perspectives that will enhance value for shareholders, customers, and employees.

Garage Gurus® from Tenneco has partnered with Dobbs Tire & Auto Centers™ to enhance technical training for technicians across 41 locations. This collaboration, announced on September 9, 2020, will leverage comprehensive, instructor-led automotive training, covering topics like ABS, electronic suspension, and hybrid vehicle diagnostics. The courses will be conducted at Garage Gurus' training center in Maryland Heights, Missouri, featuring master technicians with ASE® certifications. This initiative aims to ensure Dobbs technicians are equipped with up-to-date knowledge, ultimately enhancing customer service and repair quality.

On September 1, 2020, Tenneco announced that its advanced semi-active suspension technology is featured in Volkswagen's new ID.3 electric vehicle. The CVSAe suspension adapts to road conditions using electronically controlled dampers for enhanced ride comfort. The ID.3 is built on Volkswagen's modular electric platform and offers features such as voice-activated controls and augmented reality displays. Tenneco reported $17.45 billion in revenues in 2019 and operates globally with various automotive product lines.

Tenneco (NYSE: TEN) will participate in the 2020 RBC Capital Markets Industrials Conference on September 15, 2020. The virtual presentation starts at 8:40 a.m. Eastern, featuring CEO Brian Kesseler and CFO Matti Masanovich, who will discuss Tenneco's strategic outlook. The webcast is accessible via the investor section of Tenneco's website, with slides available under 'Events & Presentations.' A replay will be available until October 15, 2020.

Tenneco will participate in the Morgan Stanley Virtual 8th Annual Laguna Conference on September 17, 2020, starting at 9:00 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will discuss Tenneco's strategic overview and outlook. The live webcast can be accessed via the investors section of Tenneco's website, with a replay available until October 17, 2020. Tenneco had $17.45 billion in 2019 revenues and employs approximately 78,000 team members globally.

Tenneco reported a significant decline in second quarter 2020 revenue of $2.6 billion, down 39% year-over-year due to the impact of COVID-19 and a 45% decrease in light vehicle production. The company experienced a net loss of $350 million, equating to $(4.30) per diluted share, primarily influenced by a $113 million non-cash charge. Despite the challenges, Tenneco maintains solid liquidity with cash balances of $1.37 billion. Looking ahead, while Q3 2020 revenue is expected to improve significantly from Q2 2020, it will remain lower than Q3 2019 results.

Tenneco Inc. (NYSE: TEN) will participate in the J.P. Morgan Auto Conference 2020 on August 11, 2020. The event will take place virtually, with a webcast starting at 9:20 a.m. Eastern. CEO Brian Kesseler will provide a strategic overview and address factors influencing Tenneco's outlook. The presentation will be accessible via the company's website, where a replay will be available until September 11, 2020. For more details, visit www.investors.tenneco.com.

Tenneco Inc. (NYSE: TEN) appointed Kevin Baird as Chief Operating Officer, effective August 3, 2020. Baird brings extensive experience from Guardian Industries, enhancing Tenneco's leadership team with his automotive and operational expertise. CEO Brian Kesseler highlighted Baird's track record in driving profitability and cash flow. The reinstatement of the COO role aims to boost margin expansion and cash generation capabilities. Baird received restricted stock units as part of his compensation, ensuring alignment with shareholder interests.