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.
Tenneco reported third-quarter results for 2020, with revenue of $4.3 billion, a 2% decline year-over-year, while value-add revenue decreased to $3.3 billion. The company faced a net loss of $499 million, or $(6.12) per share, significantly impacted by a $523 million non-cash tax charge. Adjusted net income stood at $27 million. Meanwhile, EBIT improved to $236 million, reflecting margin expansion. Tenneco's total debt decreased to $5.8 billion, and liquidity rose to $1.8 billion. Looking ahead, they anticipate stable value-add revenue and improved EBITDA margins.
Tenneco's Öhlins Racing has been selected to provide custom suspension dampers for the Lamborghini Essenza SCV12 hyper car, which will be limited to 40 units. This hyper car boasts over 830 horsepower and features advanced twin-tube damper technology for optimized track performance. Essenza SCV12 owners will receive exclusive access to premier racing circuits and services. Tenneco, a leader in automotive products, reported revenues of $17.5 billion in 2019 and operates in over 50 countries, focusing on innovation across multiple automotive sectors.
Tenneco will participate in the 2020 Barclays Global Automotive Conference on November 18, 2020. The virtual event begins at 11:30 a.m. Eastern, featuring CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird, who will discuss the company's strategic outlook. Interested parties can access the live webcast via the Investors section of Tenneco's website, with a replay available until December 18. Tenneco is a leading automotive product manufacturer, reporting $17.5 billion in revenue for 2019.
Tenneco will participate in the Gabelli 44th Annual Automotive Symposium on November 3, 2020, with a live webcast starting at 11:00 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will discuss Tenneco's strategic outlook. Interested investors can access the webcast via the company's investor page, with presentation slides available under 'Events & Presentations'. A replay of the event will be accessible until December 3, 2020. Tenneco reported revenues of $17.5 billion in 2019.
Tenneco is set to report its third quarter 2020 financial results on November 2, 2020, before market opening, followed by a webcast conference call at 10:00 a.m. ET. The call aims to discuss the financial outcomes and other relevant matters impacting the company's outlook. In 2019, Tenneco reported revenues of $17.5 billion and employs approximately 78,000 team members across over 300 sites globally in its four business segments: Motorparts, Ride Performance, Clean Air, and Powertrain.
Garage Gurus®, a leading training platform from Tenneco's DRiV division, has relaunched its e-learning system, now featuring over 110 courses for automotive technicians. The new platform, accessible via garagegurus.tech, offers 24/7 training with enhanced navigation and progress tracking. Students can engage with ASE-certified trainers on topics including Steering, Suspension, Electrical, and HVAC. Launched in 2015, Garage Gurus aims to provide comprehensive training solutions for automotive professionals, ensuring they stay updated with evolving vehicle technologies.
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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.