Tsakos Energy Stock Price, News & Analysis

Tenneco (NYSE: TEN) has announced that the fourth generation Mercedes-Benz C-Class will feature its new Monroe OE Solutions MCx valving system, enhancing vehicle comfort and control. The MCx valve allows independent tuning in rebound and compression, improving ride quality by addressing low-velocity vibrations. Produced in Poland and China, this technology aims to set new standards in passive damper performance. Tenneco reported full-year 2021 revenues of $18 billion, underscoring its strong market position in automotive solutions.

MOOG, a leading steering and suspension brand from Tenneco's DRiV group, announced enhancements to its Premium control arms (RK part number prefix). Key innovations include induction-hardened studs and carbon fiber-reinforced bearings, which improve strength and reduce friction. These enhancements boost structural strength and increase contaminant resistance. Additionally, many control arms come with all necessary installation hardware and a laser-etched product ID. Tenneco reported $18 billion in revenues for 2021, underscoring its strong market position.

Tenneco (NYSE: TEN) highlights the increasing demand for advanced suspension systems in light trucks and SUVs, addressing both internal combustion and electric vehicles. Their Advanced Suspension Technologies (AST) business offers semi-active suspension solutions, such as the CVSA2/Kinetic technology, designed for enhanced on- and off-road performance. The technology reduces vehicle weight and power requirements, catering to the rising market for off-road-ready vehicles. With 2021 revenues of $18 billion, Tenneco remains a key player in automotive innovation.

Tenneco (NYSE: TEN) has been honored as a Supplier of the Year by General Motors for the fifth consecutive year. This accolade was awarded during GM's 30th annual Supplier of the Year ceremony held in Phoenix, Arizona. Tenneco's Powertrain Business Group received the recognition in the Connecting Rods & Pistons category for the third successive year. GM acknowledged 134 suppliers for their exceptional performance, highlighting Tenneco's commitment to innovation and quality in an industry facing numerous challenges.

Tenneco reported a 17% increase in total revenue for 2021, reaching $18.0 billion. Adjusted net income improved to $164 million, or $1.97 per diluted share, compared to a loss in 2020. However, Q4 revenue fell 6% year-over-year, totaling $4.4 billion, with a net loss of $35 million. The company achieved significant liquidity of $2.3 billion and improved its net leverage ratio to 1.0x. Tenneco has canceled its earnings call following a definitive acquisition agreement with Apollo and will not provide financial guidance for 2022 due to the pending transaction.

Tenneco (NYSE: TEN) has agreed to be acquired by Apollo (NYSE: APO) in an all-cash deal valued at approximately $7.1 billion, including debt. The acquisition offers Tenneco shareholders a purchase price of $20.00 per share, marking a notable 100.4% premium over the closing price on February 22, 2022. The transaction has been approved by Tenneco's Board and is expected to close in the second half of 2022, pending shareholder and regulatory approvals. Tenneco will continue to operate under its brand as a private company post-acquisition.

Tenneco will report its fourth quarter and full year 2021 financial results on February 24, 2022, prior to market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results and company outlook. The earnings report will provide insights into Tenneco's financial performance, including revenues, EPS, and future guidance. Investors can access the call via webcast on the company’s investor website.

Tenneco's CVSAe electronically controlled damping system will be featured in the Lynk & Co 09 flagship SUV, marking its debut in the Chinese market. The SUV will offer both mild hybrid and plug-in hybrid versions with all-wheel drive capabilities. Tenneco’s technology promises superior ride quality and handling by adapting to road conditions using onboard sensors. The manufacturing of this system will take place at Tenneco's Changzhou plant. Tenneco is a leading automotive products manufacturer with 2020 revenues of $15.4 billion.