Tsakos Energy Stock Price, News & Analysis

Tenneco will participate in the Barclays Global Automotive and Mobility Tech Conference on November 17, 2021, with a virtual fireside chat starting at 9:20 a.m. Eastern. Executives Brian Kesseler and Matti Masanovich will discuss the company's outlook and strategy. The live webcast can be accessed via the Investors section of Tenneco's website, with a replay available until December 17, 2021. Tenneco reported revenues of $15.4 billion in 2020 and employs approximately 73,000 team members.

Tenneco reported a third-quarter revenue of $4.3 billion, a 2% increase year-over-year, despite a 20% decline in industry light vehicle production. Net earnings stood at $15 million or $0.17 per diluted share, improving from a net loss of $499 million in the prior year. However, third-quarter EBIT fell to $125 million, and adjusted EBITDA decreased to $279 million. The company updated its FY2021 revenue guidance to $17.75 – 17.85 billion and adjusted EBITDA to $1.25 – 1.28 billion and emphasized ongoing cost reduction efforts.

Tenneco's electronic suspension technology, CVSAe, is set to debut in China with the ZEEKR 001 premium electric shooting brake. This marks the first application of CVSAe technology manufactured in China for a major automaker. Developed by Tenneco's Advanced Suspension Technology unit, CVSAe enhances ride comfort and handling, having already been adopted by European manufacturers with over 20 million units delivered. The technology continuously adapts to road conditions, offering multiple driving modes. Production of CVSAe dampers will take place at Tenneco's facility in Changzhou, China.

Rancho, a brand under Tenneco's DRiV group, has expanded its monotube shock product line with the RS7MT, designed for enhanced on- and off-road handling. The RS7MT features a two-inch monotube body, offering superior temperature endurance (-40 to 248°F), and includes a dirt wiper sealing system to combat contamination. Available for select Jeep, Chevrolet, Ford, and Toyota models, each RS7MT shock comes with a Limited Lifetime Warranty. The product will be showcased at SEMA 2021, indicating active involvement in the aftermarket sector.

Rancho Performance Suspension and Shocks is showcasing two custom builds at the 2021 SEMA Show in Las Vegas: a Jeep Wrangler Rubicon and a Ford Bronco. The Wrangler features the new RS7MT shocks and a 3.5-inch Crawler suspension system, tailored for off-road performance. The Bronco build highlights a 3-inch suspension system with RS9000XL struts and incorporates various Rancho rockGEAR products. Both vehicles are designed for extreme off-road capabilities and reflect Rancho's commitment to innovation in suspension systems, enhancing their market presence under Tenneco's DRiV business group.

Tenneco (NYSE: TEN) will release its third quarter 2021 financial results before the market opens on November 5, 2021. A conference call is scheduled for 9:30 a.m. ET on the same day to discuss these results and provide an outlook for the company. Tenneco is a leading automotive product manufacturer with revenues of $15.4 billion in 2020 and employs approximately 73,000 individuals across more than 270 sites globally.

Investors can access the call via a live webcast or telephone, with registration details provided.

On October 6, 2021, Monroe, a brand under Tenneco's (NYSE: TEN) DRiV group, launched a revamped website aimed at improving user experience. The new site features enhanced navigation, easier product searches through a 'Find My Part' tool, and technical resources such as 'Shocks 101' and Tech Tips. Notable updates include a new product section tailored to vehicle specifications and streamlined access to essential information for both consumers and technicians. Monroe's site supports the brand's goal to deliver superior ride control products.

Garage Gurus, part of Tenneco's DRiV group, is sponsoring the inaugural U.S. Auto Tech National Championship, aimed at identifying top automotive technicians. The event will feature in-person qualifying competitions in six U.S. cities, culminating in a final championship in Nashville on December 13-14, 2021. Participants can earn over $200,000 in cash and prizes, with $40,000 awarded to first-place winners in both professional and student categories. This initiative supports skills development for current and future technicians in the automotive aftermarket industry.