Tsakos Energy Stock Price, News & Analysis

Tenneco (NYSE: TEN) reported robust financial results for Q1 2021, with total revenue reaching $4.7 billion, a 23% year-over-year increase. Net income surged to $65 million, or $0.79 per diluted share, a stark contrast to the $839 million loss in Q1 2020. The company also raised its full-year guidance, expecting revenue between $17.6-18.1 billion and adjusted EBITDA of $1.35-1.45 billion. Tenneco emphasized margin expansion and improved cash flow as key outcomes of its performance focus, contributing to a 0.4x improvement in net leverage ratio.

Tenneco will disclose its first quarter 2021 financial results on May 6, 2021, before the market opens. The company will host a conference call at 9:30 a.m. ET on the same day to discuss these results and provide an outlook. Tenneco, a major player in the automotive sector with 2020 revenues of $15.4 billion, operates through four business segments: Motorparts, Ride Performance, Clean Air, and Powertrain. Investors can access a live webcast and presentation materials via the investor section of Tenneco's website.

Eaton and Tenneco announced a joint development agreement to create an integrated exhaust thermal management system aimed at helping vehicle manufacturers meet new emission regulations. The upcoming Euro 7 standards in Europe and similar U.S. regulations will necessitate significant reductions in tailpipe emissions. This collaboration will combine Tenneco's Cold Start Thermal Unit and Eaton's TVS blower technology, enhancing the efficiency of emission control systems. Production is expected to begin in 2025, with strong interest from global manufacturers already evident.

Tenneco Inc. (NYSE: TEN) has successfully completed an $800 million offering of 5.125% Senior Secured Notes due 2029. These notes are backed by Tenneco's subsidiaries and secured by first priority interests in the majority of Tenneco's assets. The funds will be used to redeem outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024, with the redemption scheduled for April 2, 2021. The notes were sold under Rule 144A and Regulation S, catering specifically to institutional buyers and non-U.S. persons.

Tenneco Inc. (NYSE: TEN) has announced pricing for its notes offering, issuing $800 million of 5.125% Senior Secured Notes due 2029. Closing is expected on March 17, 2021. These notes will be secured by assets from Tenneco and its subsidiaries and are meant to redeem the outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024. The offering is exclusively for qualified institutional buyers and non-U.S. persons, adhering to federal securities laws. Tenneco reported $15.4 billion in revenues for 2020.

Tenneco Inc. (NYSE: TEN) announced plans to redeem its outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024 on April 2, 2021. The 2024 Secured Notes totaling €350 million will be redeemed at 102.500% of the principal amount, totaling €1,035.6944 per €1,000. The 2024 FR Secured Notes amounting to €300 million will be redeemed at 100.000%, totaling €1,010.4271 per €1,000. The redemption is contingent upon completing a new notes offering due in 2029.

Tenneco Inc. (NYSE: TEN) announced plans to offer $800 million of Senior Secured Notes due 2029, subject to market conditions. These Notes will be guaranteed by Tenneco's subsidiaries and secured by a first priority security interest in substantially all of Tenneco's assets. Proceeds will be utilized to redeem existing Senior Secured Notes due 2024. The offering is targeted at institutional buyers and will not be registered under the Securities Act. Tenneco reported $15.4 billion in revenues for 2020, showcasing its position as a leading automotive products provider.

Tenneco (NYSE: TEN) will participate in the J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference on March 3, 2021, at 9:15 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will present a strategic overview and discuss matters affecting Tenneco's future outlook. The live webcast can be accessed via the Investors section of their website, with a replay available until April 3, 2021.

Tenneco generated $15.4 billion in revenues for 2020 and employs approximately 73,000 team members across more than 270 facilities worldwide.

Tenneco reported a strong fourth quarter 2020, with revenues hitting $4.7 billion, representing a 12% year-over-year increase. The company achieved a net income of $167 million, or $2.03 per diluted share. Fourth quarter EBIT rose to $260 million, an improvement of $404 million year-over-year. The company successfully reduced net debt by $460 million, finishing the year with $4.5 billion in net debt. Tenneco forecasts full-year 2021 revenue between $17.2 and $17.8 billion.