LAKE FOREST, Ill.—Tenneco Inc., the supplier of emission-control and ride-control systems, reported sharply higher first-quarter profits.
Net income during the first three months of the year was $54 million, or 88 cents per diluted share, up 80 percent from $30 million, or 49 cents per diluted share, in the first quarter of 2012.
Revenue for the first quarter declined to $1.90 billion this year from $1.91 billion during the same period last year.
The company said revenue from the Clean Air division increased to $1.30 billion from $1.29 billion because of higher Asia Pacific volumes—driven mainly on the strength of light-vehicle production in China.
Revenue from the Ride Performance division fell to $607 million from $627 million a year ago, largely because of weaker light- and commercial-vehicle business in Europe and lower commercial-vehicle revenue in North America, the company said.
Tenneco ranks No. 34 on the most recent Automotive News list of the top 100 global suppliers with worldwide parts sales to automakers of $5.9 billion in 2011.