LAKE FOREST, Ill.—Tenneco Inc. reported an increase in second quarter net income to $81 million compared with $63 million in 2013.
Excluding restructuring costs and a tax adjustment, net income increased 31 percent to $89 million, compared with $68 million in 2013. The firm said improved results were driven by stronger production volumes, operational performance and a more favorable effective tax rate compared to 2013.
Tenneco's total revenue increased 8 percent to $2.24 billion, which includes a 6 percent year-over-year increase in light vehicle original equipment revenue, a 27 percent increase in commercial truck and off highway original equipment revenue, and a 4 percent increase in global aftermarket revenue.
“We delivered another strong performance this quarter with well-balanced revenue growth across product lines, end-markets and geographies,” said Chairman and CEO Gregg Sherril. “Our strategic imperatives for each product line and strong execution are driving this top line growth and continued profitability improvement.”