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MarketScreener Homepage  >  Equities  >  Nyse  >  Tenneco Inc.    TEN

TENNECO INC.

(TEN)
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TENNECO INC : Costs Associated with Exit or Disposal Activities (form 8-K)

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06/30/2020 | 05:29pm EDT

Item 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES

On June 30, 2020, Tenneco Inc. (the "Company") approved a restructuring plan in connection with one of its European bearings plants whereby the Company will propose to reduce headcount, as negotiated with the works councils and unions. The Company anticipates implementing headcount reductions this year and in 2021. The Company expects these actions to be substantially completed by early 2022.

Restructuring and related charges are expected to be incurred in 2020 and 2021, in an aggregate amount of approximately $35 million. The charges are expected to be comprised of an estimated $9.5 million for post-employment benefits, including an early retirement program, $21 million of one-time termination benefits and $1.9 million for customer validation, equipment transfer and related expenditures. Additional cash expenditures of $2.5 million are expected to be spent for equipment. The project does not include any non-cash asset write-downs.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 13 929 M - -
Net income 2020 -1 212 M - -
Net Debt 2020 5 407 M - -
P/E ratio 2020 -0,52x
Yield 2020 0,08%
Capitalization 613 M 613 M -
EV / Sales 2019
EV / Sales 2020 0,43x
Nbr of Employees 78 000
Free-Float 78,9%
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Technical analysis trends TENNECO INC.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 8,86 $
Last Close Price 7,54 $
Spread / Highest target 271%
Spread / Average Target 17,5%
Spread / Lowest Target -73,5%
EPS Revisions
Managers
NameTitle
Brian J. Kesseler Chief Executive Officer & Director
Dennis J. Letham Chairman
Kenneth R. Trammell Chief Financial Officer & Executive Vice President
Charles R. Patel Chief Information Officer & Senior Vice President
Jane L. Warner Independent Director
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