) announced that it has received the 2012 supplier innovation
award from Ill-based manufacturer of agricultural machinery, John
Deere. The award was a recognition for the company in developing
an integrated selective catalytic reduction (SCR) and mixing
system, which will be incorporated into the Tier 4 Final diesel
Initiated in 2010, the supplier innovation award is given to
suppliers to encourage them for their innovative product or
service and to accredit suppliers for their creativity. The award
is given based on four criteria namely - creativity, feasibility,
collaboration, and bottom-line impact.
Tenneco is one of the global suppliers of John Deere. Tenneco has
been supplying diesel aftertreatment products, including diesel
oxidation catalysts (DOC) and diesel particulate filters (DPF)
for certain Tier 4 interim applications, to John Deere since
Tenneco will work together with John Deere on aftertreatment
technology for reducing nitrogen oxides (NOx) and maintaining
emissions standards. Tenneco plans to strengthen its clean air
technology portfolio to support the customers to comply with the
strict emission standards.
Tenneco, a Zacks Rank #3 (Hold) stock, reported an adjusted
profit of $40.0 million or 66 cents per share in the fourth
quarter 2012, up 25% from $32.0 million or 53 cents in the
corresponding quarter a year ago. However, earnings missed the
Zacks Consensus Estimate by 2 cents.
Revenues decreased 1.7% to $1.75 billion, missing the Zacks
Consensus Estimate of $1.78 billion. Excluding substrate sales
and currency impact, revenues increased 1.9% to $1.39 billion.
The year-over-year increase in revenues was attributable to a
rise in sales volume of light vehicles in North America and China
and higher North American aftermarket sales.
Few stocks that are performing well in the industry where Tenneco
STRATTEC Security Corporation
). Strattec Security and Gentherm are Zacks Rank #1 (Strong Buy)
stocks while Oshkosh carries a Zacks Rank #2 (Buy).
OSHKOSH CORP (OSK): Free Stock Analysis
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