Helping to mitigate the costs incurred in the first quarter were record-high revenues of $2.57 billion, up 12 percent from the first quarter of 2017, driven by higher volumes and increases in light-vehicle, commercial-truck and off-highway programs.
Tenneco reported a 2.5 percent rise in adjusted net income in the first quarter of 2018 at $81 million, compared with $79 million last year at this time. The company said net income slid slightly to $58 million, from $59 million last year, but on a per-share basis net income improved to $1.13 from $1.09.
Additional expenses were the accelerated move of the Beijing Ride Performance plant and a $5 million warranty charge associated with the purchase. Economic impacts of the proposed steel tariff also cost the company $6 million.