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Tenaris S.A. - TS STOCK NEWS

Welcome to our dedicated page for Tenaris S.A. news (Ticker: TS), a resource for investors and traders seeking the latest updates and insights on Tenaris S.A. stock.

Tenaris S.A. (NYSE: TS) is a global leader in the manufacture and supply of steel pipes and related services, primarily targeting the energy industry. As one of the largest producers of oil country tubular goods (OCTG), Tenaris plays a crucial role in the construction of oil and gas wells. The company's production facilities are strategically located in the U.S., Argentina, Mexico, and Italy, enabling it to meet the demands of a global market.

Tenaris is renowned for its premium OCTG products, which are trusted by major oil companies for use in challenging applications, including deep-water offshore wells and horizontal shale wells. These high-performance products are essential for ensuring the safety and efficiency of oil and gas extraction processes.

In addition to its core business, Tenaris has achieved significant milestones and continues to expand its operations. The company's latest news reveals strong financial performance for the fourth quarter and annual results of 2023. Tenaris has also announced a new annual dividend proposal and the second tranche of its share buyback program, reflecting its commitment to delivering value to shareholders.

Looking ahead, Tenaris is well-positioned to capitalize on market opportunities, with a positive outlook for the upcoming quarters. The company's robust cash flow and liquidity further reinforce its financial stability, allowing it to invest in future growth and innovation.

For those interested in the latest updates and developments, Tenaris provides regular financial reports and hosts conference calls to discuss its performance. These events offer valuable insights into the company's strategies and market conditions, helping stakeholders stay informed about Tenaris's progress and prospects.

Overall, Tenaris S.A. stands out as a key player in the energy sector, delivering high-quality products and services that are essential for the industry's advancement. With a strong operational foundation and a forward-looking approach, Tenaris continues to thrive in a competitive global market.

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The Brazilian Superior Court of Justice (SCJ) has ordered Tenaris's subsidiary Confab and affiliates of Ternium, part of the T/T Group, to pay Companhia Siderúrgica Nacional (CSN) indemnification related to the 2012 acquisition of a stake in Usiminas.

CSN's lawsuit argued that a tag-along tender offer should have been made to non-controlling Usiminas shareholders, offering 80% of the acquisition price per share. Initial courts dismissed CSN's claims, but the SCJ reversed its earlier decision, granting CSN indemnification potentially up to BRL 942 million (approx. $180 million).

Despite the ruling, Tenaris maintains the claims are without merit and plans to appeal the decision. The company asserts that the SCJ decision contradicts previous legal opinions and court rulings.

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Tenaris has completed the third tranche of its USD1.2 billion Share Buyback Program, purchasing 18,080,524 ordinary shares for EUR276.63 million (USD300 million) from May 13, 2024, to June 13, 2024.

As of June 14, 2024, Tenaris holds 34,447,527 ordinary shares in treasury, representing 2.96% of its total issued share capital.

The company has entered a non-discretionary buyback agreement with a primary financial institution for the fourth tranche, which begins on June 17, 2024, and ends by October 31, 2024, aiming to purchase up to USD300 million worth of ordinary shares.

These shares will be cancelled in due course.

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Tenaris S.A. announced the commencement of a USD 300 million third tranche of its USD 1.2 billion Share Buyback Program, aiming to buy back ordinary shares in the open market for cancellation. The program is executed through a buyback agreement with a primary financial institution, ensuring compliance with regulations. The third tranche starts on May 13, 2024, and ends by August 12, 2024.

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Tenaris S.A. shareholders approved all resolutions at the annual and extraordinary general meetings, including annual dividend declaration and the appointment of new directors. The Company's 2023 reports were acknowledged, and the share capital was reduced following a share buyback program.

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Tenaris S.A. completed the second tranche of its Share Buyback Program, purchasing 16,367,003 ordinary shares for €277,137,521. The company now holds 34,146,305 shares in treasury, equal to 2.89% of the total issued share capital.

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Tenaris S.A. announced its 2024 first quarter results, showing a 1% increase in net sales but a 35% decrease in net income compared to the same quarter last year. Despite lower OCTG prices in the Americas, the company's sales remained stable, with a positive net cash position of $3.9 billion. Demand for oil and gas continues to grow, but the company anticipates lower sales and margins in the second and third quarters due to declining OCTG prices in the Americas.
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Tenaris S.A. files its Annual Report on Form 20-F for 2023 with the SEC, showcasing its performance in the energy industry and industrial applications.
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Tenaris S.A. files its 2023 Annual Report and Sustainability Report, including financial and non-financial information. The reports are available on various platforms. The company will hold its Annual General Meeting of Shareholders on April 30, 2024.
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Tenaris S.A. announced a non-discretionary buyback agreement with a primary financial institution as part of its Share Buyback Program, covering up to $1.2 billion to cancel acquired ordinary shares. The buyback agreement will run from February 26, 2024, to May 24, 2024, with shares purchased under the Program to be cancelled. The purchases will comply with regulations, including the Market Abuse Regulation 596/2014.
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Tenaris S.A. announces strong financial results for Q4 2023 and full year 2023, showcasing growth in net sales, operating income, and net income. The company's performance was driven by increased sales volumes, acquisitions, and favorable market conditions. Tenaris plans to propose a dividend and continue its share buyback program in 2024.
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FAQ

What does Tenaris S.A. specialize in?

Tenaris S.A. specializes in manufacturing and supplying steel pipes and related services, primarily for the energy industry.

Where are Tenaris's production facilities located?

Tenaris's production facilities are primarily located in the U.S., Argentina, Mexico, and Italy.

What are Oil Country Tubular Goods (OCTG)?

Oil Country Tubular Goods (OCTG) are steel pipes used in the construction of oil and gas wells, essential for safe and efficient extraction.

What recent achievements has Tenaris announced?

Recent achievements include strong financial results for the fourth quarter and annual results of 2023, a new annual dividend proposal, and a second tranche of its share buyback program.

How does Tenaris support its stakeholders with updates?

Tenaris provides regular financial reports and hosts conference calls to discuss performance, strategies, and market conditions, offering valuable insights to stakeholders.

What makes Tenaris's OCTG products reliable?

Tenaris's premium OCTG products are trusted by major oil companies for their reliability in challenging applications, including deep-water offshore and horizontal shale wells.

What is the financial condition of Tenaris?

Tenaris has a robust cash flow and liquidity, ensuring financial stability and enabling future growth and innovation investments.

What outlook does Tenaris have for the future?

Tenaris has a positive market outlook for upcoming quarters, with continued growth and expansion opportunities in the energy sector.

How can shareholders stay updated on Tenaris's developments?

Shareholders can stay updated through Tenaris's financial reports, conference calls, and news releases available on the company's website.

What is Tenaris's approach to delivering shareholder value?

Tenaris demonstrates a commitment to delivering shareholder value through strong financial performance, dividend proposals, and share buyback programs.

Tenaris S.A.

NYSE:TS

TS Rankings

TS Stock Data

17.89B
1.17B
10.54%
0.8%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
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