Welcome to our dedicated page for Tenaris news (Ticker: TS), a resource for investors and traders seeking the latest updates and insights on Tenaris stock.
Tenaris S.A. (TS) is a global leader in manufacturing premium steel pipes and oil country tubular goods (OCTG) for the energy sector. This page aggregates official announcements, financial updates, and strategic developments from one of the world's most trusted industrial suppliers.
Access real-time updates on Tenaris' operational milestones, including earnings reports, product innovations, and global expansion initiatives. Investors and industry professionals will find curated press releases covering technical advancements, supply chain developments, and partnerships critical to energy infrastructure projects.
Our repository features verified news about Tenaris' engineering solutions for extreme drilling environments, manufacturing capacity updates, and sustainability efforts. Content spans quarterly financial results, major contract awards, and R&D breakthroughs in tubular technology.
Bookmark this page for streamlined access to Tenaris' latest developments. Combine our news feed with the company's SEC filings and market analysis for comprehensive investment research.
Tenaris S.A. (TS) reported strong financial results for Q1 2023, with net sales reaching $4,141 million, marking a 75% increase year-on-year. Operating income rose to $1,351 million, up 33% from Q4 2022, while net income increased by 41% to $1,129 million. The company achieved an EBITDA of $1,477 million, representing a 16% rise from the previous quarter.
Despite a forecast for gradual declines in sales and margins throughout 2023, free cash flow improved significantly to $804 million, supported by a net cash position of $1,736 million. Although oil prices are under pressure due to global economic concerns, Tenaris anticipates cash flow from operations will continue to increase this year.
Tenaris S.A. (NYSE: TS) has announced a share purchase agreement to acquire 68.7 million ordinary shares of Usiminas from the NSC group at BRL10 per share. Tenaris will invest BRL 110 million (approx. USD 21 million) for 11 million shares, raising its control group participation to 9.8%. The T/T group, which includes Tenaris and its affiliates, is set to hold 61.3% of Usiminas' voting rights post-transaction. This deal is subject to Brazilian antitrust approval and will be funded from existing cash. Additionally, the governance structure will allow the T/T group to nominate the majority of Usiminas' board members, enhancing their operational control.
Tenaris S.A. reported a strong performance for Q4 and the entire year of 2022. In Q4, net sales reached $3,620 million, a 22% increase year-on-year, with net income rising 32% to $803 million. For 2022, net sales hit $11,763 million, up 80%, and net income surged 142% to $2,549 million. EBITDA also showed significant growth, reaching $3,648 million for the year. Despite challenges like raw material costs and impairment charges, the company's cash flow improved, with $416 million in free cash flow for Q4 and a stable net cash position of $921 million as of year-end. An annual dividend proposal of $602 million is set for approval in May 2023.
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