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) regularly publishes news and regulatory updates that shed light on its role as a global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications. The company’s news flow highlights how its Tubes and Others segments evolve in response to drilling activity, regional demand and project pipelines across North America, South America, Europe, and Asia Pacific, Middle East and Africa.
On this page, readers can follow earnings announcements and interim results, where Tenaris reports net sales, operating income, net income and EBITDA based on consolidated condensed interim financial statements prepared under IFRS. These releases also discuss sales volumes of seamless and welded pipes, regional net sales, and the contribution from other products and services, including oilfield services in Argentina and sales of sucker rods and coiled tubing.
Tenaris’s news also covers capital allocation decisions such as its USD 1.2 billion share buyback program and dividend distributions. Press releases describe the approval of the buyback program by the board of directors, the authority granted by shareholders, and the execution of first and second tranches through non-discretionary agreements with financial institutions. Updates detail the number of ordinary shares repurchased, total consideration paid, and the percentage of issued share capital held in treasury, as well as the company’s intention to cancel repurchased shares in due course.
Governance and ownership developments feature prominently as well. Tenaris reports resolutions adopted at its annual and extraordinary general meetings, including approval of financial statements, dividends, director appointments and share capital changes. It also publishes notices when its indirect and direct controlling shareholders, San Faustin S.A. and Techint Holdings S.à r.l., file amendments to Schedule 13D or transparency notifications in connection with Tenaris’s ongoing share repurchase program and their beneficial ownership levels.
Investors and analysts who follow TS news can use this feed to monitor Tenaris’s operating performance, regional exposure, share buyback activity, dividend decisions and changes in its controlling shareholder’s reported stake, all of which are documented through official press releases and SEC-furnished materials.
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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.
Summary not available.
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.
Tenaris S.A. (NYSE: TS) announced that Benteler North America Corporation has exercised its right to unilaterally terminate the agreement to sell 100% of Benteler Steel & Tube Manufacturing Corporation to Tenaris. This decision is effective immediately and terminates a previously announced deal. Tenaris is recognized as a leading global supplier of steel tubes and related services in the energy industry and other industrial sectors.
Tenaris S.A. (NYSE: TS) reported positive financial results for Q3 2022, with net sales reaching $2.975 billion, a 6% sequential increase. Operating income surged 21% to $803 million, while EBITDA margin climbed to 31.8%. Despite a 4% decline in net income to $608 million, shareholders will receive an interim dividend of $0.17 per share. The ongoing geopolitical climate and increased drilling activity support the company’s outlook, with expectations for further sales growth in Q4 2022 driven by heightened pipeline shipments.
Tenaris S.A. (NYSE: TS) reported strong 2Q 2022 results, with net sales reaching $2.8 billion, up 83% year-over-year. Operating income surged 37% to $663 million, while net income rose 26% to $634 million. Earnings per ADS increased to $1.08, a 27% jump from the previous quarter. EBITDA was $806 million, reflecting a margin of 28.8%. Sales growth was attributed to rising prices in North America and recovering volumes in the Middle East. Free cash flow was positive at $353 million, strengthening the net cash position to $635 million, despite facing higher energy costs.
Tenaris S.A. has announced a definitive agreement to acquire Benteler Steel & Tube Manufacturing Corporation for US$460 million in a cash-free, debt-free transaction. This acquisition, which includes US$52 million of working capital, aims to bolster Tenaris's production capacity and local manufacturing presence in the U.S. market. The transaction is pending regulatory approvals and is expected to close in the fourth quarter of 2022. Benteler produces seamless steel pipe with an annual capacity of 400,000 metric tons at its Louisiana facility.
Tenaris S.A. (NYSE: TS) has resolved an investigation by the SEC regarding allegations of improper payments linked to its Brazilian subsidiary, Confab Industrial S.A., between 2008 and 2013. The DOJ has closed its parallel inquiry without taking action. Under a settlement with the SEC, Tenaris will pay $53.1 million in disgorgement and interest, along with a $25 million civil penalty. The company maintains it had no involvement in improper payments, which were made by a third party. Tenaris has also enhanced its compliance processes and reduced its reliance on commercial agents.