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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.
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On August 17, 2021, Tenaris S.A. (NYSE: TS) announced that its Chairman and CEO, Paolo Rocca, was acquitted of all charges in the Notebooks Case. The judge affirmed that Mr. Rocca's involvement does not tarnish his reputation. This decision was not appealed by the prosecutor or the prosecuting unit, ensuring the company's leadership remains stable. Tenaris is a prominent global provider of steel tubes and services for the energy sector and industrial applications, highlighting its critical role in the market.
Tenaris S.A. reported its Q2 2021 results, showing a 29% sequential increase in net sales to $1.53 billion, and a significant recovery from a net loss in Q2 2020 to a net income of $290 million. This quarter's EBITDA rose to $301 million, aided by a $33 million extraordinary gain from Brazil fiscal credits. However, free cash flow turned negative at -$102 million due to rising working capital demands. The company anticipates continued sales growth in Q3 2021, driven by activity in North and South America, alongside improvements in EBITDA margins.
Tenaris S.A. held its annual general meeting on May 3, 2021, where shareholders approved all agenda resolutions. Key approvals included the consolidated financial statements for 2020 and an annual dividend of US$0.21 per share, totaling approximately US$248 million. The dividend payment will be split, with US$0.14 per share payable on May 26, 2021. The board of directors was re-elected, with changes in the audit committee leadership. PricewaterhouseCoopers was appointed as external auditors for 2021. The meeting minutes are available on Tenaris's website.
Tenaris S.A. announced its first-quarter 2021 results, highlighting a sequential 5% increase in net sales to $1,182 million, but a 33% decline year-on-year. Operating income surged to $527 million, a dramatic improvement from a loss of $510 million in Q1 2020. Net income also rebounded to $101 million. Despite this, EBITDA was down 30% from the previous year, impacted by additional costs from Winter Storm Uri. The company anticipates continued sales growth, especially in North America, projecting EBITDA margins to reach around 20% by Q3.
Tenaris S.A. reported results for Q4 and FY 2020, showing a significant rebound in Q4 with net sales of $1.131 billion, a 12% increase from Q3. Operating income turned positive at $7 million, compared to a loss of $70 million in Q3. Net income rose to $110 million, a 405% increase sequentially. However, annual net sales fell 29% to $5.147 billion, with a net loss of $634 million. Free cash flow remained robust at $1.3 billion. The company also plans to propose a dividend of approximately $248 million in 2021. The board targets a 30% reduction in carbon emissions by 2030.
Tenaris S.A. (NYSE: TS) reported its Q3 2020 results, highlighting a 43% year-on-year decrease in net sales to $1.01 billion, driven by falling drilling activity globally. The operating loss was $70 million, compared to a profit of $187 million in Q3 2019. EBITDA improved to $107 million, reflecting cost reductions despite severe market conditions. Free cash flow remained strong at $376 million, with a net cash position of $1.1 billion. An interim dividend of $0.07 per share was announced for November 25, 2020. The market outlook remains uncertain due to COVID-19 impacts.
Tenaris S.A. (TS) reported a significant decline in its Q2 2020 financial results, with net sales plunging 30% sequentially to $1,241 million, impacted by COVID-19 restrictions. The company experienced an operating loss of $91 million and a net loss of $50 million, marking a 93% drop in earnings per share to $0.04. EBITDA fell 79% to $59 million, reflecting severance charges of $54 million. Free cash flow remained strong at $402 million, while net cash improved to $670 million. The outlook remains cautious, anticipating further declines in sales and margins in Q3 2020 due to prolonged low oil demand.
Tenaris S.A. (NYSE: TS) held its annual and extraordinary general meetings on June 2, 2020, where shareholders approved all resolutions. Key decisions included the approval of consolidated financial statements for 2019 and an interim dividend of $0.13 per share, totaling approximately $153 million. The board increased its membership to twelve, re-elected eleven directors, and appointed Simon Ayat as a new member. The re-appointment of audit committee members was confirmed, and PricewaterhouseCoopers was designated as external auditors for 2020. Shareholders also renewed share buyback authorization and approved amendments to the company’s articles of association.
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