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.
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.
Tenaris S.A. (NYSE: TS) announced that the Milan court dismissed the criminal case against its Chairman Paolo Rocca, Board members, and controlling shareholder San Faustin S.A., related to alleged improper payments made in Brazil before 2014. The court ruled that the case lacked jurisdiction and indicated that the criminal proceeding was unfounded. The public prosecutor has the option to appeal this decision.
Tenaris is known for supplying steel tubes and services for the energy industry and other industrial applications.
On May 3, 2022, Tenaris held its annual general meeting, where shareholders approved all resolutions on the agenda. Key approvals included the acknowledgment of the 2021 annual report, approval of consolidated financial statements for the year ended December 31, 2021, and an annual dividend of $0.41 per share, totaling approximately $484 million. The meeting confirmed the re-election of eleven directors and the appointment of Maria Novales-Flamarique to the board. PricewaterhouseCoopers was appointed as external auditors for 2022. Meeting minutes are available on Tenaris's website.
Tenaris reports strong first quarter 2022 results, with net sales of $2,367 million, a 15% increase from the previous quarter, and a net income of $503 million, up 50% year-over-year. Operating income rose 77% to $484 million, driven by higher prices for OCTG and increased line pipe shipments. However, free cash flow was negative at $94 million. The company has decided to discontinue its industrial equipment business in Brazil and fully impaired its joint venture in Russia. Market conditions remain challenging due to the ongoing geopolitical situation.
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Tenaris S.A. (NYSE: TS) reported fourth quarter and full year 2021 results, showcasing a strong recovery driven by increased oil and gas drilling activities. For Q4 2021, net sales reached $2,057 million, up 17% sequentially and 82% year-on-year, with a net income of $336 million. The annual results showed a net sales increase of 27% to $6,521 million, with net income of $1,053 million. However, free cash flow turned negative at $23 million in Q4 due to rising working capital, despite ending the year with a positive cash balance of $700 million. The company also plans a $484 million annual dividend proposal.
Tenaris S.A. (NYSE: TS) reported third-quarter 2021 results showing a 15% increase in net sales to $1.754 billion, compared to the previous quarter, and a significant 73% rise year-over-year. Operating income rose 52% sequentially to $231 million, with net income increasing 12% to $326 million. EBITDA rose 26% to $379 million, reflecting strong demand in North and South America despite challenges in the Middle East. The interim dividend of $0.13 per share was approved, and a joint venture termination with JFE Holdings was announced. The outlook remains positive with expected sales growth in Q4 2021.