Tenaris Stock Price, News & Analysis

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.

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.

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.