USD600 million buyback: Tenaris (TNRSF) ends first tranche of program
Rhea-AI Filing Summary
Tenaris S.A. has completed the first USD600 million tranche of its previously announced USD1.2 billion Share Buyback Program. Between June 9, 2025 and September 30, 2025, the company repurchased 33,059,955 ordinary shares, equal to 3.08% of its total issued share capital, for total consideration of €516,588,880 (approximately USD600 million).
As of September 30, 2025, all 33,059,955 repurchased shares are held as treasury shares, and Tenaris states that it intends to cancel all treasury shares bought under the program in due course, effectively reducing its share count once cancellation occurs.
Positive
- Completion of major buyback tranche: Tenaris completed the first USD600 million tranche of its USD1.2 billion Share Buyback Program, repurchasing 33,059,955 shares (3.08% of issued share capital), which it intends to cancel, pointing to a meaningful planned reduction in share count.
Negative
- None.
Insights
Tenaris completes a sizable buyback tranche, retiring over 3% of its share capital once cancellations occur.
Tenaris finished the first USD600 million tranche of its USD1.2 billion share buyback, acquiring 33,059,955 ordinary shares, or 3.08% of issued share capital, for €516,588,880. These shares are currently held in treasury.
The company states it intends to cancel all treasury shares purchased under the program, which would reduce the share count and spread earnings over fewer shares. The first tranche, completed as of September 30, 2025, represents roughly half of the announced buyback capacity, with future activity depending on subsequent tranches.
FORM 6 - K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
As of September 30, 2025
TENARIS, S.A.
(Translation of Registrant's name into English)
26, Boulevard Royal, 4th floor
L-2449 Luxembourg
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.
Form 20-F ✓ Form 40-F
The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris’s Press Release announcing Tenaris completes USD600 million First Tranche of its Share Buyback Program.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 30, 2025
Tenaris, S.A.
By: /s/ Giovanni Sardagna
Giovanni Sardagna
Investor Relations Officer
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Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
Tenaris completes USD600 million First Tranche of its Share Buyback Program.
Luxembourg, September 30, 2025. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of the first USD600 million tranche of its USD1.2 billion Share Buyback Program announced on June 6, 2025 (the “Program”).
During this first tranche, which ran from June 9, 2025, to (and including) September 30, 2025, the Company purchased a total of 33,059,955 ordinary shares, representing 3.08% of its total issued share capital, for a total consideration of €516,588,880, or approximately USD600 million.
As of September 30, 2025, the 33,059,955 ordinary shares that the Company bought in the first tranche of the Program are held in treasury.
Tenaris intends to cancel all treasury shares purchased under the Program in due course.
Details of the above transactions are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program.
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.