Welcome to our dedicated page for Tenaris S. A. news (Ticker: TS), a resource for investors and traders seeking the latest updates and insights on Tenaris S. A. stock.
Tenaris S.A. (NYSE: TS) is a global leader in the manufacture and supply of steel pipes and related services, primarily targeting the energy industry. As one of the largest producers of oil country tubular goods (OCTG), Tenaris plays a crucial role in the construction of oil and gas wells. The company's production facilities are strategically located in the U.S., Argentina, Mexico, and Italy, enabling it to meet the demands of a global market.
Tenaris is renowned for its premium OCTG products, which are trusted by major oil companies for use in challenging applications, including deep-water offshore wells and horizontal shale wells. These high-performance products are essential for ensuring the safety and efficiency of oil and gas extraction processes.
In addition to its core business, Tenaris has achieved significant milestones and continues to expand its operations. The company's latest news reveals strong financial performance for the fourth quarter and annual results of 2023. Tenaris has also announced a new annual dividend proposal and the second tranche of its share buyback program, reflecting its commitment to delivering value to shareholders.
Looking ahead, Tenaris is well-positioned to capitalize on market opportunities, with a positive outlook for the upcoming quarters. The company's robust cash flow and liquidity further reinforce its financial stability, allowing it to invest in future growth and innovation.
For those interested in the latest updates and developments, Tenaris provides regular financial reports and hosts conference calls to discuss its performance. These events offer valuable insights into the company's strategies and market conditions, helping stakeholders stay informed about Tenaris's progress and prospects.
Overall, Tenaris S.A. stands out as a key player in the energy sector, delivering high-quality products and services that are essential for the industry's advancement. With a strong operational foundation and a forward-looking approach, Tenaris continues to thrive in a competitive global market.
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.
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.
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