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. (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. 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.
Tenaris S.A. (NYSE: TS) announced that Benteler North America Corporation has exercised its right to unilaterally terminate the agreement to sell 100% of Benteler Steel & Tube Manufacturing Corporation to Tenaris. This decision is effective immediately and terminates a previously announced deal. Tenaris is recognized as a leading global supplier of steel tubes and related services in the energy industry and other industrial sectors.
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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