Tenaris (TS) has released an update.
Tenaris S.A. reported steady net sales and EBITDA for Q1 2024, mirroring the previous quarter’s performance, but saw a decrease in net income to $750 million. Despite lower OCTG prices in the Americas, the company maintained strong business lines, including an uptick in Rig DirectÒ shipments and a significant coating project in Mexico. Tenaris also bolstered its net cash position to $3.9 billion after allocating $311 million for share buybacks.
For further insights into TS stock, check out TipRanks’ Stock Analysis page.
