Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TENARIS SA. We currently have 6 research reports from 1 professional analysts.
|01Apr17 04:10||MKW||Tenaris Files Annual Report 2016 and Convenes Annual General Meetings of Shareholders|
|22Feb17 21:25||MKW||Tenaris Announces 2016 Fourth Quarter and Annual Results|
|31Mar16 21:10||MKW||Tenaris Files Annual Report 2015 and Convenes Annual General Meetings of Shareholders|
|24Feb16 21:31||MKW||Tenaris Announces 2015 Fourth Quarter and Annual Results|
|02Feb16 03:27||MKW||Tenaris Provides Update on Previously Reported Proceedings|
|04Nov15 21:34||MKW||Tenaris Announces 2015 Third Quarter Results|
Frequency of research reports
Research reports on
Q3 16: not bad, despite a still weak top-line
04 Nov 16
Tenaris released Q3 16 results. Revenues in Q3 reached US$1,049m (-6% qoq, -33% yoy), EBITDA US$154m (+24% qoq, -36% yoy), EBIT US$-14m (vs US$-40m in Q2 and US$-319m in Q3 15) and the net result US$15m (vs US$-9m in Q2 and US$-356m in Q3 15). Net cash at the end of Q3 was US$1.8bn, unchanged on Q2 and US$2.1bn a year ago.
H1 16: still under pressure
04 Aug 16
Tenaris released H1 16 results. Sales reached US$2.378m (-42%, -40% in Q2), EBITDA US$329m (-58%, -53% in Q2), operating income US$2m (vs US$490m) and net income US$19m (vs US$326m). The net cash position at the end of H1 16 was US$1.8bn (vs US$1.9bn in Q1 and US$1.8bn at year-end 2015). The outlook is not exactly rosy very short term, despite the fact that drilling activity in North America seems to have bottomed out. The group expects Q3 sales to continue to be impacted by low volumes and intense price competition while management seems more optimistic about Q4 based on a (non-communicated) order backlog in the Middle East and Asia and a pick-up in America that « should lead to a gradual recovery at the EBITDA level ».
Weak FY15 results and no light in sight
25 Feb 16
Tenaris released FY results. Sales reached US$7.1bn (-31%), EBITDA US$1,255m (-54%), operating income US$195m (-90%) and net income US$-74m vs US$1,181m. Net cash at the end of FY15 amounted to US$1.8bn (vs US$2.1bn in Q3 15 and US$1.3bn a year before). A dividend of US$0.45 will be proposed. In terms of outlook, the group sees another 20% drop in the global OCTG market for FY16 in the absence of a significant improvement in market conditions and further price cuts. It still aims at maintaining its EBITDA marginal at the level seen in Q4 15, i.e. 15.7% (vs 17.7% in FY15).
Q3 15: worse than low expectations
05 Nov 15
Q3 15 results: revenues stood at US$1,559m (-17% qoq, -36% yoy), EBITDA US$240m (-9% qoq, -59% yoy), operating income US$-319m vs US$111m in Q2), net result US$-355m (vs US$66m in Q2 and US$81m in Q3 14). Note Q3 and Q2 15 EBITDA include severance charges of US$38m and US89m respectively. Also note Q3’s operating loss includes a US$400m impairment on the North American business. Net cash at the end of Q3 stood at US$2.1bn (vs US$1.8bn in H1).
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.