Summary of 2024 Fourth Quarter Results - Net sales for Q4 2024 were $2,845 million, a decrease of 2% from Q3 2024 and a decrease of 17% from Q4 2023 [3] - Operating income increased by 4% sequentially to $558 million but decreased by 32% year-on-year [3] - Net income rose by 13% sequentially to $519 million but fell by 55% compared to Q4 2023 [3] - EBITDA for Q4 2024 was $726 million, a 6% increase from Q3 2024 but a 26% decrease from Q4 2023 [3] - The EBITDA margin improved to 25.5% from 23.6% in Q3 2024, but decreased from 28.6% in Q4 2023 [3] Summary of 2024 Annual Results - Total net sales for 2024 were $12,524 million, down 16% from 2023 [5] - Operating income for the year was $2,419 million, a decrease of 44% year-on-year [5] - Net income for 2024 was $2,077 million, down 48% from 2023 [5] - EBITDA for the year was $3,052 million, a decline of 37% compared to 2023 [5] - The EBITDA margin for 2024 was 24.4%, down from 32.7% in 2023 [5] Cash Flow and Liquidity - Free cash flow for Q4 2024 was $310 million, with a net cash position of $3.6 billion at year-end [4][26] - Cash flow from operating activities for 2024 was $2.9 billion, down from $4.4 billion in 2023 [37] - Capital expenditures for 2024 totaled $694 million, compared to $619 million in 2023 [37] Market Background and Outlook - Oil prices have remained stable, with OPEC+ maintaining production cuts amid limited global demand growth [11] - Natural gas prices in Europe and the US have risen due to cold weather and supply disruptions [11] - The company expects sales and EBITDA to be stable in Q1 2025, with moderate growth anticipated in Q2 [15] Tubes Business Segment - Tubes net sales for 2024 were $11,907 million, a decrease of 16% from 2023 [27] - Seamless pipe sales volume decreased by 4% year-on-year, while welded pipe sales volume decreased by 11% [28] - Operating income from the Tubes segment was $2,305 million in 2024, down 45% from 2023 [29] Others Business Segment - Net sales from the Others segment were $617 million in 2024, a decrease of 10% from 2023 [30] - Operating income for the Others segment was $113 million, down 15% year-on-year [30] Chief Financial Officer Transition - Effective May 2, 2025, Mr. Carlos Gomez Alzaga will become the Chief Financial Officer, succeeding Ms. Alicia Mondolo [8][9]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Tenaris (TS) as a potentially undervalued stock based on various valuation metrics [2][4][7]. Valuation Metrics - Tenaris has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential for value investors [4][7]. - The stock's P/E ratio is 12.20, which is lower than the industry average of 13.75, suggesting it may be undervalued [4]. - The P/B ratio for Tenaris is 1.29, compared to the industry average of 1.43, indicating an attractive valuation [5]. - Tenaris's P/CF ratio stands at 6.62, which is also lower than the industry's average of 7.46, further supporting its undervaluation [6]. Historical Performance - Over the past 52 weeks, Tenaris's Forward P/E has fluctuated between a high of 12.43 and a low of 6.99, with a median of 9.13 [4]. - The P/B ratio has ranged from a high of 1.38 to a low of 0.95, with a median of 1.12 over the past year [5]. - The P/CF ratio has seen a high of 6.75 and a low of 4.13, with a median of 5.20 during the same period [6].

Core Viewpoint - Tenaris (TS) is identified as a strong value stock with a Zacks Rank of 2 (Buy) and an "A" grade for Value, indicating it is likely undervalued in the current market [4][7]. Valuation Metrics - TS has a Forward P/E ratio of 12.01, which is lower than the industry average of 13.23, suggesting it may be undervalued [4]. - The P/B ratio for TS is 1.27, compared to the industry's average P/B of 1.39, indicating an attractive valuation relative to its book value [5]. - TS's P/CF ratio stands at 6.51, which is favorable compared to the industry average of 7.16, further supporting the notion of undervaluation based on cash flow [6]. Historical Performance - Over the past 52 weeks, TS's Forward P/E has fluctuated between a high of 12.01 and a low of 5.90, with a median of 9.03 [4]. - The P/B ratio for TS has ranged from a high of 1.38 to a low of 0.95, with a median of 1.11 over the last 12 months [5]. - TS's P/CF ratio has varied between a high of 6.69 and a low of 4.12, with a median of 5.04 during the past year [6].

HOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- ExxonMobil has named Tenaris its 2024 Supplier of the Year, recognizing the company's performance, competitiveness and high standards as consistent with ExxonMobil's values and expectations. "Over the past year, Tenaris has consistently demonstrated superior performance globally across ExxonMobil including Guyana and Permian region, and effectively met our business needs with high standards," said ExxonMobil Vice President of Procurement, Rebecca Vest, in the lette ...

ExxonMobil names Tenaris its 2024 Supplier of the Year Luca Zanotti, Tenaris US President, and Guillermo Moreno, Chief Commercial Officer for the US, received the award on behalf of Tenaris. HOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- ExxonMobil has named Tenaris its 2024 Supplier of the Year, recognizing the company’s performance, competitiveness and high standards as consistent with ExxonMobil’s values and expectations. “Over the past year, Tenaris has consistently demonstrated superior performance glo ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-a ...

LUXEMBOURG, Nov. 10, 2024 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its USD700 million Share Buyback Program (the “Program”) announced on November 6, 2024, to be executed in the open market, it has entered into a non-discretionary buyback agreement with a primary financial institution (the “Bank”). The Bank will make its trading decisions concerning the timing of the purchases of Tenaris’s ordinary shares independently of and uninf ...

Tenaris S.A. (NYSE:TS) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Giovanni Sardagna - Director of IR Paolo Rocca - Chairman & CEO Alicia Mondolo - CFO Gabriel Podskubka - COO Luca Zanotti - President, US Operations Conference Call Participants Alessandro Pozzi - Mediobanca Arun Jayaram - JPMorgan Securities LLC Marc Bianchi - TD Cowen Stephen Gengaro - Stifel Rodrigo Almeida - Santander Operator Good day and thank you for standing by. Welcome to Third Quarter 2024 Tena ...

For the quarter ended September 2024, Tenaris S.A. (TS) reported revenue of $2.92 billion, down 10% over the same period last year. EPS came in at $0.81, compared to $0.91 in the year-ago quarter.The reported revenue represents a surprise of +5.82% over the Zacks Consensus Estimate of $2.76 billion. With the consensus EPS estimate being $0.63, the EPS surprise was +28.57%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

The financial and operational information contained in this press release is based on unaudited consolidated condensed interim financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press release includes non-IFRS alternative performance measures i.e., EBITDA, Free Cash Flow, Net cash / debt and Operating working capital d ...