The Company continues to believe that all of CSN's claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian securities regulator in February 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ decision referred to above. The Company also believes that today's SCJ decision on CSN's motion for clarification is contrary to applicable substantive and procedural law. Acco ...

The Company continues to believe that all of CSN's claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian securities regulator in February 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ decision referred to above. The Company also believes that today's SCJ decision on CSN's motion for clarification is contrary to applicable substantive and procedural law. Acco ...

During the third tranche, which ran from May 13, 2024, to (and including) June 13, 2024, the Company purchased a total of 18,080,524 ordinary shares for a total consideration of EUR276,630,414, or USD300 million. On June 14, 2024, Tenaris entered into a non-discretionary buyback agreement with a primary financial institution (the "Bank") for the execution of the fourth tranche of the Program, covering up to the remainder amount of the Program. This fourth tranche shall start on June 17, 2024, and end no lat ...

Tenaris S.A. (NYSE:TS) Q1 2024 Earnings Conference Call April 26, 2024 8:00 AM ET Conference Call Participants Operator I would now like to hand the conference over to your speaker today, Giovanni Sardagna. Please go ahead. With me on the call today are Paolo Rocca, our Chairman and CEO; Alicia Móndolo, our Chief Financial Officer; Gabriel Podskubka, our Chief Operating Officer; and Luca Zanotti, our President of our U.S. Operations. With operating cash flow of $887 million and capital expenditures of $172 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ Registration statement pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 or ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or ☐ Shell company report pursuant to Section 13 or 15(d) of the Securities Exchange Act of ...

Tenaris S.A. (NYSE:TS) Q4 2023 Earnings Conference Call February 22, 2024 9:30 AM ET Company Participants Giovanni Sardagna - Head of Investor Relations Paolo Rocca - Chairman & Chief Executive Officer Alicia Mondolo - Chief Financial Officer Gabriel Podskubka - Chief Operating Officer Luca Zanotti - President-US Operations Conference Call Participants Arun Jayaram - JPMorgan Alessandro Pozzi - Mediobanca Marc Bianchi - TD Cowen Kevin Roger - Kepler Cheuvreux David Anderson - Barclays Jamie Franklin - Jeffe ...

Company Participants Alessandro Pozzi - Mediobanca Arun Jayaram - JPMorgan Securities Marc Bianchi - TD Cowen Luke Lemoine - Piper Sandler David Anderson - Barclays Jamie Franklin - Jefferies I would now like to turn the call over to the Head of Investor Relations, Mr. Giovanni Sardagna. Average selling prices in our Tubes operating segment increased 2% compared to the corresponding quarter of last year, but declined 5% sequentially. As anticipated, our EBITDA, excluding a one-off gain of $32 million, fell ...

Tenaris SA (NYSE:TS) Q2 2023 Results Conference Call August 3, 2023 8:00 AM ET Good day, and thank you for standing by. Welcome to Q2 2023 Tenaris S.A. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. Before passing over the call to Paolo for his opening remarks, I would like to briefly comment our quarterly result ...

Tenaris SA (NYSE:TS) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Giovanni Sardagna - IR Director Paolo Rocca - Chairman & CEO Gabriel Podskubka - COO Luca Zanotti - President of United States Conference Call Participants Alessandro Pozzi - Mediobanca Marc Bianchi - TD Cowen Stephen Gengaro - Stifel, Nicolaus & Company Daniel Thomson - BNP Paribas Exane Arun Jayaram - JPMorgan Chase & Co. James Winchester - Bank of America Merrill Lynch David Anderson - Barclays Bank Gugli ...

Financial Performance - Sales grew 80% to USD 11.8 billion, with EBITDA rising to USD 3.6 billion and net income reaching USD 2.5 billion, representing 22% of net sales[18]. - Total net sales for the company amounted to $11,763 million in 2022, a significant increase from $6,521 million in 2021[201]. - Sales to North America accounted for 61% of tubular products and services sales in 2022, up from 54% in 2021[204]. Production and Capacity - The company produced over 3.5 million tons of steel pipes globally, maintaining high production levels despite complex logistics[19]. - Tenaris's effective annual production capacity for seamless tubes was 4,715 thousand tons in 2022, with actual production reaching 3,347 thousand tons, representing a utilization rate of approximately 71%[141]. - The company produced 3,746 thousand tons of steel bars in 2022, with an effective capacity of 4,485 thousand tons, indicating a utilization rate of around 83%[141]. - The Veracruz facility in Mexico has an effective annual production capacity of approximately 1,230,000 tons of seamless steel pipes and 1,200,000 tons of steel bars[146]. - The Bay City facility in Texas, with an investment of $1.8 billion, has a capacity of approximately 650,000 tons per year for seamless pipes[152]. - The effective annual production capacity for welded pipe production in the United States is 1,430,000 tons, while seamless pipe production capacity is 1,015,000 tons[159]. - The principal manufacturing facility in Argentina has an effective annual production capacity of approximately 900,000 tons of seamless steel pipe and 1,300,000 tons of steel bars[167]. Market Demand and Trends - The company expects global OCTG demand to reach around 16 million tons in 2023, the highest level since 2014, driven by increased drilling activity[27]. - The oil and gas industry is a major consumer of steel pipe products, with demand historically being volatile and dependent on drilling activities and market conditions[46]. - Demand for OCTG products in the U.S. and Canada collapsed in 2020 but began recovering towards the end of that year, continuing through 2022[211]. - The level of investment in offshore exploration and production by oil and gas companies significantly affects sales, influenced by government regulations and oil price movements[214]. Safety and Community Commitment - The lost time injury frequency rate declined by 10% to 0.9 per million man hours worked, reflecting a strong safety performance[20]. - The company is committed to community development, focusing on education and technical training initiatives[30]. Environmental and Regulatory Factors - Approximately 30% of capital expenditures are directed towards projects aimed at reducing carbon emissions intensity by 30% by 2030[25]. - Climate change legislation and increasing regulatory requirements may reduce demand for fossil fuels, impacting the company's products and services[47]. - The EU aims for zero GHG emissions by 2050, while the U.S. Inflation Reduction Act targets a 40% reduction in carbon emissions by 2030, influencing market dynamics[48]. - The company is developing products for cleaner energy sources, including hydrogen and carbon dioxide transportation systems[24]. Challenges and Risks - Increases in raw material and energy costs, along with supply disruptions, may hurt profitability and lead to production cutbacks[56]. - The company faced challenges in hiring qualified workforce during the post-pandemic recovery period, particularly at its Bay City mill[58]. - Economic and political conditions in Argentina, including high inflation rates and state intervention, could adversely affect demand for the company's products and overall financial results[62]. - The armed conflict in Ukraine has led to increased energy and commodity prices, potentially raising production costs and affecting profitability[64]. - The company may face increased operational disruptions due to labor conflicts, particularly in countries like Argentina and Brazil where inflationary pressures are significant[73]. - The company does not carry business interruption insurance, which may expose it to financial risks from production delays or damages[75]. Strategic Initiatives and Acquisitions - Multi-year agreements with major clients, including ExxonMobil and Petrobras, are expected to support future sales growth[29]. - The company terminated its joint venture with JFE Holdings in November 2022, which may impact its strategic initiatives[67]. - The acquisition agreement for Benteler Steel & Tube Manufacturing Corporation was unilaterally terminated by Benteler in February 2023, preventing the transaction from proceeding[67]. - Tenaris's strategic investments and acquisitions have included companies like Ternium and Usiminas, aimed at expanding operations and enhancing competitive positioning[122]. Cybersecurity and Operational Resilience - The company has experienced an increase in cyberattack attempts, with seven incidents reported in 2022, none of which led to breaches of business-critical IT systems[100]. - The company is committed to improving cybersecurity controls and has adopted cyber-resilience as part of its strategy to mitigate risks[100]. - The company does not currently maintain cybersecurity insurance, which may leave it vulnerable to financial losses from cyber threats[101]. Competitive Landscape - The global market for steel pipe products is highly competitive, with significant excess production capacity, particularly for standard grades[51]. - Antidumping and countervailing duty investigations may restrict access to important export markets, adversely impacting sales[52]. - Local content requirements in countries like Saudi Arabia and Brazil could negatively affect the company's competitive position[53]. - Trade regulations, including tariffs and sanctions, can materially impact operations and revenues, as seen with the U.S. Section 232 tariffs[55].