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Last $28.31 USD
Change Today -0.29 / -1.01%
Volume 2.1M
TS On Other Exchanges
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As of 3:24 PM 03/6/15 All times are local (Market data is delayed by at least 15 minutes).

tenaris sa-adr (TS) Key Developments

Tenaris S.A. Cuts 230 Houston-Area Jobs

Tenaris SA is temporarily suspending operations at its welded tubes mill in Conroe. The suspension will affect 230 employees, effective April 24. The job cuts are expected to be permanent.

Tenaris Seeks Acquisitions

Tenaris S.A. (BIT:TEN) is seeking acquisitions. Paolo Rocca, Chairman and Chief Executive Officer, said related to acquisitions, "We are not ruling out any of this. We are considering all of our option, looking in how the - what we expect from the market, look at what - how - which opportunities could come out in this environment.”

Tenaris S.A. Proposes Annual Dividend, Payable on May 20, 2015; Announces Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Tenaris S.A. announced that the board of directors proposes, for the approval of the annual general shareholders' meeting to be held on May 6, 2015, the payment of an annual dividend of $0.45 per share ($0.90 per ADS), or approximately $531 million, which includes the interim dividend of $0.15 per share ($0.30 per ADS), or approximately $177 million, paid in November, 2014. If the annual dividend is approved by the shareholders, a dividend of $0.30 per share ($0.60 per ADS), or approximately $354 million will be paid on May 20, 2015, with an ex-dividend date on May 18, 2015 and record date on May 19, 2015. The company announced audited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, net sales were $2,677 million, compared to $2,674 million a year ago. Operating income was $350 million, compared to $589 million a year ago. Net income was $195 million, compared to $408 million a year ago. Shareholders' net income was $195 million, compared to $409 million a year ago. Earnings per share were $0.17 compared to $0.35 a year ago. EBITDA was $712 million, compared to $745 million a year ago. Income before income tax was $320,747,000 compared to $609,624,000 a year ago. Net cash provided by operating activities was $206,292,000 compared to $463,939,000 a year ago. Capital expenditure was $375,006,000 compared to $183,657,000 a year ago. For the year, net sales were $10,338 million, compared to $10,597 million a year ago. Operating income was $1,899 million, compared to $2,185 million a year ago. Net income was $1,366 million, compared to $1,574 million a year ago. Shareholders' net income was $1,343 million, compared to $1,551 million a year ago. Earnings per share were $1.14 compared to $1.31 a year ago. EBITDA was $2,720 million, compared to $2,795 million a year ago. Income before income tax was $1,951,994,000 compared to $2,202,249,000 a year ago. Net cash provided by operations during 2014 was $2.0 billion, compared to $2.4 billion during 2013. Capital expenditures amounted to $1.1 billion in 2014, compared to $753 million in 2013.

Tenaris SA Plans to Slash 90 Additional Jobs at its US Seamless Tube Mill in Sault Ste Marie, Ontario and Plans to Slash Production and Cut About 500 Jobs in the USA

Tenaris SA plans to slash 90 additional jobs at its US seamless tube mill in Sault Ste Marie, Ontario. The latest cuts, effective March 2, mean that Tenaris Algoma Tubes, a subsidiary of the Luxembourg-based steel tube and pipe maker, could be poised to shed 270 jobs since the beginning of the year. Tenaris Algoma Tubes previously announced plans to lay off 180 employees. Further job reductions at Tenaris Algoma Tubes are necessary because of an import glut and to align production with falling demand from the North American energy sector. The company also has made plans to slash production and cut about 500 jobs in the USA. The hundreds of job losses at Tenaris come as turmoil in the energy sector has hit other steel tube and pipe producers, likely causing layoffs tallying into the thousands.

Tenaris SA to Report Q4, 2014 Results on Feb 18, 2015

Tenaris SA announced that they will report Q4, 2014 results on Feb 18, 2015

 

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