Tenaris SA (TS) has released an update.
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Tenaris S.A. reports a resilient second quarter in 2024 despite facing challenges such as a decline in OCTG prices in the Americas and a significant litigation provision affecting net income. The company’s shipments remained high thanks to strong demand in the Middle East, the U.S., and offshore regions, while free cash flow remained robust at $774 million. Looking ahead, Tenaris aims to enhance cost efficiency and competitiveness in response to the anticipated lower sales and EBITDA in the upcoming quarter due to reduced activity in North and Latin America.
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