Tenaris reports Q3 EPS 40c, consensus 66c

Reports Q3 revenue $2.92B, consensus $2.77B. The company said, “Net sales in the third quarter were affected by lower prices in the Americas and lower demand in the USA, Mexico and Saudi Arabia as well as lower line pipe shipments in Argentina. Margins were relatively resilient with our EBITDA margin falling 1.1% quarter on quarter on a comparable basis while net income recovered after the extraordinary provisions recorded by Tenaris (TS) and its associate company Ternium in the last quarter.”