Cash Reserves And M&A PotentialTenaris has a cash reserve of about $4 billion, which provides the capability for possible M&A activities while still returning significant amounts of cash to shareholders.
Quarterly PerformanceTEN 3Q24 results beat consensus in EBITDA (+14% vs consensus), Revenue (+5% vs consensus) and FCF (excluding W/C changes) (+7% vs consensus) coupled with a DPS raise to $0.27.
Share BuybackThe $1.2bn buyback commitment is expected to enhance Tenaris's >4% dividend yield by cutting another ~7% of its outstanding shares.