Financial PerformanceTEN 3Q24 results beat consensus in EBITDA, Revenue, and FCF, coupled with a DPS raise to $0.27.
Market OutlookThe 2025 outlook is expected to be more positive due to potentially increased protectionism and solid International demand for OCTG.
Strategic OpportunitiesTenaris 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.