Tenaris Third Quarter 2024 Earnings: Beats Expectations

Tenaris (BIT:TEN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$2.92b (down 10.0% from 3Q 2023).
• Net income: US$448.1m (down 17% from 3Q 2023).
• Profit margin: 15% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.40 (down from US$0.46 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tenaris Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 25%.

Looking ahead, revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.5%.

Performance of the market in Italy.

The company's shares are up 14% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Tenaris (including 1 which is potentially serious).

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.