Report
Tenaris : Robust Q1 2024, decline to come
>Q1 2024 EBITDA: 12.5% ahead of the consensus - In Q1 2024, the group reported sales of $ 3,442m, down 17% y-o-y (as a reminder H1 2023 was brisk thanks notably to the US), in line with our expectations (and 3% above the consensus). EBITDA came to $ 987m, or a margin of 28.7%, and was 14% higher than we expected (and 12.5% above the consensus). Net income came to $ 737m (down 35% y-o-y) and benefited from a fiscal net gain of $ 104m relating to inflation in Argentina...
Underlying
TENARIS S.A.
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Baptiste Lebacq
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