TS Tenaris

[capocanionieri]

Our results during the second quarter continued to improve as our net sales rose sequentially and we consolidated the margin improvements we made in the first quarter. Higher sales of premium products for deepwater operations in the Gulf of Mexico and Brazil and in the Eastern Hemisphere regions, as well as a partial recovery of line pipe shipments in Brazil, more than offset the impact of seasonally lower sales in Canada.

Cash flow from operations remains strong and amounted to US$414.5 million for the quarter. However, we ended the quarter with a net debt position (total borrowings less cash and other current investments) of US$540.5 million, after the acquisition of Confab's non-controlling interests for US$ 758.5 million, the payment of US$295.1 million in dividends and capital expenditures of US$204.5 million.

Market Background and Outlook

Global demand for energy, in spite of the deteriorating economic climate in Europe, remains stable and energy companies are maintaining their programs in exploration and production activity for 2012. Demand for tubular products for complex applications is growing as investments take place in more difficult and unconventional operating environments.

With the recent volatility in oil prices and continuing low natural gas prices, drilling activity in North America is expected to decline by the end of the year, as lower gas drilling is not likely to be compensated by additional oil drilling. In the rest of the world, drilling activity should continue to increase led by the growth in the development of deepwater and unconventional reserves as well as complex conventional gas drilling.

In the second half of the year, sales to oil and gas customers, particularly in South America and in the Eastern Hemisphere, are expected to increase, while sales to the industrial markets will decline reflecting the slowdown in industrial activity, particularly in Europe.

Operating margins for the rest of 2012 are expected to remain close to current levels as mix improvements, lower raw material costs and increased efficiency in our industrial system offset the impact of lower prices in less differentiated segments.

Sales and operating income are expected to continue to show solid year on year growth during the remainder of the year but third quarter results will be affected by seasonal factors.

[ezequielm]

una tratando de llevar puts y lanzar calls , da pena la base 124

que se cagen chau

CATA. KE HACES X ESTOS PAGOS????? ABRAZO!!!

[piojo]

eze te dije en linea el balancete calculale que cae un 2 o 3 al menos
roga que mañana el bce tenga algo concreto ...no corren mas las promesas ,hoy berny tiro la pelota afuera ,no dijo nada ,arreglense les dijo
el partido se define mañana en europa

[capocanionieri]

presentó resultados.



Q2 2012 Q1 2012 Q2 2011

Net sales (US$ million) 2,801.5 2,617.3 7% 2,403.1 17%

Operating income (US$ million) 620.9 566.2 10% 409.8 52%

Net income (US$ million) 460.2 453.4 1% 304.7 51%

Shareholders' net income (US$ million) 461.1 443.8 4% 287.2 61%

Earnings per ADS (US$) 0.78 0.75 4% 0.49 61%

Earnings per share (US$) 0.39 0.38 4% 0.24 61%

EBITDA (US$ million) 758.6 704.4 8% 545.8 39%

EBITDA margin (% of net sales) 27% 27% 23%

[ezequielm]

Eze faltando 30 min. te digo que me alcanza con la nacio, clarin, pagina 12 , el cronista y LA TAPA DEL AMBITO!

XK. NO ESTAS VENDIDO EN GGAL??????

[Gaston89]

yo espero a los tanos..

tiene mucho mas para bajar que para subir..

[elcata]

una tratando de llevar puts y lanzar calls , da pena la base 124

que se cagen chau

[PAPU07]

LISTO.... TERIBLE TAPADA CON DIORIA.... CLARIN LA NACION Y CRONISTA COMERCIAL.... ADIOS, ME DESPIDO

NO ME QUIERO TENTAR DE ESCRIBIR Y VOLVER A PELEAR.

Entonces ROJO a esperar y no tentarse ( hablo en mi caso) $ $ $ $ en la cuenta y a esperar el momento oportuno para entrar en calls, que por lo que vislumbro, casi seguro seran bases oct

Saludos

U$ 38.54 UP , con pinta de techin / techazo en 39

[ezequielm]

AL CARAJOOOO!!!!! AGARRENSEN!!!!!! PARECE GARCHALICIA!!!!!!

[Gaston89]

paolo vende info

[piojo]

pero jefe por que cae?
no seas salame como vamos a garpar un 40% arriba desde el ultimo balance si gano una miseria mas ...sell selll
ok boss
dialogo escuchado recien en wall street

[Gaston89]

bueno 4 ctvs mas de lo esperado
primera vez que largan balance en rueda
por ahora ni fu ni fa
estaba descontado

como le cuesta los 39..