termino la meeting de los analistas..
UPDATE 1-Tenaris sees margin improvement this quarter
* Sees profit margins improving by Q2
* Sees costs coming down in Q3
* Stock down nearly 1 percent in New York
NEW YORK, April 15 (Reuters) - Tenaris (TENR.MI) (TS.N) (TENA.BA), which produces steel pipes for the oil and gas industry, expects improved profit margins this quarter as global drilling activity increases, its chief executive officer said on Thursday.
"Our margins were affected last quarter ... as we shipped less high-margin products and because the Middle East (oil drilling) was not so active," Paulo Rocca said at an analyst presentation.
"(But) our margins should start to increase again by the second quarter."
In February, Luxembourg-based Tenaris reported a 2009 sales drop of 32 percent as demand from drillers fell sharply following the recession. But it said activity was now rising, and it expected shipments of pipes to recover in 2010.
Rocca said Tenaris was hurt by rising costs, especially for iron ore, but he forecast an easing later this year. "By the third quarter, we will have started to see a change in the price trend and we expect costs to go down."
Tenaris stock was down 0.9 percent at $42.87 in morning trading on the New York Stock Exchange. The stock is also listed in Milan and Buenos Aires. (Reporting by Steve James; Editing by Lisa Von Ahn).
http://www.reuters.com/article/idUSN152 ... arketsNews