TENARIS: Weekly Share Buyback Update (Jan 1-5, 2024) for $300M Program

TL;DR

**Tenaris is buying back shares, signaling confidence and potentially boosting EPS.**

AI Summary

Tenaris S.A. (NYSE: TS) reported its weekly share buyback activity for January 1-5, 2024, as part of its First Tranche Share Buyback Program, which aims to repurchase up to US$300 million in shares. During this period, Tenaris repurchased a total of 86,193 ordinary shares across various trading venues like MTA, CEUX, TQEX, and AQXE, with a weighted average price of approximately EUR 15.76 on January 2nd and EUR 15.57 on January 3rd. This matters to investors because share buybacks can reduce the number of outstanding shares, potentially increasing earnings per share and signaling management's confidence in the company's valuation.

Why It Matters

This filing shows Tenaris is actively executing its share buyback program, which can boost shareholder value by reducing share count and potentially increasing EPS, making the stock more attractive.

Risk Assessment

Risk Level: low — Share buybacks are generally seen as a positive use of capital, indicating financial health and a commitment to shareholder returns.

Analyst Insight

A smart investor would view this as a positive signal of management's confidence and commitment to shareholder returns, potentially considering holding or adding to their position, especially if they believe the stock is undervalued.

Key Numbers

• 86,193 — Total Shares Purchased (Number of ordinary shares repurchased by Tenaris from January 1 to January 5, 2024.)
• US$300 million — Buyback Program Value (The maximum value of shares to be repurchased under the First Tranche of the Share Buyback Program.)
• EUR 15.7600 — Weighted Average Price (Jan 2) (The approximate weighted average price per share paid on January 2, 2024, across various venues.)
• EUR 15.5700 — Weighted Average Price (Jan 3) (The approximate weighted average price per share paid on January 3, 2024, across various venues.)

Key Players & Entities

• Tenaris S.A. (company) — the registrant executing the share buyback program
• Giovanni Sardagna (person) — Investor Relations Officer who signed the report
• US$300 million (dollar_amount) — total value of the First Tranche Share Buyback Program
• January 5, 2024 (date) — date of the report and end of the reported buyback period
• November 5, 2023 (date) — date the First Tranche Share Buyback Program was announced

Forward-Looking Statements

• Tenaris will continue to execute its share buyback program, reducing outstanding shares. (Tenaris S.A.) — high confidence, target: Q1 2024
• The ongoing buyback program will contribute to a stable or increasing EPS for Tenaris. (Tenaris S.A.) — medium confidence, target: Q1 2024 earnings report

FAQ

Key Financial Figures

• $300 million — d on November 5, 2023, covering up to US$300 million to be executed in the open market, it h
• $242,076,047 — n of €223,343,975, equivalent to US$242,076,047. As of January 5, 2024, the Company he

Filing Documents

• f6k_010824.htm (6-K) — 26KB
• hdr.jpg (GRAPHIC) — 5KB
• hdrsm.jpg (GRAPHIC) — 1KB
• 0001171843-24-000108.txt ( ) — 35KB

From the Filing

FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of January 5, 2024 TENARIS, S.A. (Translation of Registrant's name into English) 26, Boulevard Royal, 4th floor L-2449 Luxembourg (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F. Form 20-F ✓ Form 40-F ___ The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris’s Weekly Report (January 1, 2024 – January 5, 2024) on the First Tranche of Tenaris Share Buyback Program. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 5 th , 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Weekly Report (January 1, 2024 – January 5, 2024) on the First Tranche of Tenaris Share Buyback Program Luxembourg, January 5, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its First Tranche of the Share Buyback Program announced on November 5, 2023, covering up to US$300 million to be executed in the open market, it has repurchased the following ordinary shares from January 1 to (and including) January 5, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 02-ene-24 MTA 19,017 15.7600 299,708 1.1047 331,072 02-ene-24 CEUX 24,411 15.7599 384,715 1.1047 424,975 02-ene-24 TQEX 11,179 15.7600 176,181 1.1047 194,618 02-ene-24 AQXE 11,054 15.7600 174,211 1.1047 192,442 03-ene-24 MTA 9,817 15.5700 152,851 1.0944 167,272 03-ene-24 CEUX 4,944 15.5700 76,978 1.0944 84,241 03-ene-24 TQEX 5,752 15.5700 89,559 1.0944 98,008 03-ene-24 AQXE 1,238 15.5700 19,276 1.0944 21,094 04-ene-24 MTA 581,491 15.6132 9,078,935 1.0906 9,901,033 04-ene-24 CEUX 276,443 15.6127 4,316,022 1.0906 4,706,837 04-ene-24 TQEX 28,112 15.6181 439,056 1.0906 478,813 04-ene-24 AQXE 27,398 15.6179 427,899 1.0906 466,645 05-ene-24 MTA 395,044 15.4846 6,117,098 1.0956 6,701,587 05-ene-24 CEUX 186,334 15.4858 2,885,531 1.0956 3,161,244 05-ene-24 TQEX 19,143 15.4924 296,571 1.0956 324,908 05-ene-24 AQXE 18,668 15.4930 289,223 1.0956 316,859 1,620,045 15.5698 25,223,814 27,571,650 From November 6, 2023 to (and including) January 5, 2024, the Company has purchased a total of 14,268,136 ordinary shares for a total consideration of €223,343,975, equivalent to US$242,076,047. As of January 5, 2024, the Company held in treasury 14,268,136 ordinary shares equal to 1.21% of the total issued share capital. Tenaris intends to cancel all shares purchased under the Program in due course. Details of the above transactions, are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program. Some of the statements contained in this press release are “forward-looking risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies. Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.

View Full Filing

View this 6-K filing on SEC EDGAR