TENARIS COMPLETES $300M SHARE BUYBACK FIRST TRANCHE

TL;DR

**Tenaris just finished buying back $300M of its own stock, which is bullish for shareholders.**

AI Summary

Tenaris S.A. (NYSE: TS) announced on January 12, 2024, the completion of the first tranche of its share buyback program, which ran from November 6, 2023, to January 12, 2024. During this period, Tenaris repurchased 17,779,302 ordinary shares for a total of €276,201,768, equivalent to US$300 million. This matters to investors because share buybacks can reduce the number of outstanding shares, potentially increasing earnings per share and the stock's value, signaling management's confidence in the company's financial health.

Why It Matters

Share buybacks can boost shareholder value by reducing the number of outstanding shares, which often leads to higher earnings per share and a more attractive stock price.

Risk Assessment

Risk Level: low — Completing a share buyback program is generally a positive event, indicating financial strength and a commitment to returning value to shareholders.

Analyst Insight

A smart investor would view this as a positive signal, indicating management's belief in the company's value and commitment to shareholder returns. It might be a good time to hold or consider adding to a position, especially if the stock has been undervalued.

Key Numbers

• $300 million — Total Buyback Value (The total amount Tenaris spent to repurchase its shares in the first tranche.)
• 17,779,302 — Shares Repurchased (The number of ordinary shares bought back by Tenaris, reducing the total outstanding shares.)
• €276,201,768 — Total Buyback Value (EUR) (The total amount in Euros Tenaris spent to repurchase its shares in the first tranche.)

Key Players & Entities

• Tenaris S.A. (company) — the registrant completing the share buyback
• Giovanni Sardagna (person) — Investor Relations Officer for Tenaris S.A.
• US$300 million (dollar_amount) — total consideration for the first tranche of the buyback program
• €276,201,768 (dollar_amount) — total consideration in Euros for the first tranche of the buyback program
• 17,779,302 (number) — total ordinary shares purchased in the first tranche
• November 6, 2023 (date) — start date of the first tranche of the buyback program
• January 12, 2024 (date) — end date of the first tranche of the buyback program and filing date

Forward-Looking Statements

• Tenaris's earnings per share (EPS) will likely see an increase due to the reduced share count from the buyback. (Tenaris S.A.) — high confidence, target: next earnings report
• The completion of this buyback tranche may lead to increased investor confidence and potentially a positive short-term stock price movement. (Tenaris S.A.) — medium confidence, target: next 1-3 months

FAQ

Key Financial Figures

• $300 million — onsideration of €276,201,768, or US$300 million. From January 8, 2024 to (and includin

Filing Documents

• f6k_011224.htm (6-K) — 25KB
• hdr.jpg (GRAPHIC) — 5KB
• hdr2.jpg (GRAPHIC) — 1KB
• 0001171843-24-000244.txt ( ) — 34KB

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 12, 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 Press Release announcing Completion of First Tranche of Tenaris Share Buyback Program. Weekly Report (January 8 – January 12, 2024) 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 12, 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Completion of First Tranche of Tenaris Share Buyback Program. Weekly Report (January 8 – January 12, 2024) Luxembourg, January 12, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of the first tranche of its previously announced Share Buyback Program. During the first tranche, which ran from November 6, 2023, to (and including) January 12, 2024, the Company purchased a total of 17,779,302 ordinary shares for a total consideration of €276,201,768, or US$300 million. From January 8, 2024 to (and including) January 12, 2024, the Company purchased the following ordinary shares: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 08-ene-24 MTA 606,482 15.3468 9,307,558 1.0979 10,218,303 08-ene-24 CEUX 285,810 15.3463 4,386,126 1.0979 4,815,308 08-ene-24 TQEX 29,562 15.3437 453,590 1.0979 497,974 08-ene-24 AQXE 28,377 15.3480 435,530 1.0979 478,147 09-ene-24 MTA 606,482 15.1197 9,169,826 1.0972 10,060,674 09-ene-24 CEUX 285,810 15.1199 4,321,419 1.0972 4,741,244 09-ene-24 TQEX 29,562 15.1193 446,957 1.0972 490,379 09-ene-24 AQXE 28,377 15.1226 429,134 1.0972 470,824 10-ene-24 MTA 606,482 14.8555 9,009,593 1.0918 9,836,674 10-ene-24 CEUX 284,396 14.8557 4,224,902 1.0918 4,612,748 10-ene-24 TQEX 29,318 14.8544 435,501 1.0918 475,480 10-ene-24 AQXE 28,377 14.8547 421,532 1.0918 460,228 11-ene-24 MTA 603,614 14.8252 8,948,698 1.0968 9,814,485 11-ene-24 CEUX 58,517 14.8235 867,427 1.0968 951,350 3,511,166 15.0542 52,857,793 57,923,819 As of January 12, 2024, the Company held in treasury 17,779,302 ordinary shares, representing 1.51% of its 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. The second tranche of Tenaris’s Share Buyback Program is expected to begin not earlier than February 26, 2024, once Tenaris’s blackout period has ended. 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