Tenaris SA
TEN: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€46.00 | Cnxl | Lcgzcgrrz |
Tenaris Earnings: Tubes Sales Volumes Exceeding 1 Million Metric Tons Yields Record Revenue
No-moat Tenaris performed exceptionally in the first quarter, posting record revenue of $4.1 billion (increasing 75% year over year and 14% sequentially) while expanding the firmwide EBITDA margin to 36%. We’ll incorporate the firm’s full operating and financial results shortly, but for now, our $32 (EUR 15) fair value estimate is unchanged.