Raytheon awarded $71 million in Navy contracts for missile systems
LUXEMBOURG - Tenaris S.A. (NYSE:TS, Mexico:TS, EXM Italy:TEN), a global supplier of steel tubes and related services with a market capitalization of $17.45 billion, has unveiled a share buyback program worth up to $1.2 billion. The company’s Board of Directors has authorized the repurchase of about 74 million shares, representing 6.9% of its outstanding shares, with the aim to cancel them. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The buyback, to be executed within the forthcoming year, reflects Tenaris’s robust cash flow and solid balance sheet, evidenced by its impressive current ratio of 4.08 and minimal debt-to-equity ratio of 0.03. The program, approved by shareholders on May 6, 2025, will commence in June 2025 and will be conducted through a primary financial institution.
The repurchase plan is flexible, allowing for pauses and resumptions depending on market conditions and in accordance with legal and regulatory requirements, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
Tenaris will keep investors informed about the progress of the buyback program through press releases and updates on its corporate website. The execution of this program is contingent on market conditions and compliance with relevant laws.
This announcement follows Tenaris’s consistent performance in the energy sector, providing essential products and services. The company’s forward-looking statements indicate awareness of potential risks, including fluctuations in oil and gas prices, which could impact the investment decisions of companies in these industries. InvestingPro data reveals strong financial health metrics, including $2.76 billion in EBITDA and a 12% free cash flow yield. Subscribers can access 8 additional ProTips and comprehensive financial analysis.
The share buyback program is based on a press release statement from Tenaris S.A.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.