Tenaris SA ADR

TS: XNYS (USA)
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Tenaris Earnings: Despite Solid Quarter, We Lower Our FVE Due to Continued Oil Price Headwinds

Tenaris' revenue decreased 7% year over year to $3.1 billion from $3.3 billion. Even so, higher average selling prices in the tubes segment caused sales to rise 6% sequentially, though a 1% decrease in volume slightly offset this benefit. Tenaris' cost of sales have risen 5% since last quarter.

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