Tenaris S.A. Shows Financial Strength with Completion of Share Buyback Program
Luxembourg, June 14, 2024 - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) has demonstrated its financial strength by completing the third tranche and commencing the fourth tranche of its USD1.2 billion Share Buyback Program. Despite a net increase in long-term borrowings in the fourth quarter of 2023, the company managed to enhance its Long Term Debt to Equity ratio to 0.02, marking a new low point within the industry.
Tenaris S.A. reported the best Long Term Debt to Equity ratio in the industry for the fourth quarter of 2023, showcasing its ability to effectively manage its debt. While the company’s position may have deteriorated slightly from the previous quarter, its trailing twelve months Long Term Debt to Equity ratio remains stable at 0.02, below the industry average.
The completion of the Share Buyback Program highlights Tenaris S.A.’s commitment to returning value to its shareholders and solidifies its position as a strong player in the industry. By carefully managing its debt and capital structure, the company has positioned itself for continued success in the future.
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