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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Post by Mediawatcheron Oct 16, 2019 10:27am
206 Views
Post# 30235876

Eleven Years of Value Destruction 2009 - 2019

Eleven Years of Value Destruction 2009 - 2019 Hi all,

John Honderich assumed the role of chair in 2009.  Review the following and draw your conclusions on his performance:


    Revenue        
  Q1 Q2 Q3 Q4 Total  
2009 339 374 344 395            1,452  
2010 334 376 353 418            1,481  
2011 351 393 379 425            1,548  
2012 351 384 336 278            1,349  
2013 313 337 310 259            1,219  
2014 199 226 200 233               858  
2015 181 206 185 214               786  
2016 157 178 162 188               685  
2017 139 162 146 169               616  
2018 129 143 126 145               543  
2019 116 127 112 125 480 Est'd
      Est'd Est'd Total  
          67% decrease  
    Net Income      
  Q1 Q2 Q3 Q4 Total  
2009 -21 -4 4 57 36  
2010 17 23 4 37 81  
2011 15 113 25 65 218  
2012 29 36 11 21 97  
2013 4 18 -71 16 -33  
2014 -2 18 -87 21 -50  
2015 0 -1 -165 -233 -399  
2016 -54 -24 1 1 -76  
2017 -24 -7 -7 8 -30  
2018 -21 5 -19 -3 -38  
2019 -8 -18        
Total  -65 159 -304 -10 -220  

Revenues have declined by more than 2/3rds and 7unbroken years of unprofitability.  How does the Voting Trust sit back and watch this carnage and not question the business acumen of Honderich and his chosen underlings? 

Don't expect great results on the 30th and you will be fed more "headwinds" and "transformation" malarky.  The board members who have watched this play out should be embarrassed and should resign en masse to maintain a shred of dignity.  Not going to happen...

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