Tenaris reports Q1 earnings rise on improved North American OCTG market

Steel tube & pipe producer Tenaris reported a rise in earnings of 3.66% for the first quarter of 2017, on improved demand and sales for oil country tubular goods (OCTG) in the USA and Canada.

The company posted global earnings before interest, taxes, depreciation and amortisation (Ebitda) of $198 million in the first three months of 2017, up from $191 million for the same period in 2016.
Higher drilling activity for shale gas in North America was a factor in improving the company’s results in the quarter.

“Four months into 2017, the recovery in shale drilling in the USA and Canada has been impressive. [But] with oil and gas prices remaining range bound,...

Published

Lee Allen

April 27, 2017

17:52 GMT

London

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