Steel pipe manufacturer Tenaris (NYSE: TEN) will be announcing earnings results this Thursday before market open. Here’s what to look for.
Tenaris beat analysts’ revenue expectations last quarter, reporting revenues of $253 million, up 28.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Tenaris a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tenaris’s revenue to grow 18.4% year on year, a reversal from the 9.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tenaris has a history of exceeding Wall Street’s expectations.
Looking at Tenaris’s peers in the infrastructure segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Genesis Energy delivered year-on-year revenue growth of 41%, beating analysts’ expectations by 26.2%, and Expand Energy reported a revenue decline of 10.6%, topping estimates by 24.8%. Genesis Energy traded up 1.5% following the results while Expand Energy was also up 4.5%.
Read our full analysis of Genesis Energy’s results here and Expand Energy’s results here.
There has been positive sentiment among investors in the infrastructure segment, with share prices up 5.7% on average over the last month. Tenaris is up 13.4% during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $43.45).
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