Steel pipe manufacturer Tenaris (NYSE: TEN) will be reporting earnings this Thursday before market open. Here’s what investors should know.
Tenaris beat analysts’ revenue expectations last quarter, reporting revenues of $222.1 million, up 18% year on year. It was an incredible 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 9.6% year on year, a reversal from the 2.3% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Kinder Morgan delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 3.3%, and Expand Energy reported revenues up 41%, topping estimates by 48.2%. Kinder Morgan’s stock price was unchanged after the resultswhile Expand Energy was up 4.2%.
Read our full analysis of Kinder Morgan’s results here and Expand Energy’s results here.
There has been positive sentiment among investors in the infrastructure segment, with share prices up 9.8% on average over the last month. Tenaris is up 7.5% during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $42.93).
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