
Tenaris SA
MIL:TEN

Income Statement
Earnings Waterfall
Tenaris SA
Revenue
|
12B
USD
|
Cost of Revenue
|
-7.9B
USD
|
Gross Profit
|
4.1B
USD
|
Operating Expenses
|
-2B
USD
|
Operating Income
|
2.1B
USD
|
Other Expenses
|
-302.1m
USD
|
Net Income
|
1.8B
USD
|
Income Statement
Tenaris SA
Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
9 815
N/A
|
9 022
-8%
|
8 161
-10%
|
6 903
-15%
|
5 856
-15%
|
5 043
-14%
|
4 470
-11%
|
4 294
-4%
|
4 062
-5%
|
4 250
+5%
|
4 567
+7%
|
5 289
+16%
|
6 001
+13%
|
6 547
+9%
|
7 143
+9%
|
7 659
+7%
|
7 664
+0%
|
7 794
+2%
|
7 658
-2%
|
7 294
-5%
|
7 185
-2%
|
6 508
-9%
|
5 757
-12%
|
5 147
-11%
|
4 566
-11%
|
4 854
+6%
|
5 595
+15%
|
6 521
+17%
|
7 706
+18%
|
8 978
+17%
|
10 199
+14%
|
11 763
+15%
|
13 537
+15%
|
14 811
+9%
|
15 074
+2%
|
14 869
-1%
|
14 169
-5%
|
13 416
-5%
|
13 094
-2%
|
12 524
-4%
|
12 005
-4%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(6 054)
|
(5 788)
|
(5 374)
|
(4 748)
|
(4 204)
|
(3 659)
|
(3 294)
|
(3 166)
|
(2 992)
|
(3 078)
|
(3 265)
|
(3 685)
|
(4 167)
|
(4 528)
|
(4 914)
|
(5 279)
|
(5 246)
|
(5 362)
|
(5 305)
|
(5 107)
|
(5 129)
|
(4 829)
|
(4 436)
|
(4 087)
|
(3 677)
|
(3 748)
|
(4 107)
|
(4 599)
|
(5 251)
|
(5 872)
|
(6 424)
|
(7 070)
|
(7 874)
|
(8 405)
|
(8 612)
|
(8 669)
|
(8 495)
|
(8 372)
|
(8 334)
|
(8 135)
|
(7 922)
|
|
Gross Profit |
3 761
N/A
|
3 235
-14%
|
2 787
-14%
|
2 155
-23%
|
1 652
-23%
|
1 383
-16%
|
1 176
-15%
|
1 128
-4%
|
1 071
-5%
|
1 172
+10%
|
1 302
+11%
|
1 603
+23%
|
1 834
+14%
|
2 019
+10%
|
2 228
+10%
|
2 379
+7%
|
2 419
+2%
|
2 432
+1%
|
2 353
-3%
|
2 187
-7%
|
2 055
-6%
|
1 679
-18%
|
1 321
-21%
|
1 059
-20%
|
890
-16%
|
1 106
+24%
|
1 488
+35%
|
1 922
+29%
|
2 456
+28%
|
3 106
+26%
|
3 775
+22%
|
4 693
+24%
|
5 663
+21%
|
6 406
+13%
|
6 462
+1%
|
6 200
-4%
|
5 674
-8%
|
5 044
-11%
|
4 760
-6%
|
4 388
-8%
|
4 082
-7%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(2 228)
|
(2 140)
|
(2 445)
|
(1 589)
|
(1 865)
|
(1 769)
|
(1 275)
|
(1 187)
|
(1 176)
|
(1 165)
|
(1 183)
|
(1 269)
|
(1 323)
|
(1 337)
|
(1 367)
|
(1 507)
|
(1 500)
|
(1 501)
|
(1 494)
|
(1 354)
|
(1 369)
|
(1 318)
|
(1 217)
|
(1 100)
|
(991)
|
(965)
|
(1 046)
|
(1 136)
|
(1 316)
|
(1 320)
|
(1 552)
|
(1 617)
|
(1 833)
|
(1 960)
|
(1 908)
|
(1 921)
|
(1 897)
|
(1 899)
|
(2 065)
|
(1 865)
|
(1 974)
|
|
Selling, General & Administrative |
(1 620)
|
(1 545)
|
(1 450)
|
(1 318)
|
(1 147)
|
(1 034)
|
(947)
|
(908)
|
(905)
|
(916)
|
(943)
|
(1 046)
|
(1 132)
|
(1 161)
|
(1 208)
|
(1 264)
|
(1 272)
|
(1 278)
|
(1 282)
|
(1 260)
|
(1 249)
|
(1 197)
|
(1 086)
|
(982)
|
(890)
|
(900)
|
(984)
|
(1 063)
|
(1 198)
|
(1 313)
|
(1 412)
|
(1 506)
|
(1 641)
|
(1 739)
|
(1 797)
|
(1 798)
|
(1 791)
|
(1 781)
|
(1 768)
|
(1 772)
|
(1 743)
|
|
Depreciation & Amortization |
(227)
|
(224)
|
(225)
|
(257)
|
(269)
|
(277)
|
(282)
|
(258)
|
(258)
|
(246)
|
(226)
|
(207)
|
(173)
|
(151)
|
(133)
|
(224)
|
(210)
|
(200)
|
(193)
|
(76)
|
(98)
|
(102)
|
(115)
|
(127)
|
(113)
|
(116)
|
(108)
|
(102)
|
(101)
|
(98)
|
(95)
|
(97)
|
(90)
|
(86)
|
(82)
|
(82)
|
(107)
|
(108)
|
(113)
|
(103)
|
(89)
|
|
Other Operating Expenses |
(382)
|
(371)
|
(770)
|
(14)
|
(449)
|
(459)
|
(46)
|
(20)
|
(14)
|
(3)
|
(14)
|
(16)
|
(19)
|
(26)
|
(26)
|
(20)
|
(18)
|
(24)
|
(19)
|
(18)
|
(22)
|
(18)
|
(16)
|
8
|
11
|
50
|
45
|
29
|
(16)
|
92
|
(45)
|
(14)
|
(102)
|
(135)
|
(29)
|
(40)
|
1
|
(11)
|
(185)
|
10
|
(141)
|
|
Operating Income |
1 533
N/A
|
1 095
-29%
|
342
-69%
|
566
+66%
|
(213)
N/A
|
(386)
-81%
|
(99)
+74%
|
(59)
+40%
|
(106)
-79%
|
7
N/A
|
119
+1 545%
|
335
+181%
|
511
+53%
|
682
+33%
|
861
+26%
|
872
+1%
|
919
+5%
|
931
+1%
|
859
-8%
|
832
-3%
|
686
-18%
|
361
-47%
|
104
-71%
|
(41)
N/A
|
(102)
-151%
|
140
N/A
|
442
+215%
|
786
+78%
|
1 140
+45%
|
1 786
+57%
|
2 224
+24%
|
3 076
+38%
|
3 830
+25%
|
4 446
+16%
|
4 554
+2%
|
4 279
-6%
|
3 777
-12%
|
3 145
-17%
|
2 695
-14%
|
2 524
-6%
|
2 108
-16%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(22)
|
(42)
|
200
|
18
|
6
|
32
|
49
|
82
|
116
|
101
|
86
|
79
|
90
|
159
|
215
|
232
|
247
|
188
|
140
|
103
|
32
|
3
|
(11)
|
49
|
157
|
321
|
469
|
536
|
532
|
468
|
320
|
304
|
220
|
264
|
215
|
412
|
429
|
275
|
383
|
238
|
212
|
|
Non-Reccuring Items |
0
|
0
|
0
|
(429)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(626)
|
(626)
|
(626)
|
(626)
|
0
|
0
|
0
|
(79)
|
0
|
(135)
|
0
|
(214)
|
0
|
0
|
(43)
|
37
|
0
|
(135)
|
(15)
|
(105)
|
49
|
|
Total Other Income |
(2)
|
(2)
|
(15)
|
(14)
|
(12)
|
(5)
|
9
|
12
|
11
|
13
|
15
|
14
|
11
|
6
|
2
|
(1)
|
(1)
|
(0)
|
(0)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(30)
|
(0)
|
(30)
|
(30)
|
(0)
|
(95)
|
(163)
|
(170)
|
(179)
|
(101)
|
(49)
|
|
Pre-Tax Income |
1 508
N/A
|
1 051
-30%
|
527
-50%
|
141
-73%
|
(219)
N/A
|
(359)
-64%
|
(41)
+89%
|
34
N/A
|
21
-38%
|
121
+466%
|
219
+82%
|
428
+95%
|
611
+43%
|
847
+39%
|
1 078
+27%
|
1 103
+2%
|
1 165
+6%
|
1 118
-4%
|
999
-11%
|
934
-7%
|
91
-90%
|
(263)
N/A
|
(536)
-104%
|
(619)
-16%
|
53
N/A
|
460
+765%
|
909
+98%
|
1 243
+37%
|
1 671
+34%
|
2 118
+27%
|
2 513
+19%
|
3 166
+26%
|
4 020
+27%
|
4 680
+16%
|
4 725
+1%
|
4 633
-2%
|
4 043
-13%
|
3 115
-23%
|
2 884
-7%
|
2 556
-11%
|
2 321
-9%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(513)
|
(404)
|
(323)
|
(234)
|
(109)
|
(64)
|
(22)
|
(17)
|
56
|
53
|
46
|
2
|
(45)
|
(188)
|
(267)
|
(229)
|
(284)
|
(164)
|
(191)
|
(202)
|
(268)
|
(204)
|
(68)
|
(23)
|
71
|
5
|
(82)
|
(189)
|
(215)
|
(319)
|
(431)
|
(617)
|
(846)
|
(1 003)
|
(1 110)
|
(675)
|
(464)
|
(324)
|
(180)
|
(480)
|
(476)
|
|
Income from Continuing Operations |
995
|
647
|
205
|
(94)
|
(327)
|
(423)
|
(63)
|
17
|
78
|
174
|
266
|
430
|
566
|
659
|
811
|
874
|
881
|
954
|
808
|
731
|
(177)
|
(467)
|
(603)
|
(642)
|
124
|
465
|
827
|
1 053
|
1 456
|
1 800
|
2 082
|
2 549
|
3 174
|
3 676
|
3 615
|
3 958
|
3 579
|
2 791
|
2 703
|
2 077
|
1 844
|
|
Income to Minority Interest |
(16)
|
(10)
|
(3)
|
(6)
|
(17)
|
(15)
|
(14)
|
(3)
|
6
|
11
|
20
|
8
|
9
|
9
|
(1)
|
2
|
3
|
3
|
9
|
11
|
17
|
17
|
14
|
8
|
8
|
9
|
10
|
47
|
41
|
40
|
34
|
5
|
5
|
(11)
|
(19)
|
(40)
|
(52)
|
(52)
|
(54)
|
(40)
|
(38)
|
|
Net Income (Common) |
991
N/A
|
650
-34%
|
213
-67%
|
(80)
N/A
|
(317)
-296%
|
(397)
-25%
|
(25)
+94%
|
55
N/A
|
242
+338%
|
330
+36%
|
418
+27%
|
545
+30%
|
575
+5%
|
668
+16%
|
810
+21%
|
876
+8%
|
884
+1%
|
957
+8%
|
817
-15%
|
743
-9%
|
(160)
N/A
|
(450)
-181%
|
(589)
-31%
|
(634)
-8%
|
132
N/A
|
474
+259%
|
837
+77%
|
1 100
+31%
|
1 497
+36%
|
1 839
+23%
|
2 116
+15%
|
2 553
+21%
|
3 179
+25%
|
3 665
+15%
|
3 596
-2%
|
3 918
+9%
|
3 526
-10%
|
2 739
-22%
|
2 649
-3%
|
2 036
-23%
|
1 806
-11%
|
|
EPS (Diluted) |
0.84
N/A
|
0.55
-35%
|
0.18
-67%
|
-0.08
N/A
|
-0.26
-225%
|
-0.33
-27%
|
-0.02
+94%
|
0.04
N/A
|
0.2
+400%
|
0.27
+35%
|
0.35
+30%
|
0.46
+31%
|
0.49
+7%
|
0.57
+16%
|
0.69
+21%
|
0.74
+7%
|
0.75
+1%
|
0.81
+8%
|
0.69
-15%
|
0.63
-9%
|
-0.14
N/A
|
-0.38
-171%
|
-0.5
-32%
|
-0.54
-8%
|
0.11
N/A
|
0.4
+264%
|
0.71
+78%
|
0.93
+31%
|
1.27
+37%
|
1.56
+23%
|
1.79
+15%
|
2.16
+21%
|
2.69
+25%
|
3.1
+15%
|
3.05
-2%
|
3.32
+9%
|
3.03
-9%
|
2.4
-21%
|
2.38
-1%
|
1.81
-24%
|
1.67
-8%
|