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Tenaris SA's Q2 net income rises 44% on year

Tenaris SA on July 31 reported a second-quarter net income of $240 million, up 44% from $166 million a year ago.

The Luxembourg-based steel pipes manufacturer's net sales for the quarter came in at $1.92 billion, up 7% from the $1.79 billion posted during the same period in 2018.

Operating income was pegged at $234 million for the quarter compared to the $222 million seen during the second quarter of 2018.

Total tube sales came in at $1.81 billion, 8% higher than the $1.69 billion reported for the corresponding quarter a year prior.

The company reported a second-quarter free cash flow of $244.9 million compared to the $247.4 million seen during the same period in 2018.