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Update: Tenaris Q1 Earnings, Revenue Rise; Flags Q2 Sales Hit; Shares Down Pre-Bell

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(Updates with the stock move in the headline and the last paragraph.)

Tenaris (TS) reported Q1 earnings late Wednesday of $1.07 per American depository share, up from $0.94 a year earlier.

Analysts polled by FactSet expected $0.89.

Net sales for the quarter ended March 31 rose to $3.10 billion from $2.92 billion a year earlier.

Analysts surveyed by FactSet expected $2.99 billion.

For Q2, the company said it expects sales will be affected by lower shipments in the Middle East.

Tenaris shares were down 6.1% in premarket activity Thursday.

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