Vallourec SAOTCPK - Current
Tue, Nov. 8, 12:48 PM
Thu, Jul. 28, 1:10 PM
Tue, May 24, 2:53 PM
- Brazilian police say they are investigating local units of U.S. Steel (X -2.1%) and two other international steelmakers, in a second day of raids probing graft at Petrobras (X -0.2%).
- Police and prosecutors allege that Apolo Tubulars, which is 50% owned by U.S. Steel, and Tenaris' (NYSE:TS) Brazilian unit Confab were involved in graft at the state-run oil company; the police say they have no proof of corruption at French pipe-maker Vallourec (OTCPK:VLOUF) but are continuing their investigation of the company's Brazilian unit.
- The actions are the latest in the two-year-old Operation Car Wash probe that has scooped up dozens of Brazil's leading politicians and construction executives as well as top Petrobras officials.
Thu, Feb. 18, 3:39 PM
- Vallourec SA (OTCPK:VLOUF): Q4 EPS of -€3.30
- Revenue of €861M (-48.1% Y/Y)
Jun. 10, 2014, 12:59 PM
- Tenaris (TS -3.7%) is lower following downside guidance from French steel pipes maker Vallourec (VLOUF -8%), which reduced its 2014 EBITDA outlook by ~10% Y/Y due to soft orders in the Middle East, the North Sea and Brazil.
- Vallourec cites a significant temporary reduction in demand for its oil and gas operations in Brazil, as Petrobras (PBR +0.5%) has decided to eliminate most of its tube inventories by year end; it says PBR was still committed to its high-value deepwater oil projects, so the impact of the inventory run-down would be a one-off for Vallourec.