Tubemaker Tenaris said net revenues for its South American business in Q1 fell 32 percent, year-on-year, to $224 million.
The company said net revenues also fell 15 percent in Q1, quarter-on-quarter, from $265 million in Q4 2019, due to weaker sales in Argentina and Colombia.
Tenaris reported a net loss of $666 million in Q1, up from a net loss of $548 million in Q1 2019.