Tenaris (TS) late Wednesday reported Q4 net income of $0.94 per diluted American depository share compared with $1.92 a year earlier.

Analysts polled by FactSet, on average, expected $0.69.

Revenue for the quarter ended Dec. 31 was $2.85 billion, compared with $3.41 billion a year earlier.

Analysts expected $2.72 billion.

The steel pipe manufacturer Wednesday night also said Alicia Mondolo will step down as chief financial officer on May 2 and will be succeeded by Carlos Gomez Alzaga, who is the CFO for Tenaris' operations in Argentina and South America.

Tenaris also said board members plan to propose a dividend of $0.56 per share to be paid on May 21 to shareholders of record on May 20. The prospective payout is subject to approval of shareholders at the company's next annual meeting on May 6.

Tenaris stock was up almost 3% in after-hours trading.