Tenaris S.A. Q3 2025 Earnings Recap

Tenaris reported third-quarter sales of $3 billion, reflecting a modest year-on-year increase despite sequential declines, bolstered by solid performance in North America amid softer market conditions.

Key Takeaways

• Year-on-year sales grew by 2%, but sequential sales dipped by 3%, driven by lower activity in the North Sea and Middle East.
• EBITDA increased by 3% sequentially to $753 million, yielding a stable margin of 25%; adjusting for a $34 million one-off gain, EBITDA was $719 million.
• The board declared an interim dividend of $0.29 per share, a 7% increase compared to last year's dividend.
• Tenaris solidified its market position through strategic local production in North America, addressing supply chain challenges and enhancing customer service.
• The company's commitment to sustainability is evidenced by the recent activation of a new 95-megawatt wind farm in Argentina, advancing its carbon reduction goals.