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Tenaris

TS · Energy

Last earnings Aug 7, 2026

Key results

Net revenuequarter

3%

Summary of 2025 Third Quarter Results (Comparison with second quarter of 2025 and third quarter of 2024) 3Q 2025 2Q 2025 3Q 2024 Net sales ($ million) 2,978 3,086 (3%) 2,915 2% Operating income ($ million) 597 583 2% 537 11% Net income ($ million) 453 542 (16%) 459 (1%) Shareholders’ net income ($ million) 446 531 (16%) 448 (1%) Earnings per ADS ($) 0.85 0.99 (14%) 0.81 5% Earnings per share ($) 0.43 0.50 (14%) 0.40 5% EBITDA* ($ million) 753 733 3% 688 9% EBITDA margin (% of net sales) 25.3% 23.7% 23.6% *EBITDA in the third quarter of 2025 includes a $34 million gain recorded for the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Operating incomequarter

2%

Summary of 2025 Third Quarter Results (Comparison with second quarter of 2025 and third quarter of 2024) 3Q 2025 2Q 2025 3Q 2024 Net sales ($ million) 2,978 3,086 (3%) 2,915 2% Operating income ($ million) 597 583 2% 537 11% Net income ($ million) 453 542 (16%) 459 (1%) Shareholders’ net income ($ million) 446 531 (16%) 448 (1%) Earnings per ADS ($) 0.85 0.99 (14%) 0.81 5% Earnings per share ($) 0.43 0.50 (14%) 0.40 5% EBITDA* ($ million) 753 733 3% 688 9% EBITDA margin (% of net sales) 25.3% 23.7% 23.6% *EBITDA in the third quarter of 2025 includes a $34 million gain recorded for the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Net incomequarter

16%

Summary of 2025 Third Quarter Results (Comparison with second quarter of 2025 and third quarter of 2024) 3Q 2025 2Q 2025 3Q 2024 Net sales ($ million) 2,978 3,086 (3%) 2,915 2% Operating income ($ million) 597 583 2% 537 11% Net income ($ million) 453 542 (16%) 459 (1%) Shareholders’ net income ($ million) 446 531 (16%) 448 (1%) Earnings per ADS ($) 0.85 0.99 (14%) 0.81 5% Earnings per share ($) 0.43 0.50 (14%) 0.40 5% EBITDA* ($ million) 753 733 3% 688 9% EBITDA margin (% of net sales) 25.3% 23.7% 23.6% *EBITDA in the third quarter of 2025 includes a $34 million gain recorded for the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Free cash flowquarter

$133 million

Free cash flow for the quarter declined to $133 million as working capital rose by $312 million, largely due to an increase in trade receivables.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Tubes operating incomequarter

$34 million

In the third quarter of 2025 Tubes operating income includes a $34 million gain recorded in cost of sales, reflecting the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Revenuequarter

4.5%

Others The following table indicates, for our Others business segment, net sales, operating income and operating income as a percentage of net sales for the periods indicated below: Others 3Q 2025 2Q 2025 3Q 2024 Net sales ($ million) 103 166 (38%) 125 (17%) Operating income ($ million) 5 29 (84%) 10 (53%) Operating margin (% of sales) 4.5% 17.3% 7.9% Net sales of other products and services decreased 38% sequentially and decreased 17% year on year.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

With capexquarter

$185 million

With capital expenditures of $185 million, our free cash flow amounted to $133 million during the quarter.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Net revenueytd

7%

Analysis of 2025 First Nine Months Results 9M 2025 9M 2024 Increase/(Decrease) Net sales ($ million) 8,986 9,679 (7%) Operating income ($ million) 1,729 1,860 (7%) Net income ($ million) 1,512 1,558 (3%) Shareholders’ net income ($ million) 1,484 1,520 (2%) Earnings per ADS ($) 2.79 2.67 4% Earnings per share ($) 1.39 1.34 4% EBITDA* ($ million) 2,183 2,326 (6%) EBITDA margin (% of net sales) 24.3% 24.0% * EBITDA in 9M 2025 includes a $34 million gain from the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

EPSquarter

4%

Analysis of 2025 First Nine Months Results 9M 2025 9M 2024 Increase/(Decrease) Net sales ($ million) 8,986 9,679 (7%) Operating income ($ million) 1,729 1,860 (7%) Net income ($ million) 1,512 1,558 (3%) Shareholders’ net income ($ million) 1,484 1,520 (2%) Earnings per ADS ($) 2.79 2.67 4% Earnings per share ($) 1.39 1.34 4% EBITDA* ($ million) 2,183 2,326 (6%) EBITDA margin (% of net sales) 24.3% 24.0% * EBITDA in 9M 2025 includes a $34 million gain from the return of U.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

While shareholders’ net income declined 2% year on year, earnings per share increased 4% following the reduction of outstanding shares due to the share buybacks.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

After capexquarter

$495 million

After capital expenditures of $495 million, our free cash flow amounted to $1.3 billion.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

AI analysis

Q2 2025 · reported Oct 30, 2025

Based on: Earnings release — transcript not held

Free cash flow · Q2 2025
$133M
6-K · Oct 30, 2025
Tubes operating income · Q2 2025
$34M
6-K · Oct 30, 2025
With capex · Q2 2025
$185M
6-K · Oct 30, 2025

The quarter in charts

Capex & free cash flow

As stated

066.7133200$185MCapex Q$133MFree cash flow Q

6-K · Oct 30, 2025 Values as labeled in the release.

Headline figures

MetricQ2 2025Prior qtrYear ago
Net revenue3%——
Operating income2%——
Net income16%——
Free cash flow$133 million——
Tubes operating income$34 million——
Revenue4.5%——
With capex$185 million——
EPS4%——

6-K · Oct 30, 2025

Guidance · company-stated

No guidance located in the held release

Outlook statement

“Market Background and Outlook Oil and gas drilling activity has been increasing in the USA, Canada and Argentina.”

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$133M
With capex$185M
After capex$495M

Capital allocation

Dividend$0.29
With capex$185M
Free cash flow$133M
Net income2%
EPS4%

, EBITDA, Free Cash Flow, Net cash / debt and Operating working capital days.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of October 29, 2025

Based on: Earnings release — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

, EBITDA, Free Cash Flow, Net cash / debt and Operating working capital days.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Our net cash position also declined to $3,483 million as we spent a further $351 million in our share buyback program.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Interim Dividend Payment Our board of directors approved the payment of an interim dividend of $0.29 per share ($0.58 per ADS), or approximately $300 million, according to the following timetable: · Payment date: November 26, 2025 · Record date: November 25, 2025 · Ex-dividend for securities listed in the United States: November 25, 2025 · Ex-dividend for securities listed in Europe and Mexico: November 24, 2025 Market Background and Outlook Oil prices have softened as inventories and production from OPEC+ countries, deepwater and shale plays across the Americas increase, but remain volatile amidst a high level of geopolitical and economic uncertainty.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

With capital expenditures of $185 million, our free cash flow amounted to $133 million during the quarter.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Following share buybacks of $351 million in the quarter, our net cash position amounted to $3.5 billion at September 30, 2025.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

While shareholders’ net income declined 2% year on year, earnings per share increased 4% following the reduction of outstanding shares due to the share buybacks.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Strategy & priorities

Although there has been some reduction in oil drilling in recent months in the United States, Canada and Saudi Arabia, overall drilling activity remains resilient as operators focus on the longer-term outlook and reducing operational costs.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Risks & headwinds

Our margins also held up well although they still do not reflect the full impact of recent tariff increases.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Interim Dividend Payment Our board of directors approved the payment of an interim dividend of $0.29 per share ($0.58 per ADS), or approximately $300 million, according to the following timetable: · Payment date: November 26, 2025 · Record date: November 25, 2025 · Ex-dividend for securities listed in the United States: November 25, 2025 · Ex-dividend for securities listed in Europe and Mexico: November 24, 2025 Market Background and Outlook Oil prices have softened as inventories and production from OPEC+ countries, deepwater and shale plays across the Americas increase, but remain volatile amidst a high level of geopolitical and economic uncertainty.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

In the United States, following the increase in tariffs on imports of steel products from 25% to 50% in June, OCTG imports are coming down from the high levels of the first half but inventories remain at high levels and OCTG prices have yet to reflect the increased costs of the tariffs.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

In Argentina, the results of the mid-term congressional elections may reduce uncertainty and improve financing conditions for the further development of the Vaca Muerta shale play.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

For the fourth quarter, we expect our sales to remain close to the level of the third quarter, but our costs and margins will be affected by the full impact of the increase in tariff costs.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

antidumping deposits paid on OCTG imports from Argentina for which the duty rate had been revised downwards and in 9M 2024 includes a $174 million loss from the provision for ongoing litigation related to the acquisition of a participation in Usiminas.

SEC original ↗Tenaris — Earnings release (6-K report)6-KOct 30, 2025

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

TotalEnergies (TTE) EnergyYPF (YPF) EnergyCenovus Energy (CVE) EnergySuncor Energy (SU) EnergyCanadian Natural Resources (CNQ) EnergyWoodside Energy (WDS) EnergyCameco (CCJ) EnergyVista Energy, S.A.B. De C.V. (VIST) Energy
Documents

Filings

61 documents

Earnings releases

0 documents

No earnings releases for Tenaris are held in this edition of the library.

Presentations

0 documents

No presentations for Tenaris are held in this edition of the library.

Transcripts

0 documents

No transcripts for Tenaris are held in this edition of the library.

Mentioned by

1 company

Other tracked companies whose held documents mention Tenaris by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.