Q3 2025 Tenaris SA Earnings Call Transcript
Key Points
- Tenaris SA (TS) reported third-quarter sales of $3 billion, up 2% year on year, showcasing resilience in a challenging market environment.
- The company's EBITDA increased by 3% sequentially to $753 million, with a strong EBITDA margin of 25%.
- Tenaris SA (TS) maintained a strong cash position with a net cash balance of $3.5 billion, despite share buybacks of $351 million.
- The Board approved an interim dividend of $0.29 per share, a 7% increase compared to the previous year, reflecting confidence in future cash flows.
- The company is expanding its production capabilities in the United States and Canada, ensuring a reliable supply of high-quality products to its customers.
- Third-quarter sales were down 3% sequentially, primarily due to lower sales in the North Sea and reduced shipments for offshore projects in the Middle East.
- Average selling prices in the Tubes segment decreased by 1% compared to the previous year and sequentially, indicating pricing pressure.
- The company's net cash position declined due to significant share buybacks, which may impact future liquidity.
- Tenaris SA (TS) faces increased costs due to tariffs, with an expected $40 million impact on EBITDA in the fourth quarter.
- The company anticipates a lower EBITDA in the fourth quarter due to the full effect of tariffs on cost of sales.
Good day, and thank you for standing by. Welcome to the third-quarter Tenaris S.A. earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Giovanni Sardagna, Investor Relations Officer. Please go ahead.
Thank you, Gigi, and welcome to Tenaris 2025 third-quarter conference call. Before we start, I would like to remind you that we will be discussing forward-looking information during the call and that our actual results may vary from those expressed or implied during the call.
With me on the call today are Paolo Rocca, our Chairman and CEO; Carlos Gomez Alzaga, our Chief Financial Officer; Gabriel Podskubka, our Chief Operating Officer; and Guillermo Moreno, President of our US operations.
Before passing over the call to Paolo for his opening remarks, I would like to briefly comment our quarterly results. Our third quarter sales reached $3 billion, up 2
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