Q4 2025 Tenaris SA Earnings Call Transcript
Key Points
- Tenaris SA (TS) reported a 5% year-over-year increase in sales for the fourth quarter of 2025, reaching $3 billion.
- The company maintained a strong net cash position of $3.3 billion despite significant expenditures on dividends and share buybacks.
- Tenaris SA (TS) is proposing a 7% increase in the annual dividend per share, reflecting confidence in its financial stability.
- The company demonstrated resilience in a challenging geopolitical environment, maintaining stable results with an EBITDA of $2.9 billion for the year.
- Tenaris SA (TS) is expanding its services in key regions, including the US, Canada, and Latin America, and is well-positioned to capitalize on new offshore projects globally.
- EBITDA for the fourth quarter decreased by 5% sequentially, impacted by the 50% Section 232 tariffs in the US.
- Average selling prices in the Tube operating segment decreased by 1% compared to the previous year.
- The company experienced a decrease in its net cash position due to significant expenditures on share buybacks and dividends.
- The geopolitical environment and market volatility make medium-term forecasting challenging for Tenaris SA (TS).
- The company faces pricing pressure in international markets, particularly in lower-end applications, and is impacted by import competition in the US welded pipe market.
Good day and thank you for standing by. Welcome to the fourth-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 fourth quarter and annual results 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 Gómez Ãlzaga, 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.
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