Tenaris Q3 Earnings: 15% Profit Boost Signals Strong Steel Pipe Demand

Steel News  |  2026-11-10 04:46:18   |   By

The company's Tubes segment generated $2.927 billion in quarterly revenue, up 4% from the preceding quarter.

Summary

  • Tenaris Reports Higher Q3 Revenue and Net Income

    - Tenaris recorded a 15% year-on-year increase in net income to $521 million in Q3 2026, while net sales rose 4% to $3.102 billion. EBITDA edged up to $756 million, although the EBITDA margin declined from 25.3% to 24.4%.

  • North American and Middle Eastern Markets Drive Shipment Growth

    - Total pipe shipments increased 3% sequentially to 976,000 metric tons. North American sales climbed 12% quarter-on-quarter, supported by stronger oil country tubular goods (OCTG) demand and higher line pipe deliveries. Increased shipments to Kuwait, Iraq and North African markets also supported growth.

  • Strong Cash Position and Positive Q4 Outlook

    - Tenaris generated $268 million in free cash flow during the quarter and maintained a net cash position of $3.8 billion as of September 30, 2026. The company expects higher sales and earnings in Q4, supported by improving North American OCTG demand, better pricing and additional offshore project deliveries.

SEATTLE (Scrap Monster): Global steel pipe manufacturer Tenaris reported improved financial performance in the third quarter of 2026, supported by stronger demand in North America and increased shipments to Middle Eastern customers.

The company's net income rose 15% year-on-year to $521 million, while net sales jumped 4% to $3.102 billion. Operating income reached $598 million, compared with $597 million in the corresponding quarter of 2025. EBITDA increased slightly to $756 million from $753 million. However, the EBITDA margin dropped from 25.3% to 24.4%.

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The company's Tubes segment generated $2.927 billion in quarterly revenue, up 4% from the preceding quarter. Total pipe shipments increased 3% sequentially to 976,000 metric tons. North American sales climbed 12% quarter-on-quarter, reflecting stronger oil country tubular goods (OCTG) demand and higher line pipe deliveries. The growth was mainly driven by increased shipments to Kuwait, Iraq and North African markets.

Tenaris generated $268 million in free cash flow during the quarter and maintained a substantial net cash position of $3.8 billion as on September 30, 2026.

For the first nine months of 2026, net sales increased 2% to $9.169 billion, while net income improved 4% to $1.578 billion. EBITDA stood at $2.141 billion, down 2% year-on-year.

Looking ahead, Tenaris anticipates higher sales and earnings in Q4, supported by improving OCTG demand and pricing in North America and additional deliveries for offshore projects.