Tenaris Q3 Profit Jumps 15% on Robust Steel Pipe Demand
Steel News | 2026-11-10 06:07:51
The company's Tubes segment generated $2.927 billion in quarterly revenue, up 4% from the preceding quarter.
By Paul Ploumis
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.
POLL
By what percentage did Tenaris' net income increase year-on-year in Q3 2026?
Frequently Asked Questions
- How did Tenaris perform financially during the third quarter of 2026?
Tenaris reported a 15% year-on-year increase in net income to $521 million, while net sales advanced 4% to $3.102 billion. Operating income reached $598 million, compared with $597 million in Q3 2025. EBITDA increased slightly to $756 million, although its margin declined to 24.4% from 25.3%.
- What factors contributed to the increase in Tenaris' pipe shipments?
Total pipe shipments increased 3% sequentially to 976,000 metric tons. Stronger OCTG demand and higher line pipe deliveries boosted North American sales by 12% quarter-on-quarter. Increased shipments to Kuwait, Iraq and North African markets provided additional support.
- What was Tenaris' financial performance during the first nine months of 2026?
For the first nine months of 2026, Tenaris recorded net sales of $9.169 billion, up 2% year-on-year. Net income increased 4% to $1.578 billion, while EBITDA declined 2% to $2.141 billion.
