Tenaris reduced pipe sales to 2.95 million tons in January-September

Sales decreased by 2% y/y, while the average product price decreased by 4% y/y

In January-September 2025, international pipe company Tenaris sold 2.95 million tons of pipe products, which is 2% less than in the same period of 2024. Sales of seamless pipes increased by 1% y/y – to 2.36 million tons, while supplies of welded pipes decreased by 14% y/y to 589,000 tons, according to the company’s financial report.

Revenue from pipe sales amounted to $8.56 billion, which is 7% less than last year. The average selling price decreased by 4% y/y, mainly due to lower product prices in the Americas. Overall, drilling activity in the US and Canada declined by 6% y/y, and in international markets by 7% y/y.

By region, sales decreased in North America by 5% y/y – to $4.1 billion, in South America by 6% y/y ($1.6 billion), and in Europe by 24% y/y ($612 million), and in Asia-Pacific, the Middle East, and Africa by 7% y/y ($2.25 billion).

Operating profit in the pipe segment amounted to $1.66 billion, down 6% YoY, but profitability remained at 19.4%. The company’s EBITDA amounted to $2.18 billion (-6% y/y), and net profit amounted to $1.51 billion (-3% y/y).

In Q3, pipe sales remained at 979 thousand tons, compared to 982 thousand tons in Q2. Sales of seamless pipes decreased by 3% q/q, while sales of welded pipes increased by 11% q/q. The company notes steady sales in the US, Canada, and Mexico, as well as shipments for the Vaca Muerta Sur project in Argentina.

At the end of September, Tenaris’ net cash position was $3.5 billion, and free cash flow was $1.3 billion.

As GMK Center reported earlier, Tenaris reduced its pipe sales by 5% in 2024 compared to 2023, from 4.14 million tons to 3.93 million tons. During the year, shipments of seamless pipes to customers amounted to 3.08 million tons, down 4% year-on-year, and welded pipes – 852 thousand tons (-11% year-on-year).