Tenaris SA (TS) Q3 2025 Earnings Call Summary: Strong Performance Despite Market Obstacles
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 31 2025
0mins
Should l Buy TS?
Source: Yahoo Finance
Financial Performance: Tenaris SA reported third-quarter revenue of $3 billion, a 2% increase year-on-year, with EBITDA rising 3% sequentially to $753 million and a strong EBITDA margin of 25%.
Dividend and Cash Position: The company declared an interim dividend of $0.29 per share, a 7% increase from the previous year, while maintaining a net cash position of $3.5 billion despite significant share buybacks.
Market Challenges: Average selling prices in the Tubes segment decreased by 1%, and the company anticipates a lower EBITDA in the fourth quarter due to the impact of tariffs, which are expected to cost $40 million.
Outlook for Argentina and Markets: Following the Argentinian elections, Tenaris expects increased investments in the energy sector, while the Middle East market shows stability with potential growth, particularly in Saudi Arabia and ongoing offshore projects.
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Analyst Views on TS
Wall Street analysts forecast TS stock price to fall
6 Analyst Rating
3 Buy
2 Hold
1 Sell
Moderate Buy
Current: 47.080
Low
36.00
Averages
43.43
High
48.00
Current: 47.080
Low
36.00
Averages
43.43
High
48.00
About TS
Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Structural Re-rating: Jeff Krimmel of Krimmel Strategy Group emphasizes that this rally is not merely momentum-driven but reflects a structural re-rating of oil-related equities, which could reshape capital flows and investment priorities over the next decade.
- Relative Performance Boost: Year-to-date, oilfield services stocks have outperformed software by nearly 60 percentage points, pushing their relative performance ratio to its highest level since November 2023, showcasing investors' preference for value-linked energy plays.
- Sustainable Growth Potential: As market confidence in oilfield services strengthens, attention shifts to whether these companies can convert operational momentum into sustainable earnings growth, indicating that the oilfield services sector is regaining investor focus.
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- Analyst Target Variance: Among the 12 analysts covered by Zacks, target prices range from $18.83 to $50.00, with a standard deviation of $8.346, reflecting differing market perspectives on Tenaris SA's future, necessitating cautious investor evaluation.
- Market Signal: The stock's breach of the target price provides investors with an opportunity to reassess Tenaris SA, prompting them to determine whether the current price is merely a step towards a higher target or if it is time to consider taking profits.
- Analyst Ratings: Analyst ratings range from 1 (Strong Buy) to 5 (Strong Sell), indicating a divergence in market views on Tenaris SA, and investors should monitor analysts' subsequent reactions to guide their investment decisions.
See More
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- Passenger Increase: The number of passengers reached 1.9 million in the same period, up 0.9%, with a notable rise in cruise passengers contributing to this growth, highlighting the positive impact of tourism recovery on port operations.
- Vessel Calls Decline: Despite the increase in cargo and passenger numbers, vessel calls decreased by 4.8%, suggesting that while the port is accommodating larger vessels, there is a need to optimize navigation efficiency to enhance overall operational capacity.
- Robust Annual Performance: For the full year 2025, Tallinna Sadam handled nearly 14 million tonnes of cargo, a 5.1% increase, and over 8 million passengers, demonstrating the company's sustained growth and adaptability in both freight and passenger sectors.
See More
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- Passenger Increase: The number of passengers reached 1.9 million in the same period, up 0.9%, with the rise in cruise passengers being a key driver, showcasing the port's ongoing appeal in the tourism sector.
- Vessel Call Dynamics: Although the number of vessel calls decreased by 4.8%, the larger size of visiting ships indicates an enhanced capacity to handle bigger vessels, which aids in optimizing operational efficiency.
- Annual Performance Overview: For the full year 2025, Tallinna Sadam handled nearly 14 million tonnes of cargo and over 8 million passengers, marking increases of 5.1% and 1.0% respectively, demonstrating a sustained growth trend in both freight and passenger operations.
See More
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- Dividend Stock Selection: Among the top ten dividend stocks, d'Amico International Shipping boasts a yield of 10.26%, highlighting its appeal in the market and potentially attracting investors seeking high returns.
- Tenaris Financial Overview: With a market cap of €17.49 billion, Tenaris generates $11.26 billion from its Tubes segment in 2025, and although its dividend yield stands at 4.1%, recent buybacks totaling $588 million may enhance shareholder value.
- Banking Sector Dynamics: Liechtensteinische Landesbank, valued at CHF 2.65 billion, offers a dividend yield of 3.2% with a payout ratio of 50.8%, indicating earnings coverage and reflecting a solid foundation amidst strategic leadership transitions.
See More
Tenaris Acquires 5.07% Voting Rights Under Buyback Program
- Buyback Proportion Increase: As of December 17, 2025, Tenaris has repurchased ordinary shares amounting to 5.07% of its voting rights under its buyback program, which is expected to enhance earnings per share and increase shareholder value.
- Share Cancellation Plan: The repurchased ordinary shares will be held in treasury with voting rights suspended and will be canceled in due course, thereby reducing the number of shares outstanding and further enhancing shareholder control.
- Controlling Shareholder Activity: On December 12, 2025, Tenaris's controlling shareholders, San Faustin S.A. and Techint Holdings S.à r.l., sold 2.6 million ordinary shares under a non-discretionary sales mandate, reflecting a strategic approach to managing market liquidity.
- Accelerated Disposal Agreement: Techint Holdings entered into an accelerated share disposal agreement with a European financial institution to sell up to 21 million shares from December 15, 2025, to May 19, 2026, aimed at optimizing its investment portfolio and responding to market fluctuations.
See More
