Tenaris reported a strong second quarter in 2025, with net sales increasing by 6% sequentially to $3.086 billion. This growth was primarily fueled by higher OCTG prices in North America and stable volumes. The company also saw increases in operating income, net income, and EBITDA, while maintaining margins in line with the previous quarter despite rising costs of sales.
Net sales increased by 6% sequentially to $3.086 billion, primarily due to higher North American OCTG prices.
Operating income rose by 6% sequentially to $583 million, and net income increased by 5% to $542 million.
EBITDA grew by 5% sequentially to $733 million, with EBITDA margin at 23.7%.
Free cash flow for the quarter was $538 million, contributing to a net cash position of $3.7 billion at quarter-end.
Tenaris anticipates a moderate decline in sales for the second half of the year compared to the first half, primarily due to lower drilling activity and a reduced contribution from line pipe projects. Margins are also expected to be impacted by increased tariff costs.
Visualization of income flow from segment revenue to net income