BIT$TS
Tenaris Group · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Tenaris reported stable fourth quarter 2025 results with resilient margins and strong free cash flow generation despite tariff impacts.
Tenaris generated Q4 2025 net sales of 2995133000 and net income of 461063000, with EBITDA of 716859000 and a 23.9% EBITDA margin, while maintaining a net cash position of 3321973000.
- Net sales reached 2995133000 compared to 2845226000 in Q4 2024.
- Net income totaled 461063000 with EPS of 0.44 per share.
- EBITDA amounted to 716859000 with a 23.9% margin.
- Net cash position stood at 3321973000 at quarter end.
Headline financials
Revenue & EPS history
Tenaris · Revenue · Quarterly
$3B
Revenue by segment
Tenaris · $2.85B total across 2 segments · Q4 2024
- Tubes$2.7B—94.7%
- Others$150M—5.3%
Forward guidance
For the first quarter of 2026, Tenaris expects sales and margins to remain close to current levels, supported by stable drilling activity and resilient customer demand.
Tailwinds
- Sales and margins expected to remain close to Q4 2025 levels in Q1 2026.
- Resilient demand outlook from oil and gas companies.
- Stable drilling activity expected in the United States and Canada.
- Strong net cash position of 3321973000.
- Proposed annual dividend of 0.89 per share.
Headwinds
- Volatility in oil and gas prices.
- Full impact of 50% Section 232 tariffs.
- Pressure from raw material cost increases.
- No expected major increase in global drilling activity.
- OCTG prices have not yet fully reflected tariff increases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+1.1%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+0.8%
Avg return
30 days after
51%
25 / 49 earnings
Positive
+20.7%
Q4 2020
Best reaction
-8.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +9.1% | +8.8% | +12.2% | |
| Q1 2025 | -1.6% | +2.3% | +4.4% | |
| Q4 2024 | -0.7% | -6.6% | +0.8% | |
| Q1 2024 | -7.3% | -12.9% | -6.8% | |
| Q2 2024 | -8.4% | -10.7% | -5.5% | |
| Q4 2023 | +9.1% | +12.3% | +22.7% | |
| Q3 2023 | +10.5% | +13.0% | +11.3% | |
| Q2 2023 | -5.1% | -2.6% | -3.9% | |
| Q1 2023 | -2.5% | +1.0% | -9.8% | |
| Q4 2022 | +5.1% | -0.3% | -19.2% | |
| Q3 2022 | +7.0% | +6.9% | +9.7% | |
| Q2 2022 | -6.0% | -3.3% | +2.7% | |
| Q1 2022 | +1.3% | +2.2% | +16.7% | |
| Q4 2021 | -1.6% | -3.6% | +6.1% | |
| Q3 2021 | +4.1% | +10.2% | -12.7% | |
| Q2 2021 | -3.3% | -1.7% | -3.0% | |
| Q1 2021 | -3.4% | +1.6% | +5.3% | |
| Q4 2020 | +20.7% | +18.7% | +24.2% | |
| Q3 2020 | +16.0% | +27.1% | +64.4% | |
| Q2 2020 | -0.7% | -0.7% | -6.8% | |
| Q1 2020 | +4.8% | +3.8% | -3.0% | |
| Q4 2019 | +4.4% | -5.1% | -47.4% | |
| Q3 2019 | -5.0% | +5.1% | -0.4% | |
| Q2 2019 | -2.2% | -6.7% | -13.7% | |
| Q1 2019 | +0.9% | -2.4% | -14.0% | |
| Q4 2018 | +2.9% | +1.7% | +8.6% | |
| Q3 2018 | +5.2% | +4.9% | -17.0% | |
| Q2 2018 | -7.0% | -6.7% | -8.7% | |
| Q1 2018 | -0.0% | +0.5% | +0.5% | |
| Q4 2017 | +3.4% | +8.6% | +0.3% | |
| Q3 2017 | +12.2% | +12.6% | +9.0% | |
| Q2 2017 | -7.2% | -7.9% | -13.5% | |
| Q1 2017 | -3.2% | -4.4% | -5.0% | |
| Q4 2016 | -3.4% | -2.1% | -6.5% | |
| Q3 2016 | +3.7% | +4.0% | +22.2% | |
| Q2 2016 | +5.0% | +7.0% | +6.1% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | -2.2% | — | — | |
| Q2 2015 | +4.0% | — | — | |
| Q1 2015 | +1.9% | — | — | |
| Q4 2014 | -3.8% | — | — | |
| Q4 2013 | -3.4% | — | — | |
| Q2 2012 | +2.0% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q4 2010 | +0.7% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q3 2010 | +2.5% | — | — | |
| Q2 2010 | -7.7% | — | — |
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