Tenaris SA

TEN: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tenaris Earnings: Results Beat Our Expectations; Despite Near-Term Headwinds, We See Modest Upside

Joshua Aguilar , Abby Weimer

May 1, 2025

Tenaris' first quarter revenue declined 15% year on year to $2.9 billion. Average selling prices in its tubes segment decreased 11% year on year due to market and mix impacts from lower sales of premium tubes. Still, volumes improved sequentially in both Canada and in US onshore.

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Tenaris SA

Tenaris Earnings: Results Beat Our Expectations; Despite Near-Term Headwinds, We See Modest Upside

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