Tenaris 2Q FY26 shareholders’ net income drops 10% to $477 million; net sales fall 4% to $2.97 billion vs 2Q FY25
TS•Outlook
Tenaris sees second-half sales and EBITDA broadly in line with the first half, with 3Q hit by seasonality and 4Q supported by higher prices and volumes.
Second-quarter results
Tenaris posted 2Q 2026 net income of USD 492 million, down 13% from 1Q 2026 on lower operating results.
Net sales slipped 4% from 1Q 2026 to USD 2.97 billion as Middle East shipments were postponed amid the strait of Hormuz disruption.
IFRS operating income fell 15% from 1Q 2026 to USD 494 million; EBITDA (non-IFRS) declined 12% to USD 649 million, and margin narrowed 1.8 percentage points to 21.9%.
Free cash flow (non-IFRS) totaled USD 396 million; net cash position stood at USD 3.6 billion at June 30, 2026.
