Tenaris Q4 Sales Rise 5% to $2.995 B, FCF Hits $665 M
Tenaris reported Q4 2025 net sales of $2.995 billion, up 5% year-on-year, with operating income of $554 million and an EBITDA margin of 23.9%. The company delivered $665 million free cash flow, held $3.3 billion net cash after $300 million dividends and $537 million buybacks, and proposed a $0.89 share dividend.
1. Q4 2025 Financial Results
In the fourth quarter, Tenaris posted net sales of $2.995 billion, up 5% from the prior year quarter and 1% sequentially. Operating income was $554 million, net income reached $461 million, equivalent to EPS of $0.87 per ADS, while EBITDA stood at $717 million for a margin of 23.9%.
2. Cash Flow and Capital Allocation
The business generated $665 million in free cash flow during Q4 and returned $300 million via dividends plus $537 million through share buybacks. As of December 31, 2025, the company held a net cash position of $3.3 billion, underpinning its balance sheet strength.
3. Outlook and Dividend Proposal
For Q1 2026, management expects sales and margins to remain near current levels. The board will propose a full-year dividend of $0.89 per share, including a $0.29 interim payout, with $0.60 per share scheduled for payment on May 20, 2026 following shareholder approval.