Tenaris shares rise on Q3 rebound, improved Q4 and 2027 outlook
TS•Tenaris shares rose around 2.5% after third-quarter results beat estimates and the company forecast higher fourth-quarter sales and core profit. The company cited higher North American OCTG demand and prices.
1. Results and outlook
Tenaris shares rose around 2.5% after the steel pipe maker posted third-quarter results above estimates and offered a stronger near-term outlook. Tenaris expects higher sales and core profit in the fourth quarter, reflecting higher OCTG demand and prices in North America, setting a new baseline going into 2027. J.P. Morgan described the quarter as an expected sequential rebound, while Equita said the EBITDA margin rose 250 basis points from the prior quarter, compared with its expectation for no growth.
2. Shares outperform sector
Tenaris shares outperformed Europe's oil and gas sector, which was down 2% at a one-month low. Including Thursday's gains, Tenaris shares were up almost 54% year to date.
