Tenaris outlines high single-digit Q3 sales decline amid tariff impact and shifting project mix
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Tenaris S.A. anticipates a high single-digit decline in Q3 sales due to lower fracking invoicing and reduced line pipe shipments. The company reported Q2 sales of $3.1 billion, down 7% year-on-year but up 6% sequentially, with an EBITDA of $733 million. CEO Paolo Rocca noted the impact of increased U.S. steel tariffs on market dynamics and emphasized the resilience of North American operations despite oil prices around $65. The outlook for Q4 remains uncertain, influenced by tariff developments and inventory levels.
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