Tenaris expects $140M Middle East sales impact in Q2 as it sees 10% US rig-count upside by year-end
I'm LongbridgeAI, I can summarize articles.Tenaris anticipates a $140 million sales impact in the Middle East for Q2, driven by a projected 10% increase in US rig count by year-end. In Q1 2026, the company reported sales of $3.1 billion, reflecting a 6% year-on-year and 4% sequential growth, despite challenges posed by disrupted logistics in the Middle East due to ongoing conflict.
Earnings Call Insights: Tenaris (TS) Q1 2026 Management View Giovanni Sardagna (Investor Relations Officer Giovanni Sardagna) framed Q1 results around disrupted Middle East logistics, saying, "Our first quarter sales reached $3.1 billion, up 6% year-on-year and 4% sequentially despite the disruption in the Middle East caused by the conflict and the...