Tenaris' net profit in the second quarter increased by 14% year-on-year

Tenaris Steel Pipe Company released its financial report for the second quarter and the first half of 2025. According to the financial report, the company's net sales in the second quarter were 3.086 billion US dollars, an increase of 6% quarter-on-quarter but a decrease of 7% year-on-year. Net profit was 542 million US dollars, representing a 5% increase quarter-on-quarter and a 14% increase year-on-year.
Tenaris pointed out in its report that its sales in the second quarter increased quarter-on-quarter, mainly due to the rise in the price of oil-specific pipes in North America and the stable shipment volume in the region.
Tenaris made a forecast on the operational situation in the third quarter at the end of the report. It pointed out that international oil prices have recently declined as OPEC+ (Organization of the Petroleum Exporting Countries) has accelerated the revocation of its voluntary production cut of 2.2 million barrels per day, and as economic and geopolitical uncertainties have intensified, leading to a slowdown in demand growth, international oil prices have fallen. Although oil drilling activities in the United States, Canada and Saudi Arabia have slightly declined, global drilling activities as a whole remain resilient. In Mexico, with the new round of financing for the country's state-owned oil company Pemex in place, the previously sluggish drilling activities are expected to gradually recover. Due to the recent increase in tariffs on imported steel products by the United States from 25% to 50%, it is expected that the import volume of oil-specific pipe materials in the United States will decline from the high level in the first half of the year in the second half of the year, and the price will also gradually rise. Against this backdrop, Tenaris expects its sales in the second half of the year to decline slightly compared to the first half.

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