Monitor Q4 2026 results to confirm management's expectation of a new quarterly baseline for sales and EBITDA, and watch for any changes in OCTG demand and pricing in North America.
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Executive Summary
Tenaris reported Q3 2026 results with net sales of $3,102 million, up 5% sequentially and 4% year-over-year, and net income of $521 million, up 15% year-over-year. The company expects Q4 sales and EBITDA to increase further, setting a new quarterly baseline. Free cash flow was $268 million in the quarter, and the net cash position stood at $3.8 billion.
Key Financial Metrics
Key Facts
- Q3 2026 net sales $3,102 million, up 5% sequentially and 4% year-over-year
- Q3 2026 net income $521 million, up 15% year-over-year
- Q3 2026 EBITDA $756 million, flat year-over-year; EBITDA margin 24.4% vs 25.3% in Q3 2025
- Free cash flow $268 million in Q3 2026
- Net cash position $3.8 billion at September 30, 2026
- Management expects Q4 2026 sales and EBITDA to increase, setting a new quarterly baseline
- Share buybacks of $90 million in first nine months of 2026
Financial Impact
Q3 net sales $3,102M, net income $521M, EBITDA $756M; net cash $3.8B
Risk Factors
- Geopolitical disruptions in the Middle East affecting shipping and drilling activity
- Higher raw material, energy and logistic costs pressuring margins
- US tariff costs impacting operating results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3395903 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 5, 2026 today | 6-K | No price | awaiting T+20 | awaiting T+20 | No price |
Nov 4, 2026 1d ago | Press Release | $59.37 | awaiting T+20 | awaiting T+20 | $56.53 (−4.78%) |
Aug 7, 2026 12w ago | 6-K | $53.04 $56.45 | ▼ −6.43% | ▼ −6.83% | $56.53 (−6.58%) |
Aug 7, 2026 12w ago | 6-K | $53.04 $56.45 | ▼ −6.43% | ▼ −6.83% | $56.53 (−6.58%) |
Aug 7, 2026 12w ago | 6-K | $53.04 $56.45 | ▼ −6.43% | ▼ −6.83% | $56.53 (−6.58%) |
Aug 5, 2026 13w ago | Press Release | $53.40 $56.31 | ▲ +5.45% | ▲ +4.85% | $56.53 (+5.86%) |
May 8, 2026 25w ago | Press Release | $61.87 $61.31 | ▼ −0.91% | ▼ −0.60% | $56.53 (−8.63%) |
May 6, 2026 26w ago | Press Release | $58.96 $64.02 | ▲ +8.58% | ▲ +5.45% | $56.53 (−4.12%) |
May 6, 2026 26w ago | Press Release | $58.96 $64.02 | ▲ +8.58% | ▲ +5.45% | $56.53 (−4.12%) |
Mar 30, 2026 31w ago | Press Release | $58.18 $63.11 | ▲ +8.47% | ▼ −0.95% | $56.53 (−2.84%) |
US Market Status
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