Tenaris S.A. filings document the disclosures of a foreign private issuer that supplies steel tubes and related services to the energy industry and other industrial applications. Form 6-K reports include IFRS interim financial statements, quarterly results releases, Tubes segment sales volumes for seamless and welded pipe, regional sales data, non-IFRS measures, and press releases on governance and capital allocation.
Annual and meeting-related filings include the Form 20-F annual report, consolidated management report, sustainability statement, management certifications, auditor reports, shareholder meeting notices, proxy materials, share and voting-right information, and board matters. Other filings furnish material corporate development announcements and securities-transaction notices under European market-abuse rules.
Tenaris (TS) reported third-quarter 2025 results with net sales of $2,978 million and operating income of $597 million. Net income was $453 million, with earnings of $0.43 per share and $0.85 per ADS. EBITDA reached $753 million and a 25.3% margin, including a $34 million gain from returned U.S. antidumping deposits; excluding this, EBITDA was $719 million and 24.1% of sales.
Free cash flow was $133 million as working capital rose by $312 million. The company ended the quarter with net cash of $3.5 billion after $351 million of share buybacks. The board approved an interim dividend of $0.29 per share ($0.58 per ADS), or approximately $300 million.
Sales of tubular products and services were resilient in North America and benefited from early shipments in the Middle East, while Argentine oilfield services softened. Management expects fourth-quarter sales to remain close to third-quarter levels, with costs and margins reflecting the full impact of higher U.S. tariff costs.
Tenaris S.A. reports that its indirect controlling shareholder San Faustin S.A. and direct controlling shareholder Techint Holdings S.à r.l. have filed an amendment to their Schedule 13D with the SEC. In response to Tenaris’s ongoing share repurchase program, which has passively increased San Faustin’s percentage ownership, San Faustin’s board authorized Techint Holdings on September 17, 2025 to sell some Tenaris ordinary shares, as long as Techint Holdings’ stake does not drop below 67% of Tenaris’s total outstanding ordinary shares.
The controlling shareholders indicated that any sales will depend on market conditions and other factors, and there is no assurance that sales will occur or when. They also stated they do not currently intend to reduce their beneficial ownership below 67%, and have no present plans for extraordinary corporate transactions or major changes in Tenaris’s capital structure, though they may buy or sell additional shares over time depending on conditions.
Tenaris S.A. filed a Form 6-K reporting weekly activity under the first tranche of its share buyback program. The company is executing a tranche of up to USD600 million within a broader USD1.2 billion buyback plan announced on June 6, 2025. From September 15, 2025 to September 19, 2025, Tenaris repurchased 179,100 ordinary shares for total consideration of €2,704,541, equivalent to USD3,203,339. As of September 19, 2025, Tenaris held 29,678,298 ordinary shares in treasury, representing 2.77% of its total issued share capital. The company states it intends to cancel treasury shares acquired under the programs in due course.
Amendment No. 12 to the Schedule 13D for Tenaris S.A. reports that the Reporting Persons collectively hold 713,605,187 Ordinary Shares, representing 68.45% of issued shares following Tenaris S.A.'s open-market repurchases made under its 2025-2026 buyback program. The amendment notes that SAN FAUSTIN's board authorized TECHINT HOLDINGS to sell some of its shares for portfolio-management purposes, provided TECHINT HOLDINGS' ownership does not fall below 67% of outstanding Ordinary Shares. The filing confirms no transactions by the Reporting Persons in the last 60 days and otherwise incorporates prior Schedule 13D disclosures by reference.
Tenaris reported that under the First Tranche of its USD1.2 billion share buyback program (with up to USD600 million to be executed in the open market), it repurchased 3,813,885 ordinary shares from August 4 to August 8, 2025 for a total consideration of €58,467,805 (equivalent to USD67,863,378). As of August 8, 2025 the company held 26,534,450 treasury shares, representing 2.48% of issued share capital. Tenaris states it intends to cancel treasury shares purchased under the program in due course, and provides transaction details on its investor website.
The announcement also includes a standard forward-looking statement cautioning that outcomes may be affected by risks such as future oil and gas prices.
Tenaris S.A. (TS) – 2025 Half-Year Form 6-K highlights
- Revenue: US$6.01 bn, down 11% YoY on 5% lower pipe volumes and 7% lower ASPs, mainly in North America.
- Profitability: Operating income fell 14% to US$1.13 bn (18.9% margin vs. 19.6%). Net income slipped 3% to US$1.06 bn; however EPS rose 4% to US$0.97 owing to share buybacks.
- EBITDA: US$1.43 bn; margin 23.8% vs. 26.7% (ex-2024 litigation charge) – a 21% absolute decline.
- Cash & Liquidity: Operating cash flow US$1.49 bn; capex US$309 m → free cash flow US$1.20 bn. Net cash position solid at US$3.73 bn.
- Capital return: US$0.83/sh annual dividend (US$0.56 balance paid May-25) and US$0.47 bn shares bought back in H1; a new US$1.2 bn buyback launched in June.
- Balance sheet: Equity US$16.79 bn; net working-capital released US$0.25 bn.
- Outlook: Management guides a “moderate” 2H revenue decline and margin pressure from recently doubled U.S. steel tariffs (25%→50%) and lower drilling activity.
Key risks disclosed include tariff escalation, volatile OCTG demand, climate-related regulation, litigation, geopolitical disruptions and cybersecurity threats.
Q2 2025 highlights: Net sales rose 6 % QoQ to $3.09 bn but were 7 % below Q2 2024. EBITDA reached $733 m (+5 % QoQ) with a 23.7 % margin. Net income increased to $542 m (+5 % QoQ, +56 % YoY). Tubes revenue advanced 6 % sequentially as higher OCTG prices offset a 1 % volume dip; welded volumes fell 16 % QoQ.
Cash & returns: Operating cash flow of $673 m and capex of $135 m delivered free cash flow of $538 m. After paying $600 m in dividends and executing $237 m of share buybacks, Tenaris ended the quarter with a strong $3.7 bn net cash position. EPS per ADS reached $0.99.
First-half view: Sales dropped 11 % YoY to $6.0 bn as North-American pricing weakened; EBITDA margin slid to 23.8 %. Free cash flow totalled $1.2 bn and EPS still grew 4 % due to reduced share count.
Outlook: Management foresees a moderate sales decline and margin pressure in H2 2025 owing to softer drilling activity and higher U.S. steel tariffs, though firmer OCTG pricing should offer partial relief.