Tenaris (ADR)
Makes tubular products and runs mill-to-well services for energy and industrial customers.
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Profile
Supplies OCTG, line pipe, premium connections and related services through a global manufacturing and service network. Tubes generates most sales, North America is the largest region, and demand depends on drilling activity, project timing, trade policy and mill utilization.
Manufactures seamless and welded OCTG, line pipe, premium connections, industrial tubes and tubular components. Rig Direct logistics, coating, inspection and field support extend the offer from mill to well, while the same metallurgy serves geothermal, hydrogen and carbon-capture applications.
Tubes accounts for most sales, with Others covering oilfield services, sucker rods, coiled tubing and selected construction products. North America is the largest region, alongside operations and customers across South America, Europe, Asia, the Middle East and Africa.
Execution depends on integrated steelmaking, pipe production, regional finishing and proprietary connection technology. Demand follows oil-and-gas drilling and project timing, while tariffs, local-content rules, raw-material inputs and fixed-cost mill utilization shape operations.
Company facts
Categories
Key statistics
Year to date +38.1% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Morgan Stanley | Reiterate | Equal Weight | $65 | $60 | |
| Aug 10, 2026 | Barclays | Reiterate | Overweight | $82 | $80 | |
| Jul 15, 2026 | Morgan Stanley | Upgrade | Underweight | Equal Weight | $53 | $65 |
| May 18, 2026 | Piper Sandler | Reiterate | Neutral | $56 | $60 | |
| May 14, 2026 | Morgan Stanley | Target | $50 | $53 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.79 | $0.95 | +20.3% | $2.93B | $2.97B | +1.1% | −6.40% |
| May 6, 2026Q1 FY26 | $0.87 | $1.07 | +23.0% | $3.03B | $3.10B | +2.2% | −5.56% |
| Feb 18, 2026Q4 FY25 | $0.76 | $0.87 | +14.5% | $2.95B | $3.00B | +1.4% | +7.86% |
| Oct 29, 2025Q3 FY25 | $0.75 | $0.85 | +13.3% | $2.95B | $2.96B | +0.5% | +4.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.92B | $3.09B | $2.96B | $3.00B | $3.11B | $2.97B | |
| Gross profit | $1.00B | $1.07B | $1.03B | $1.02B | $1.05B | $984.7M | |
| Operating income | $549.9M | $582.7M | $596.6M | $556.8M | $585.7M | $494.0M | |
| Net income | $506.9M | $531.3M | $443.7M | $448.9M | $542.7M | $477.1M | |
| Diluted EPS | $0.94 | $1.00 | $0.82 | $0.86 | $1.04 | $0.94 | |
| Gross margin | 34.3% | 34.7% | 34.7% | 33.9% | 33.9% | 33.2% | |
| Operating margin | 18.8% | 18.9% | 20.1% | 18.6% | 18.8% | 16.7% |
Fiscal years (4-quarter sums)FY21 $6.52B · FY22 $11.76B · FY23 $14.87B · FY24 $12.52B · FY25 $11.97B
Balance sheet, Jun 30, 2026Cash & short-term investments $2.78B · Total debt $447.0M · Total assets $20.31B · Shareholders' equity $16.96B
Dividends
Raised for 4 straight years — most recently to $1.20 from $0.58 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 19, 2026 | May 19 | May 28 | $1.20 | raised from $0.58 |
| Nov 25, 2025 | Nov 25 | Dec 3 | $0.58 | cut from $1.12 |
| May 20, 2025 | May 20 | May 28 | $1.12 | raised from $0.54 |
| Nov 19, 2024 | Nov 19 | Nov 27 | $0.54 | cut from $0.80 |
| May 20, 2024 | May 21 | May 29 | $0.80 | raised from $0.40 |
| Nov 20, 2023 | Nov 21 | Nov 29 | $0.40 | cut from $0.68 |
| May 22, 2023 | May 23 | May 24 | $0.68 | raised from $0.34 |
| Nov 21, 2022 | Nov 22 | Nov 30 | $0.34 | cut from $0.56 |
Ownership
Shares outstanding 536.56M · Float 504.02M · 93.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Techint Holdings S.A R.L. | 692.09M | 68.60% | 13D | Feb 10, 2026 |
| FMR LLC | 6.76M | 1.26% | 13F | Aug 13, 2026 |
| Renaissance Technologies LLC | 3.06M | 0.57% | 13F | Aug 13, 2026 |
| Van Eck Associates Corp | 2.48M | 0.46% | 13F | Aug 14, 2026 |
| Wellington Management Group LLP | 2.46M | 0.46% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- ArcelorMittal (ADR)
Broad tubular rival in OCTG, line pipe, coatings, and process pipe
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tenaris (ADR) | $54.10 | +0.26% | $28.96B | 14.7 | 14.0 | 2.3 | −5.1% |
| ArcelorMittal (ADR) | $74.39 | +0.01% | $56.62B | 31.5 | — | 0.9 | +5.2% |
| Median | 31.5 | — | 0.9 | +5.2% |