Tenaris' net quarterly sales decline 7% due to Brazil and Europe weakness

Tenaris, an Italian steel pipe manufacturer, reported a 7% decline in net sales during the second quarter 2025. This was due to lower shipments into Brazil and Europe.

The company's net sales fell from $3.32 billion to $3.09billion in the second quarter of last year. Sales volumes in the tubes segment dropped 5% due to lower shipments for the Raia offshore project, in Brazil, and lower sales in Europe of offshore line pipes.

Tenaris, based in Luxembourg, said it expects a drop in U.S. Oil Country Tubular Goods imports following the recent U.S. steel tariff increase. The company also anticipates a gradual rise over time.

In May, U.S. president Donald Trump increased tariffs on imported aluminum and steel from 25% to 50%. This heightened pressure on global producers of steel and escalated his trade war.

The exploration pipeline manufacturer expects that sales will decline in the second half compared to the previous half. This is due to lower drilling activities and lower contributions from line pipe projects.

It added that the company expects recent increases in tariff costs to also affect margins.

Earnings for the second quarter were $733 million. This is up 13% compared to a year earlier, when they had suffered a $171-million hit due to provisions relating to a litigation. (Reporting and editing by Enrico Sciacovelli, Preetika Parshuraman)

(source: Reuters)