One of the world's largest makers of steel pipes for the energy industry, Tenaris supplies the seamless tubes used to drill and produce oil and gas, along with related services. The brand was born in 2001 when the Techint group folded older pipe makers—Italy's Dalmine, Argentina's Siderca, and Mexico's Tamsa—under a single global name. Its moniker is a made-up word evoking the Latin tenere ("to hold"), chosen to suggest steadiness and global reach.
ADRUnderlying: TSCUSIP: 88031M109EnergyLU1 holder
Sponsored American Depositary Receipt (ADR) representing underlying common shares of Tenaris S.A.
Tenaris reports 2Q 2026 net sales of $2,967 million, down 4% sequentially and year-over-year.
Net sales for 2Q 2026 were $2,967 million, a 4% decrease from both 1Q 2026 and 2Q 2025, partly due to shipment postponements in the Middle East from the Strait of Hormuz closure.
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Operating income was $494 million in 2Q 2026, down 15% sequentially and year-over-year; EBITDA was $649 million with a 21.9% margin.
Free cash flow was $396 million in 2Q 2026; net cash position was $3.6 billion at June 30, 2026 after a $606 million dividend payment.
The board approved an interim dividend of $0.59 per share ($1.18 per ADS), payable November 25, 2026, with a record date of November 24, 2026.
Board changes: Jaime Serra Puche resigned; Germán Curá resigned as Vice Chair but remains a director; Alicia Móndolo and Maria Novales-Flamarique were appointed to the board and audit committee, respectively.
Tenaris files half-year report for six months ended June 30, 2026
The report includes interim management report and unaudited consolidated condensed interim financial statements prepared under IFRS.
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Tenaris S.A. furnished its half-year report 2026 to the SEC on Form 6-K, dated August 5, 2026.
The financial statements have been reviewed by Forvis Mazars, the statutory auditor.
The report highlights risks from the Middle East conflict, including the March 2026 Hormuz Strait closure, which caused energy price volatility and supply disruptions.
Tenaris operates globally with around 26,000 employees, serving the energy industry and other industrial applications.
Tenaris shareholders approve US$0.89 per share annual dividend and re-elect ten directors at AGM
At the May 12, 2026 Annual General Meeting, Tenaris shareholders approved a final dividend of US$0.60 per share (US$1.20 per ADS), payable May 20, 2026, completing a total annual dividend of US$0.89 per share (US$1.78 per ADS) including the interim dividend paid in November 2025.
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The board was reduced to ten members and all ten incumbent directors were re-appointed, including Paolo Rocca and Gianfelice Mario Rocca.
Director compensation for 2026 was set at US$115,000 per member, with additional fees of US$55,000 for Audit Committee members and US$20,000 for the Audit Committee chair.
Forvis Mazars was appointed as statutory auditor for fiscal year 2026, with fees capped per currency (e.g., EUR 1,081,106, USD 345,865).
Shareholders renewed authorization for the company and subsidiaries to buy back its shares, and approved electronic distribution of shareholder communications.
Tenaris shareholders approve cancellation of 62.4 million treasury shares and share capital reduction to US$1.01 billion.
At an Extraordinary General Meeting on May 12, 2026, Tenaris S.A. shareholders approved the cancellation of 62,355,174 treasury shares bought under the third buyback program (June 9, 2025 – March 3, 2026).
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The cancellation reduces issued share capital by US$62,355,174, from US$1,071,994,930 to US$1,009,639,756, with 1,009,639,756 ordinary shares of US$1.00 par value each.
Shareholders also approved amending Article 5 'Share Capital' of the articles of association to reflect the new share capital and authorized capital of US$2.5 billion.
The amended article retains the board's authority to issue shares within authorized capital, subject to pre-emptive rights except for non-cash contributions and up to 1.5% of issued capital for compensation to beneficiaries.
The meeting was held immediately after the adjournment of the Annual General Meeting, and the report was signed by Investor Relations Officer Giovanni Sardagna.
Tenaris holds Q1 2026 results conference call with new CEO Gabriel Podskubka
On May 7, 2026, Tenaris S.A. held an audio conference with investors and analysts to discuss first quarter 2026 results, market background, and outlook.
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Gabriel Podskubka, newly appointed Chief Executive Officer, and other senior management participated in the call.
The conference call is accessible on Tenaris's Investor Relations website.
The call included forward-looking statements regarding strategy, investment plans, and industry trends, subject to risks and uncertainties.
Tenaris is a leading global supplier of steel tubes and related services for the energy industry.