Tenaris S.A. (TS) Q2 FY25 earnings call

Tenaris delivered solid Q2 FY25 results, with sequential sales and EBITDA growth driven by North American OCTG prices and stable volumes, alongside strong free cash flow generation. The company is navigating increased US tariffs and a temporary slowdown in certain project deliveries and fracking operations, which are expected to impact Q3 sales. Management remains confident in its competitive position, particularly in deepwater projects and the US domestic market, while monitoring tariff negotiations and inventory dynamics.