Tenaris (TS) Q3 FY25 earnings call

Tenaris demonstrated resilience in Q3 FY25 with solid sales and EBITDA, driven by strong US and Canadian operations and a growing offshore backlog. While facing sequential sales declines and tariff-related cost pressures, the company is poised for future growth, particularly from an improving outlook in Argentina's Vaca Muerta and increasing offshore project FIDs. Management is focused on local production and strategic market positioning to navigate a volatile environment.