Tenaris Sees Q4 Revenue Rising Nearly 10%, EBITDA Margin Near 25%

Tenaris S.A. expects fourth-quarter revenue to rise close to 10%, mainly on higher volumes, and projects an EBITDA margin of about 25% as the added volume improves absorption.

Tenaris management said its outlook does not assume a full recovery in the Middle East. Qatar LNG-related demand has yet to recover, while raw material, energy, logistics and tariff costs remain concerns.

In the United States, management said low inventories and new anti-dumping margins have supported demand and prices. It expects U.S. demand to increase, but pricing remains uncertain.

Third-quarter sales were $3.1 billion, up 4% from a year earlier and 5% sequentially. EBITDA was $756 million, a 16% increase from the prior quarter, and the EBITDA margin was 24%.