BIT:TENEnergy Services
Tenaris (BIT:TEN) Margin Squeeze Clouds A Steady Revenue Picture
Tenaris stock came into this earnings print under pressure, with the price down roughly 10% over the past three months, yet the latest quarter was all about a squeeze on profitability rather than a collapse in activity. Q2 2026 revenue held near the recent range at about US$2.97b, but basic earnings per share slipped to US$0.47 and net income eased to US$477.1m. For an oilfield supplier that has been valued at about 14x P/E, this margin compression is the headline that sets up the rest of the...