Is Tenaris (BIT:TEN) Navigating Slower 2025 Momentum With Enough Resilience and Flexibility?

• Tenaris S.A. recently reported its third-quarter 2025 results, showing sales of US$2,978.14 million and net income of US$445.69 million, both marginally changed from the same period last year.
• An interesting aspect is that while quarterly financial performance remained steady, year-to-date sales and net income were lower than the prior period, indicating some pressure on overall business momentum for 2025.
• We'll now explore how Tenaris's steady quarterly results, set against a backdrop of softer year-to-date performance, shape its investment outlook.

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Tenaris Investment Narrative Recap

To be a Tenaris shareholder, I believe you have to trust in the continued global demand for oil and gas infrastructure, with the company’s widespread project portfolio acting as a buffer against the volatility facing the sector. The latest quarterly earnings showed little change versus last year, and don’t materially alter the outlook for the biggest risk right now: persistent high inventories in the U.S., which continue to cloud the near-term picture.

Among Tenaris’s recent announcements, the US$1.2 billion share buyback program stands out as particularly relevant. While steady profits support capital returns to shareholders, the muted year-to-date results reinforce that execution on business catalysts, such as U.S. inventory drawdown and margin recovery, is critical for future performance.

However, behind the steady numbers, investors need to be especially aware of the ongoing challenge posed by high U.S. inventory levels, which could…

Read the full narrative on Tenaris (it's free!)

Tenaris is expected to generate $12.2 billion in revenue and $1.8 billion in earnings by 2028. This projection is based on a 1.3% annual revenue growth rate, but earnings are forecast to decrease by $0.2 billion from the current $2.0 billion level.

Uncover how Tenaris' forecasts yield a €17.83 fair value, a 8% upside to its current price.

Exploring Other Perspectives

Four contrasting fair value estimates from the Simply Wall St Community cluster between €17.83 and €23, illustrating how differently investors can assess Tenaris’s outlook. This diversity reflects continuing uncertainty around risks like inventory pressures and their possible effects, consider more than one viewpoint before forming your own.

Explore 4 other fair value estimates on Tenaris - why the stock might be worth just €17.83!

Build Your Own Tenaris Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Tenaris research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Tenaris research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Tenaris' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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