Tenaris S.A. (TS) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Tenaris First Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to Giovanni Sardagna, Investor Relations Officer. Please go ahead. Thank you, Liz, and welcome to Tenaris 2025 first quarter conference call. Before we start, I would like to remind you that we will be discussing information in the call and that the actual results may vary from those expressed or implied during this call. With me on the call today are Paolo Rocca, our chairman and CEO, Alicia Mondolo, our chief financial officer, Gabriel Podkuska, our chief operating officer, and Guillermo Moreno, newly appointed president of our U.S. operations. Before passing over the call to Paolo for his opening remarks, I would like to briefly comment our quarterly results. Our first quarter sales reached $2.9 billion, down 15% year-on-year, but up 3% sequentially due to higher seasonal volumes in Canada and higher onshore sales in the U.S., while our average selling price declined due to market and product mix effects with lower sales of OCTG premium products in Mexico, Turkey, and Saudi Arabia, in addition to lower sales of seamless line pipe for offshore projects. Our selling price in our tubes operating segment decreased 11% compared to the corresponding quarter of 2024 and 5% sequentially. On a comparable basis, our EBDA rose 6% ...