Tenaris S.A. (TS) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the fourth quarter Tenatis Essay Earnings Conference 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 the session you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question please press star one one again. please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Giovanni Sardagna, Investor Relations Officer. Please go ahead. Thank you, Gigi, and welcome to Tenaris 2025 Fourth Quarter and Annual Results Conference Call. Before we start, I would like to remind you that We will be discussing forward-looking information during the call, and that our actual results may vary from those expressed or implied during the call. With me on the call today are Paolo Rocca, our chairman and CEO, Carlos Gomez-Alzaga, our chief financial officer, Gabriele Pozzusca, our chief operating officer, and Guillermo Moreno, 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. During the fourth quarter of 2025, sales reached $3 billion, up 5% compared with those of the corresponding quarter of the previous year, and 1% sequentially, as our sales to rig direct customers in the United States and Canada continue to show resilience, and in Argentina, we resume our fracking and coil tubing services. Our ABDA for the quarter was down 5% sequentially to $717 million, or 24% of sales. These results include the full impact of the 50% Section 232 tariffs in the U.S. Average sellin...