Filing Flows › Tenaris SA (TS) › Q1 2025
Tenaris SA (TS) Q1 2025 earnings results (first quarter 2025)
6-K filed May 1, 2025
Tenaris SA (TS) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), -15% from a year earlier and +3% from the quarter before. Operating margin was 18.8%, net earnings $507M (17.3% of revenue).
Tenaris SA, Q1 2025: revenue $2.9B (-15% year over year), operating margin 18.8%, net earnings $507M, operating cash flow $821M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +3% | -15% |
| Gross profit | $1.0B | +8% | -23% |
| Operating profit | $550M | -2% | -32% |
| Net earnings | $507M | -2% | -31% |
| Operating cash flow | $821M | +67% | -7% |
| Free cash flow | $647M | +109% | -9% |
What changed
Revenue was $2.9B in Q1 2025, down 15% year over year and up 3% from the previous quarter. North America was the largest line at 44% of revenue. North America lost $0.34B year over year (down 21%), 66% of the total change.
Gross margin was 34.3%, down 3.7 points from a year earlier. Operating profit was $0.55B, a 18.8% margin (down 4.8 points year over year). Operating expenses fell 9% while revenue fell 15%. Net earnings were $0.51B, down 31% year over year. The effective tax rate was 13.6%.
Operating cash flow was $0.82B (down 7% year over year), 159% of net income including minority interests. Non-cash charges added back $0.15B of depreciation and amortization. Working capital and other items added $0.16B. Capital expenditures of $0.17B left free cash flow of $0.65B.
Questions
What was Tenaris SA's revenue in the first quarter 2025?
Tenaris SA (TS) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), -15% from a year earlier and +3% from the quarter before.
Was Tenaris SA profitable in the first quarter 2025?
Operating profit was $550M (18.8% of revenue) and net earnings $507M.
Source: Tenaris SA 6-K on SEC EDGAR.