Filing Flows › Tenaris SA (TS) › Q3 2026 › vs Q2 2026
Tenaris SA (TS) Q3 2026 vs Q2 2026 (quarter over quarter)
Tenaris SA's revenue rose $136M (+5%) from $3.0B in Q2 2026 to $3.1B in Q3 2026. Gross margin 34.5% against 33.2% (+1.3 pts).
Tenaris SA, Q3 2026: revenue $3.1B (+4% year over year), operating margin 19.3%, net earnings $509M, operating cash flow $366M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 34.5% | 33.2% | +1.3 pts |
| Operating margin | 19.3% | 16.7% | +2.6 pts |
| Net margin | 16.4% | 16.1% | +0.3 pts |
| Free cash flow margin | 8.6% | 13.4% | -4.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.1B | $3.0B | $136M | +5% |
| Gross profit | $1.1B | $985M | $84.2M | +9% |
| Cost of revenue | $2.0B | $2.0B | $51.6M | +3% |
| Other income, net | $59.6M | $80.1M | −$20.5M | -26% |
| Operating profit | $598M | $494M | $104M | +21% |
| Operating expenses | $471M | $491M | −$19.3M | -4% |
| Pre-tax earnings | $657M | $574M | $83.0M | +14% |
| Net earnings | $509M | $477M | $32.0M | +7% |
| Minority interests | $12.2M | $15.0M | −$2.8M | -19% |
| Income tax | $136M | $81.9M | $53.9M | +66% |
| Depreciation & amortization | $159M | $155M | $3.2M | +2% |
| Working capital & other | $302M | $115M | $187M | +162% |
| Operating cash flow | $366M | $518M | −$151M | -29% |
| Free cash flow (OCF − capex) | $268M | $396M | −$128M | -32% |
| Capital expenditures | $98.4M | $121M | −$23.0M | -19% |
Questions
How much did Tenaris SA's revenue grow quarter over quarter in Q3 2026?
Tenaris SA's revenue rose $136M (+5%) from $3.0B in Q2 2026 to $3.1B in Q3 2026. Gross margin 34.5% against 33.2% (+1.3 pts).