July 30 (Reuters) - Italian steel pipe maker Tenaris
on Wednesday posted a 7% drop in net sales for the
second quarter of 2025, hurt by lower shipments to Brazil and
Europe.
Net sales for the second quarter fell to $3.09 billion from
$3.32 billion a year ago, with sales volumes dipping 5% in the
company's tubes segment due to reduced shipments to the Raia
offshore project in Brazil and lower sales of offshore line pipe
in Europe.
Luxembourg-based Tenaris said that, due to the recent U.S.
tariff hike on steel product imports, the company expects a
decline in U.S. Oil Country Tubular Goods (OCTG) imports from
their elevated first-half levels, with a gradual increase over
time.
In May, U.S. President Donald Trump raised tariffs on
imported steel and aluminum from 25% to 50%, intensifying
pressure on global steel producers and escalating his trade war.
For the second half of the year, the exploration pipeline
maker expects sales to decline compared to the first half,
reflecting lower drilling activity and a lower contribution from
line pipe projects.
The company also expects margins to be affected by the
recent increase in tariff costs, it added.
Earnings before interest, taxes, depreciation, and
amortisation for the second quarter stood at $733 million, up
13% from a year ago, when it had taken a $171 million hit from
provisions related to an ongoing litigation.