Italy's Tenaris beats estimates for fourth-quarter sales on North America demand

Feb 18 (Reuters) - Italian steel pipe maker Tenaris TENR.MI reported a 5% rise in net sales for the fourth quarter late on Wednesday, beating analysts' estimates, helped by strong demand for its tubes in North America.

Net sales increased to $3 billion in the quarter ended December 31 from $2.84 billion a year ago, as a 29% jump in North America tube sales helped cushion declining revenue in South America and Europe.

Analysts had expected the Luxembourg-headquartered company to report sales of $2.96 billion, according to LSEG data.

The company, which provides essential infrastructure for the energy industry, also forecast sales and margins in the first quarter of 2026 to remain close to current levels.

The results come as the global steel industry navigates a volatile trade environment. U.S. President Donald Trump plans to scale back some tariffs on steel and aluminum goods, the Financial Times reported on Friday, citing people familiar with the matter.

Tenaris said it expects drilling activity in the U.S. and Canada to stabilize near current levels following a modest decline in the second half of 2025, while activity elsewhere was seen unchanged in the near term.

Earnings before interest, taxes, depreciation and amortization in the fourth quarter dipped 1% to $717 million.

The company also proposed a total annual dividend of $0.89 per share.