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Adapting to a volatile Middle East situation and fewer volumes of tubes available internationally, Vallourec said it produced good second- quarter results.
Net income was $4 million higher versus $51 million reported during the same period of 2025. Operating income was $103 million for the quarter, compared with $114 million last year.
"Vallourec demonstrated the strength and resilience of its business model once again in the second quarter," said Philippe Guillemot, chairman of the board of directors and chief executive officer of the multinational company based in France.
"Despite lower volumes sequentially in our international business, tubes profitability remained close to the robust level achieved in the first quarter, well above $700 (per ton). Our cash conversion continued to improve year on year, with more than 60% of EBITDA converted into cash during the quarter."
Guillemot acknowledged the uncertainty created by the U.S.-Iran war.
"Our business has adapted quickly," he said. "Our primary customers in the region are leveraging local supply chains, including Vallourec, to accelerate their activity. At the same time, select customers more directly affected by disruptions linked to the closure of the Strait of Hormuz continue to defer deliveries as they await greater operational visibility."
For more information, visit https://www.vallourec.com/.