Vallourec’s North American operations highlight the multinational company’s spreadsheet, the French-based specialty steel business said last week as part of its third quarter earnings report.

Its third-quarter revenue from tube sales totalled $389.5 million. The figure represented a 6% drop from the previous quarter but a 2% jump compared to third quarter 2024. Worldwide sales, including North America, for the quarter were $985.8 million, which represents a 1% increase in a year-to-year comparison.

“Our advantaged manufacturing footprint and reputation for high-quality tubular solutions is paying dividends in the United States,” said Philippe Guillemot, Vallourec’s chairman of the board of directors and CEO. “Our order intake in this market in recent months has been robust and reflects stable customer drilling activity and an improvement in our market share.

“We continue to expect a slowdown in imports, which currently represent about 40% of supply in the U.S. (oil and gas) market, as the market responds to higher steel tariffs.”

Earlier this month, Guillemot and Vallourec officials visited the company’s Youngstown facility to announce its $48 million investment in the Mahoning Valley.

For the year, North American sales brought in $1.25 billion with all divisions accounting for $2.9 billion.

Guillemot also told shareholders that Vallourec obtained a major contract in Brazil “carries potential revenue of up to $1 billion over four years.”

Before taking in interest, taxes, depreciation and amortization, Vallourec brought in $243.4 million.

“Vallourec delivered solid results once again in the third quarter, with Group EBITDA margin rising to its highest level since the first quarter of 2024,” Guillemot said. “This quarter marks three straight years in which Vallourec has delivered a Group EBITDA margin around 20% and positive total cash generation — a clear testament to the major structural changes we have made within our business since May 2022.”