diff --git a/scripts/pipeline.py b/scripts/pipeline.py
index 535b4f0b..dfa018ca 100644
--- a/scripts/pipeline.py
+++ b/scripts/pipeline.py
@@ -27,6 +27,7 @@ from __future__ import annotations
 
 import argparse
 import contextlib
+import os
 import re
 import subprocess
 import sys
@@ -44,21 +45,29 @@ from common import ArtifactLockBusy, artifact_lock, hold_artifact_lock
 
 
 def run(cmd: list[str], label: str) -> tuple[bool, str]:
-    """Run a command. Returns (success, captured_output)."""
+    """Run a command, echoing its output as it comes. Returns (success, output).
+
+    The output used to be captured and printed when the step ended, stderr
+    after stdout: a twenty-minute pack build showed nothing, and a warning
+    landed far from the line it was about. One stream, read line by line.
+    """
     print(f"\n--- {label} ---", flush=True)
     start = time.monotonic()
     repo_root = str(Path(__file__).resolve().parent.parent)
-    result = subprocess.run(cmd, capture_output=True, text=True, cwd=repo_root)
+    lines: list[str] = []
+    with subprocess.Popen(
+        cmd, stdout=subprocess.PIPE, stderr=subprocess.STDOUT, text=True,
+        cwd=repo_root, env={**os.environ, "PYTHONUNBUFFERED": "1"},
+    ) as proc:
+        for line in proc.stdout:
+            lines.append(line)
+            print(line, end="", flush=True)
+        returncode = proc.wait()
     elapsed = time.monotonic() - start
 
-    output = result.stdout
-    if result.stderr:
-        output += result.stderr
-
-    ok = result.returncode == 0
-    print(output, end="")
+    ok = returncode == 0
     print(f"--- {label}: {'OK' if ok else 'FAILED'} ({elapsed:.1f}s) ---")
-    return ok, output
+    return ok, "".join(lines)
 
 
 def parse_verify_counts(output: str) -> dict[str, tuple[int, int]]:
diff --git a/tests/test_audit_regressions.py b/tests/test_audit_regressions.py
index f3654ded..ba2caa5b 100644
--- a/tests/test_audit_regressions.py
+++ b/tests/test_audit_regressions.py
@@ -2793,5 +2793,23 @@ class APlatformPinDoesNotReplaceTheCoresRevision(unittest.TestCase):
                 self.assertEqual(status, "sha1_exact")
                 self.assertEqual(db["files"][entry["sha1"]]["path"], path)
 
+
+class PipelineStepsSpeakAsTheyGo(unittest.TestCase):
+    """run() captured a step and printed it at the end, stderr after stdout:
+    a twenty-minute pack build was silent and a warning lost its place."""
+
+    def test_output_keeps_its_order_and_is_returned(self):
+        script = ("import sys; print('one', flush=True); "
+                  "print('two', file=sys.stderr, flush=True); print('three')")
+        echoed = io.StringIO()
+        with contextlib.redirect_stdout(echoed):
+            ok, output = pipeline.run([sys.executable, "-c", script], "probe")
+        self.assertTrue(ok)
+        self.assertEqual(output, "one\ntwo\nthree\n")
+        text = echoed.getvalue()
+        self.assertLess(text.index("one"), text.index("two"))
+        self.assertLess(text.index("two"), text.index("three"))
+        self.assertLess(text.index("three"), text.index("--- probe: OK"))
+
 if __name__ == "__main__":
     unittest.main()