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Mar 31, 2022
Tecnoglass Q1 2022 Earnings Report
Reported record results driven by strong growth in single-family residential activity and market share gains.
Key Takeaways
Tecnoglass reported a record first quarter in 2022, with revenues up 20.6% year-over-year to $134.5 million. The growth was driven by strong performance in the single-family residential sector and overall market share gains. Adjusted EBITDA increased 35.1% to $45.4 million, representing 33.7% of total revenues, and the company increased its full year 2022 outlook.
Total revenues increased 20.6% year-over-year to a record $134.5 million.
Single-family residential revenues increased approximately 155% year-over-year, representing 44.4% of total revenues.
Gross margin improved by 420 basis points year-over-year to 44.8%.
Adjusted EBITDA increased 35.1% year-over-year to a record $45.4 million, or 33.7% of total revenues.
Tecnoglass
Tecnoglass
Tecnoglass Revenue by Segment
Tecnoglass Revenue by Geographic Location
Revenue by Segment
Single-Family Residential Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comColombia Revenue
CapyFin.com Forward Guidance
Tecnoglass is increasing its full year 2022 outlook for revenues to grow to a range of $580 million to $605 million and for adjusted EBITDA to increase to a range of $185 million to $195 million.
Positive Outlook
- Strong momentum into the second quarter.
- Growing project pipeline.
- Structural advantages through vertically integrated business model.
- Expectations for robust demand to continue for products and services in the U.S.
- Confidence in ability to report another year of record results and cash flow.