Tecnoglass Q2 2020 Earnings Report
Key Takeaways
Tecnoglass reported a net income of $16.1 million, or $0.35 per diluted share, for the second quarter of 2020. The company achieved record gross margin of 38.8% and adjusted EBITDA margin of 28.4%. Revenue was $81.9 million, with U.S. revenues representing 96.6% of the total. The company's backlog expanded to a record $550 million.
Record gross margin of 38.8% achieved through lower raw material costs and greater operating efficiencies.
Adjusted EBITDA reached $23.3 million with a record margin of 28.4%.
Net income was $16.1 million, or $0.35 per diluted share.
Backlog expanded to a record $550 million, up 4.8% year-over-year.
Tecnoglass
Tecnoglass
Tecnoglass Revenue by Geographic Location
Forward Guidance
Tecnoglass anticipates a positive sequential monthly revenue trend in the third quarter, based on the current invoicing schedule and market environment. The company will focus on safely serving customers, managing costs, and delivering strong cash flow.
Positive Outlook
- Improving sequential monthly revenue trends experienced during the second quarter continued into July.
- Expect revenue in the third quarter to continue on a positive sequential monthly trend.
- Focus on safely serving customers.
- Aggressively managing costs.
- Delivering strong cash flow.
Challenges Ahead
- Uncertainty persists associated with COVID-19 developments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income