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Jun 30, 2021
Tecnoglass Q2 2021 Earnings Report
Reported record results driven by strong performance and strategic expansion in single-family residential sales.
Key Takeaways
Tecnoglass reported a record second quarter with a 49% increase in total revenues to $121.7 million. The company saw significant growth in single-family residential sales and commercial revenues, leading to a gross margin of 40.0% and adjusted EBITDA of $35.6 million. The company also increased its full year 2021 growth outlook.
Total revenues increased by 49% year-over-year to a record $121.7 million.
Single-family residential revenues increased 159% year-over-year, representing 37% of U.S. revenues.
Gross margin reached a record 40.0%, up 120 basis points year-over-year.
Adjusted EBITDA increased 52.7% year-over-year to a record $35.6 million, or 29.3% 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 2021 outlook for total revenues and adjusted EBITDA growth.
Positive Outlook
- Full year 2021 total revenues are expected to grow to a range of $450 million to $465 million.
- Full year adjusted EBITDA is anticipated to increase to a range of $125 million to $135 million.
- Continued outperformance in the first half of 2021.
- Strong demand into July and August.
- Further share gains.