Loading...
•
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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...