Loading...
•
Jun 30, 2022
Tecnoglass Q2 2022 Earnings Report
Tecnoglass reported record total revenues driven by strong demand for single-family residential products and growth in commercial business.
Key Takeaways
Tecnoglass reported record second-quarter results with a 38.9% increase in total revenues to $169.1 million. The company's single-family residential revenues increased by 86% year-over-year, representing 44.9% of total revenues. Gross margin improved to 43.5%, and adjusted EBITDA increased by 51.7% to $54.6 million, representing 32.3% of total revenues. The company increased its full-year 2022 outlook, expecting revenues of $620 million to $640 million and adjusted EBITDA of $208 million to $220 million.
Total revenues increased by 38.9% year-over-year to $169.1 million.
Single-family residential revenues grew by 86% year-over-year, representing 44.9% of total revenues.
Gross margin improved by 310 basis points year-over-year to 43.5%.
Adjusted EBITDA increased by 51.7% year-over-year to $54.6 million, representing 32.3% 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 2022 outlook for revenues to grow to a range of $620 million to $640 million and for adjusted EBITDA to increase to a range of $208 million to $220 million.
Positive Outlook
- Revenues are expected to grow to a range of $620 million to $640 million.
- Adjusted EBITDA is expected to increase to a range of $208 million to $220 million.
- Single-family residential projects represent a growing share of revenues.
- The commercial business continues to grow sequentially each month through this year.
- Momentum in the business continued into the third quarter.