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Jun 30, 2024
Tecnoglass Q2 2024 Earnings Report
Reported a revenue of $219.7 million, with a net income of $35.0 million and an adjusted EBITDA of $64.1 million. The company's backlog reached a record $1.02 billion, and single-family residential revenue also hit a record.
Key Takeaways
Tecnoglass reported a decrease in revenue to $219.7 million compared to the prior year, but achieved record single-family residential revenues. Net income was $35.0 million, and adjusted EBITDA was $64.1 million. The company's backlog grew to a record $1.02 billion.
Revenue reached $219.7 million, the second-highest in the company's history.
Single-family residential revenue increased 10.1% year-over-year to a record $95.7 million.
Net income was $35.0 million, or $0.75 per diluted share.
Backlog grew 29% year-over-year to a record $1.02 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tecnoglass expects full year 2024 revenues to grow to a range of $860 million to $910 million and Adjusted EBITDA to be in the range of $260 million to $285 million.
Positive Outlook
- Surge in single-family residential orders
- Expected increase in vinyl sales
- Increased mix of revenues from installation and stand-alone product sales
- Stable FX rates
- Timely execution of our multi-family/commercial backlog through year end
Historical Earnings Impact
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Avg. Return Before/After Earnings
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