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Sep 30, 2021
Tecnoglass Q3 2021 Earnings Report
Tecnoglass reported record results driven by strong growth in the U.S. single-family residential business and increased operating efficiencies.
Key Takeaways
Tecnoglass reported a record third quarter with revenues up 26% year-over-year to $130.4 million. The company's gross margin increased to 39.6%, and adjusted EBITDA rose by 36.1% to $38.7 million. Strong cash flow allowed for debt reduction and investments in automation.
Total revenues increased by 26% year-over-year to a record $130.4 million.
Gross margin reached a record 39.6%, up 80 basis points year-over-year.
Adjusted EBITDA increased by 36.1% year-over-year to a record $38.7 million, representing 29.7% of total revenues.
Backlog expanded to a record $576 million, up 7.4% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tecnoglass increased its full year 2021 growth outlook for revenues and adjusted EBITDA. The company expects 2021 revenues to grow to a range of $485 million to $495 million and anticipates full year adjusted EBITDA to increase to a range of $140 million to $145 million.
Positive Outlook
- Robust demand for products and services in the U.S.
- Favorable growth environment across end markets through year-end.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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