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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.
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 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.