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Sep 30, 2022
Tecnoglass Q3 2022 Earnings Report
Reported record results driven by organic growth and margin expansion.
Key Takeaways
Tecnoglass reported record third-quarter results with a 53% increase in total revenues to $201.8 million, driven by growth in both single-family residential and commercial businesses. The company achieved a record gross margin of 52.2% and net income of $46.9 million, or $0.98 per diluted share. Adjusted EBITDA more than doubled to $78.5 million, representing 38.9% of total revenues. The company also announced a $50 million share repurchase program.
Total revenues increased by 53% year-over-year to $201.8 million, driven by organic growth.
Gross margin reached a record 52.2%, up 1300 basis points year-over-year.
Net income was $46.9 million, or $0.98 per diluted share.
Adjusted EBITDA more than doubled year-over-year to $78.5 million, or 38.9% of total revenues.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tecnoglass is increasing its full year 2022 growth outlook for revenues and adjusted EBITDA. The company now expects 2022 revenues to grow to a range of $680 million to $700 million and for adjusted EBITDA to increase to a range of $240 million to $255 million.
Positive Outlook
- Expected revenue growth to a range of $680 million to $700 million.
- Anticipated adjusted EBITDA to increase to a range of $240 million to $255 million.
- Strategic execution and leveraging vertically integrated business model.
- Positions the company to drive another year of record results.
- Positions the company to drive record cash flow in the full year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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