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Dec 31, 2021
Tecnoglass Q4 2021 Earnings Report
Reported record results driven by strong growth in single-family residential activity and market share gains.
Key Takeaways
Tecnoglass reported record fourth quarter results, driven by strong growth in single-family residential activity and market share gains. Total revenues increased by 28.0% to $131.8 million, with single-family residential revenues increasing by approximately 142% year-over-year. Gross profit grew by 53.6% to $56.5 million, representing a 42.9% gross margin. Net income was $19.8 million, or $0.41 per diluted share, and adjusted EBITDA increased by 65.7% to $42.2 million.
Total revenues increased 28.0% to $131.8 million compared to the prior year quarter.
Single-family residential revenues increased approximately 142% year-over-year, representing 40.5% of total revenues.
Gross profit grew 53.6% to $56.5 million, representing a 42.9% gross margin, compared to 35.8% in the prior year quarter.
Adjusted EBITDA increased 65.7% to $42.2 million, or 32.0% of total revenues, compared to the prior year quarter.
Revenue by Segment
Forward Guidance
Tecnoglass introduced its full year 2022 outlook for revenues to grow to a range of $575 million to $600 million and for adjusted EBITDA to increase to a range of $170 million to $190 million.
Positive Outlook
- Revenues to grow to a range of $575 million to $600 million.
- Adjusted EBITDA to increase to a range of $170 million to $190 million.
- Implies adjusted EBITDA growth of approximately 20% at the midpoint.
- Structural advantages will continue to drive strong cash flow generation.
- Faster lead times will continue to drive strong cash flow generation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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