Tecnoglass Inc Stock Price, News & Analysis

Tecnoglass (NASDAQ: TGLS) will release its fourth quarter and full year 2021 financial results before the market opens on March 3, 2022. A webcast and conference call will follow at 10:00 a.m. Eastern time, where management will discuss the results. Investors can access the call via the company’s website or by phone. Tecnoglass serves the architectural glass and aluminum product markets, with over 90% of revenues from the U.S., highlighting its significant role in the industry.

Tecnoglass (NASDAQ: TGLS), a prominent manufacturer of architectural glass and aluminum products, will participate in the Sidoti Winter Virtual Investor Conference on January 19, 2022. The company is recognized as the second largest glass fabricator in the U.S. and the leading architectural glass transformation firm in Latin America. Based in Barranquilla, Colombia, Tecnoglass operates a large manufacturing facility that services over 1,000 global customers, with more than 90% of its revenues coming from the U.S. For more details, visit tecnoglass.com.

Tecnoglass (NASDAQ: TGLS) announced the formation of a Special Committee of independent directors to investigate issues raised in a recent short seller report from December 9, 2021. The committee, supported by Covington & Burling LLP and a major accounting firm, aims to address the allegations while asserting the company’s commitment to ethical practices. Tecnoglass also reaffirmed its optimistic outlook for full-year 2021, projecting revenues between $490 million to $495 million and adjusted EBITDA of $147 million to $150 million, bolstered by strong cash flow of approximately $100 million year-to-date through November 2021.

Tecnoglass (TGLS) reported a strong financial outlook for 2021, achieving revenues of approximately $456 million and an Adjusted EBITDA of around $140 million through November. The company has increased its full-year projections, expecting revenues between $490 million and $495 million, and EBITDA between $147 million and $150 million. Tecnoglass dismissed a recent short seller report as inaccurate and noted ongoing support from stakeholders, reinforcing its commitment to a growth strategy and a quarterly cash dividend increase of 136%.

Tecnoglass (NASDAQ: TGLS) announced a 136% increase in its quarterly cash dividend, raising it to $0.065 per share, effective January 31, 2022. This adjustment reflects a shift from the previous rate of $0.0275 per share, amounting to an annualized $0.26 compared to $0.11 prior. The company's CFO highlighted strong free cash flow generation, a completed growth capital expenditure phase, and a robust order backlog, all contributing to this decision.

Tecnoglass (TGLS) has amended its senior secured revolving credit facility, increasing borrowing capacity from $50 million to $150 million and reducing interest costs from 3.25% to 1.90%. This refinancing is expected to save approximately $3 million annually in interest expenses, contributing to total savings of around $15 million since 2020. The company maintains its outstanding debt levels and its net debt to adjusted EBITDA ratio at an all-time low. The facility amendment extends the maturity date to the end of 2026, emphasizing the company’s strong liquidity and financial flexibility.

Tecnoglass (NASDAQ: TGLS) reported robust third-quarter results for 2021, with total revenues climbing 26% year-over-year to a record $130.4 million. Key highlights include a 213% revenue increase in single-family residential activities, contributing to 48% of U.S. revenues. Net income reached $20.9 million, or $0.44 per diluted share, while adjusted EBITDA surged 36.1% to $38.7 million. The company also reported record cash flow from operations at $32.6 million and expanded its backlog to $576 million. Tecnoglass raised its full-year revenue and adjusted EBITDA outlook, projecting revenues between $485 million and $495 million.

Tecnoglass (NASDAQ: TGLS) announced its participation in the Baird 51st Annual Global Industrial Conference, scheduled for November 11, 2021. A leading manufacturer of architectural glass, windows, and aluminum products, Tecnoglass serves both residential and commercial markets globally. The company, based in Barranquilla, Colombia, is the second-largest glass fabricator in the U.S. and the top architectural glass transformation company in Latin America. Over 90% of its revenue comes from the U.S., with products featured in notable buildings across major cities.

Tecnoglass, a major manufacturer of architectural glass and aluminum products, will announce its third quarter 2021 financial results on November 8, 2021, before the market opens. A conference call will be held the same day at 10:00 a.m. ET to discuss the results. Tecnoglass serves over 1,000 global customers, with more than 90% of its revenues coming from the U.S. The company is based in Barranquilla, Colombia, and is a leading glass fabricator in Latin America.