Tecnoglass Inc Stock Price, News & Analysis

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.

Tecnoglass (NASDAQ: TGLS), a leading manufacturer of architectural glass and aluminum products, will participate in two virtual investor conferences: the D.A. Davidson 20th Annual Diversified Industrials & Services Virtual Conference on September 22, 2021, and the Sidoti Fall Virtual Investor Conference on September 23, 2021. Tecnoglass will present on September 23 at 10:00 a.m. ET, with a live broadcast available on their website. The company, based in Barranquilla, Colombia, serves over 1,000 global customers, primarily in the U.S.

Tecnoglass (NASDAQ: TGLS) has declared a quarterly cash dividend of $0.0275 per share, equating to $0.11 annually, for Q3 2021. The payment is scheduled for October 29, 2021, to shareholders recorded by September 30, 2021. Tecnoglass is a leading manufacturer of architectural glass and aluminum products, serving primarily the U.S. market, which composes over 90% of its revenue. The company's manufacturing complex in Barranquilla, Colombia, spans 2.7 million square feet, catering to over 1,000 customers globally.

Tecnoglass (NASDAQ: TGLS) announced its participation in the Raymond James 2021 Diversified Industrials Conference, set for August 24, 2021. The company, based in Barranquilla, Colombia, is a major manufacturer of architectural glass and windows, serving both residential and commercial markets. As the #1 architectural glass transformation company in Latin America and the second largest glass fabricator in the U.S., Tecnoglass caters to over 1,000 global customers, with over 90% of revenues coming from the U.S. The firm is known for its high-end products featured in several iconic buildings.