Tecnoglass Inc Stock Price, News & Analysis

Tecnoglass (NASDAQ: TGLS) has declared a quarterly cash dividend of $0.0275 per share, amounting to $0.11 on an annualized basis, for the first quarter of 2021. This dividend will be distributed on April 30, 2021, to shareholders on record by March 31, 2021. The company, based in Barranquilla, Colombia, specializes in architectural glass and aluminum products, with over 90% of its revenues generated from the U.S., serving both residential and commercial markets.

Tecnoglass reported a 51% growth in single-family residential revenues in Q4 2020, contributing to a net income of $24.2 million for the full year. Adjusted net income reached $36.8 million, or $0.79 per diluted share. The company's gross margin improved to a record 37.1% for the year, while total revenues for 2020 were $374.9 million, down from $430.9 million in 2019. Notably, a new $300 million credit facility was established, enhancing financial flexibility. The outlook for 2021 suggests revenue growth to $400-$415 million and adjusted EBITDA of $100-$110 million.

Tecnoglass, a prominent manufacturer of architectural glass and windows, announced its participation in the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021. The company, based in Barranquilla, Colombia, holds the position of the second-largest glass fabricator in the U.S. and leads in architectural glass transformation in Latin America. Over 90% of its revenue comes from the U.S., with its products featured in notable properties such as United Nations Plaza and Salesforce Tower. For more details, visit tecnoglass.com.

Tecnoglass, a leading manufacturer of architectural glass and aluminum products, will announce its Q4 and full-year 2020 financial results on March 2, 2021, before the market opens. The management will host a webcast and conference call at 10:00 a.m. ET to discuss the results. This call will be accessible live via the company's website or by phone. Tecnoglass holds a significant position in the U.S. market, generating over 90% of its revenues from this region and is recognized as the top architectural glass transformation company in Latin America.

Tecnoglass (NASDAQ: TGLS) announced a quarterly cash dividend of $0.0275 per share, amounting to $0.11 annually for Q4 2020. This dividend will be distributed on January 29, 2021, to shareholders on record as of December 31, 2020. As a major player in the architectural glass industry, Tecnoglass continues to serve over 1,000 customers, with more than 90% of its revenue coming from the U.S. market.

Tecnoglass (NASDAQ: TGLS) announced the completion of its delisting from the Colombia Stock Exchange, ceasing trading of its shares under the ticker TGLSC. The company, which derives over 90% of its revenue from the U.S., aims to streamline its operations by consolidating its trading on NASDAQ, where over 99% of shares have traded in the past two years. This transition is expected to reduce administrative expenses and simplify the capital structure, aligning better with U.S.-based shareholders' interests.

Tecnoglass (NASDAQ: TGLS), a prominent manufacturer of architectural glass and aluminum products for commercial and residential construction, will participate in the Baird 50th Annual Global Industrial Conference on November 11, 2020. Based in Barranquilla, Colombia, Tecnoglass is the top architectural glass transformation company in Latin America and the second largest in the U.S. Over 80% of its revenues come from the U.S., serving over 1000 customers across the Americas. Noteworthy projects include El Dorado Airport and Salesforce Tower.

Tecnoglass reported a net income of $8.3 million for Q3 2020, with adjusted net income at $12.7 million or $0.28 per diluted share. Total revenues reached $103.3 million, growing 3.1% in U.S. markets. The company achieved an Adjusted EBITDA of $28.5 million, improved gross margin to 38.8%, and generated $51 million in cash flow year-to-date. Tecnoglass announced a new $300 million credit facility to lower interest rates. The full-year EBITDA outlook is $95 million to $100 million.

Tecnoglass has announced a new $300 million Senior Secured Credit Facility to replace existing borrowings, reducing its interest expenses by an estimated $11 million annually. The facility includes a $250 million term loan and a $50 million revolving credit line, maturing in 2025, with an initial interest rate of 3.00% expected to decrease to 2.75% in 2021. The funds will also support working capital needs. Additionally, Tecnoglass completed a $10.9 million land purchase for its joint venture with Saint-Gobain for a new manufacturing facility.