Tecnoglass Inc Stock Price, News & Analysis

Tecnoglass, a leading manufacturer in architectural glass and windows, has announced a strategic partnership with Wells Fargo to introduce a new financing program for ES Windows. This initiative aims to provide competitive financing options directly to dealers and end consumers across the U.S. By offering affordable financing solutions, Tecnoglass anticipates driving incremental sales and expanding its reach within the single-family residential market.

CEO José Daes emphasized the program's potential to lower financing costs for window renovations, enhancing competitive advantage. CFO Santiago Giraldo noted that this partnership aligns with the company’s strategy to improve customer experiences and grow its product offerings in new markets. Tecnoglass operates a state-of-the-art manufacturing complex in Barranquilla, Colombia, serving over 1,000 global customers, with the U.S. generating over 90% of its revenue.

Tecnoglass, recognized as a leading manufacturer of architectural glass, has announced it will release its Q1 2023 financial results on May 4, 2023, before the market opens. Management plans to host a webcast and conference call at 10:00 a.m. Eastern time to discuss these results. Interested parties can access the call through Tecnoglass' investor section of their website or by dialing in directly. The call will also have a slide presentation for better clarity. For those who miss the live session, a telephonic replay will be available until August 4, 2023. Tecnoglass is noted for its significant presence in both the U.S. and Latin American markets, emphasizing its vertically-integrated manufacturing processes and high-end architectural projects.

Barranquilla, Colombia, March 22, 2023 – Tecnoglass (NYSE: TGLS) has announced the launch of its new product, StormArmour, developed in partnership with Storm Shield Windows & Doors. Designed to prevent water intrusion from sliding doors during severe weather, StormArmour is expected to reduce water entry by 99% and can be installed quickly without tools. Priced between $200 and $500, it will be available by year-end 2023, with Tecnoglass holding exclusive distribution rights in the U.S. and parts of Latin America. This innovation aims to address the $20 billion annual home water damage claims in the U.S., emphasizing Tecnoglass's commitment to R&D and customer safety.

Tecnoglass (NYSE: TGLS) announced its participation in the Sidoti Virtual Small-Cap Conference on March 22, 2023, at 10:00 a.m. ET. This event will highlight the company’s position as a leading manufacturer of architectural glass and aluminum products for residential and commercial markets.

The presentation will be accessible via the Investor Relations section of Tecnoglass' website, where live streaming and materials will be available. Tecnoglass operates a large manufacturing complex in Colombia, serving over 1,000 customers globally, with a focus on high-end architectural projects.

Tecnoglass (NYSE: TGLS) announced a 20% increase in its quarterly dividend, raising it from $0.075 to $0.09 per share. The new annualized dividend will amount to $0.36 per share, compared to the previous $0.30.

The quarterly dividend will be payable on April 28, 2023, to shareholders on record by the close of business on March 31, 2023. This decision reflects the company's strong earnings capability and commitment to returning value to shareholders, as stated by Santiago Giraldo, CFO.

Tecnoglass (NYSE: TGLS), a leading manufacturer of architectural glass and aluminum products, will participate in the Raymond James 44th Annual Institutional Investors Conference on March 8, 2023 in Orlando, FL. The company, based in Barranquilla, Colombia, serves global residential and commercial markets with over 90% of its revenue coming from the U.S. Tecnoglass boasts a 4.1 million square foot manufacturing complex, making it the second largest glass fabricator in the U.S. and the top architectural glass transformation company in Latin America. Their products feature in notable projects including Salesforce Tower and One Thousand Museum.

Tecnoglass, a leading manufacturer of architectural glass, reported record fourth-quarter revenues of $211.1 million, representing a 60.2% increase year-over-year, alongside adjusted EBITDA of $87.2 million, up 106.8%. The company achieved significant growth in both the single-family residential (59%) and multifamily/commercial segments (61%), with a gross margin of 52.2%. Backlog increased 24% year-over-year to an all-time high of $725.2 million. For 2023, Tecnoglass projects revenues between $790 million and $830 million and adjusted EBITDA of $300 million to $320 million.