Tecnoglass Reports Second Quarter 2026 Results, Including Record Revenues on Continued Market Share Gains
Rhea-AI Summary
Tecnoglass (NYSE:TGLS) reported record second quarter 2026 revenue of $295.3 million, up 15.6% year-over-year, with multi-family/commercial revenue up 15.7% to $168.8 million and single-family residential revenue up 15.4% to $126.5 million. Backlog grew 15.6% to a record $1.38 billion.
Gross margin declined to 37.3% from 44.7% due to higher aluminum and labor costs, a stronger Colombian peso, Section 232 aluminum tariffs and severance. Net income was $24.6 million ($0.55 diluted EPS), and adjusted EBITDA was $51.7 million (17.5% margin). Liquidity totaled $360 million with net leverage around 0.6x.
The company paid $6.7 million in dividends, continued its share repurchase program, completed redomiciliation to Florida, advanced automation including a 10% headcount reduction, and narrowed 2026 guidance to revenue of $1.08–$1.12 billion and adjusted EBITDA of $220–$230 million.
Positive
- Q2 2026 revenue $295.3M, up 15.6% year-over-year, with records in both segments
- Record backlog $1.38B, up 15.6% year-over-year, supporting future revenue visibility
- Liquidity about $360M at quarter-end, including $80.8M cash and $280M revolver availability
- Low leverage around 0.6x net debt to LTM adjusted EBITDA, providing financial flexibility
- Capital returns $6.7M dividends in Q2 2026; $92.5M remaining under share repurchase program
- 2026 guidance revenue $1.08B–$1.12B and adjusted EBITDA $220M–$230M, based on order book visibility
Negative
- Gross margin fell to 37.3% from 44.7% year-over-year on higher costs and tariffs
- Adjusted EBITDA declined to $51.7M (17.5% margin) from $79.8M (31.2%) in prior-year quarter
- Net income decreased to $24.6M ($0.55 diluted EPS) from $44.1M ($0.94) year-over-year
- SG&A expense rose to $73.5M, including about $17M related to Section 232 tariffs, lifting SG&A ratio to 24.9%
- Operating cash flow was $4.4M in Q2 2026, impacted by tax payments, tariffs and strategic aluminum purchases
News Explained
Second-quarter liquidity included $80.8 million cash and $280 million revolver availability, alongside $225.4 million total debt.
The proposed U.S. facility remains at the feasibility stage: Tecnoglass expects to purchase land by
At
The named milestone to monitor is the expected land purchase by
Market reaction after 2Q26 earnings report: TGLS -3.34%
Following this news, TGLS has declined 3.34%, reflecting a moderate negative market reaction. Our momentum scanner has triggered 8 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $46.16.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | Q1 earnings report | Positive | -3.6% | Record revenue, earnings, EBITDA and backlog growth accompanied by negative price reaction |
| Feb 26 | FY2025 earnings report | Positive | -6.3% | Record annual revenue, expanded backlog and 2026 guidance accompanied by selloff |
| Nov 06 | Q3 earnings report | Positive | -6.4% | Record revenue, earnings, EBITDA and updated guidance accompanied by negative price reaction |
| Aug 07 | Q2 earnings report | Positive | -4.1% | Record revenue, margin expansion and strengthened guidance accompanied by selloff |
| May 08 | Q1 earnings report | Positive | +15.8% | Record revenue, margin expansion and raised operating outlook accompanied by gains |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tagged history was generally negative despite positive operating headlines: four of five events diverged, while the average move was -0.91%.
Key Terms
adjusted ebitda financial
adjusted net income financial
redomiciliation regulatory
section 232 tariffs regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Record Second Quarter Revenue of
- Net Income of
- Adjusted Net Income1 of
- Adjusted EBITDA1 of
- Backlog Expanded
- Strong Balance Sheet for Disciplined Deployment with Total Liquidity of
- Returned Value to Shareholders During the Quarter Through
- Implemented Pricing Actions and Automation Initiatives Expected to Benefit Results in Second Half -
- Completed U.S. Redomiciliation, Aligning Corporate Structure with U.S. Listing, Enhancing Index Eligibility and Broadening Investor Access -
- Updated Full Year 2026 Guidance -
Miami, FL, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Tecnoglass Holdings Inc. (NYSE: TGLS) (“Tecnoglass” or the “Company”), a leading producer of high-end aluminum and vinyl windows and architectural glass for the global residential and commercial end markets, today reported financial results for the second quarter ended June 30, 2026.
José Manuel Daes, Chief Executive Officer of Tecnoglass, commented, “We delivered record second quarter revenues, with double-digit growth in both our single-family residential and multi-family and commercial businesses, reflecting healthy demand, continued market share gains and consistent execution across our expanding footprint. Margins developed largely as we outlined last quarter, reflecting elevated aluminum costs, a stronger Colombian Peso and the initial impact of the April enactment of Section 232 tariffs on certain aluminum-based products. We are addressing these dynamics through pricing actions, which began flowing into orders in May, along with logistics optimization and accelerated automation initiatives. We expect these actions to progressively benefit results in the second half of the year as we work toward a more optimized cost position entering 2027. Our first half actions and performance support our confidence in the balance of the year, and we remain focused on creating long-term value for our shareholders.”
Christian Daes, Chief Operating Officer of Tecnoglass, added, “Our backlog grew to another record of
Second Quarter 2026 Results
Total revenues for the second quarter of 2026 increased
Gross profit for the second quarter of 2026 was
Selling, general and administrative expense (“SG&A”) was
Net income was
Adjusted net income1 was
Adjusted EBITDA1, as reconciled in the table below, was
Cash Generation, Capital Allocation and Liquidity
Cash provided by operating activities for the second quarter of 2026 was approximately
During the quarter, the Company returned capital to shareholders through
The Company ended the second quarter of 2026 with total liquidity of approximately
Additional Updates
Effective July 7, 2026, the Company completed its previously announced redomiciliation from the Cayman Islands to the United States, following shareholder approval at the Annual General Meeting. Tecnoglass is now incorporated in the State of Florida and remains headquartered in Miami, Florida. The Company believes this milestone supports its strategic objectives by simplifying its organizational and regulatory structure, improving the tax efficiency of dividend distributions, and broadening its potential investor base to include investors that are limited to investing in U.S.-domiciled companies. The Company's ordinary shares continue to trade on the NYSE under the symbol TGLS.
As previously disclosed, the Company is conducting a feasibility study for the potential construction of a new state-of-the-art facility in the United States. The Company expects to complete the purchase of land for this potential facility by the end of August 2026, which preserves strategic flexibility as due diligence continues and does not represent a commitment to proceed with any construction, which would occur in phases based on factors such as demand, market conditions and return profiles. The Company is also in advanced discussions with state authorities to finalize incentives that would be expected to significantly enhance the potential economics of the proposed project.
Additionally, the Company continues to advance its automation and efficiency initiatives, completing a
Full Year 2026 Guidance
Santiago Giraldo, Chief Financial Officer of Tecnoglass, stated, “Based on our first half performance and the visibility provided by our order book, we are narrowing our full year 2026 revenue outlook to a range of
Webcast and Conference Call
Management will host a webcast and conference call on August 6, 2026, at 10:00 a.m. Eastern time to review the Company’s results. The conference call will be broadcast live over the Internet. Additionally, a slide presentation will accompany the conference call. To listen to the call and view the slides, please visit the Investor Relations section of Tecnoglass’ website at www.tecnoglass.com. Please go to the website at least 15 minutes early to register, download and install any necessary audio software. For those unable to access the webcast, the conference call will be accessible by dialing 1-844-676-5131 (domestic) or 1-412-634-6589 (international). Upon dialing in, please request to join the Tecnoglass Second Quarter 2026 Earnings Conference Call.
If you are unable to listen live, a replay of the webcast will be archived on the website. You may also access the conference call playback by dialing 1-844-512-2921 (Domestic) or 1-412-317-6671 (International) and entering passcode: 10210630.
About Tecnoglass
Tecnoglass Holdings Inc. is a leading producer of high-end aluminum and vinyl windows and architectural glass serving the multi-family, single-family, and commercial end markets. Tecnoglass is the second largest glass fabricator serving the U.S. and the #1 architectural glass transformation company in Latin America. Located in Barranquilla, Colombia, the Company’s 5.8 million square foot, vertically integrated, and state-of-the-art manufacturing complex provide efficient access to nearly 1,000 customers in North, Central and South America, with the United States accounting for over
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass’ business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass’ filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Tecnoglass’ financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events and changes in assumptions or otherwise, except as required by law.
1 Adjusted net income (loss) and Adjusted EBITDA in both periods are reconciled in the table below.
Investor Relations:
Santiago Giraldo / CFO
305-503-9062
investorrelations@tecnoglass.com
Tecnoglass Holdings Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share and per share data)
| June 30, | December 31, | ||||||||
| 2026 | 2025 | ||||||||
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 80,814 | $ | 100,901 | |||||
| Investments | 3,466 | 3,150 | |||||||
| Trade accounts receivable, net | 287,466 | 239,448 | |||||||
| Due from related parties | 2,075 | 2,002 | |||||||
| Inventories | 271,595 | 213,524 | |||||||
| Contract assets – current portion | 29,701 | 31,809 | |||||||
| Other current assets | 55,082 | 62,724 | |||||||
| Total current assets | $ | 730,199 | $ | 653,558 | |||||
| Long-term assets: | |||||||||
| Property, plant and equipment, net | $ | 562,122 | $ | 476,159 | |||||
| Long term accounts receivable | 1,887 | 1,730 | |||||||
| Deferred income taxes | 329 | 1,257 | |||||||
| Contract assets – non-current | 28,414 | 20,506 | |||||||
| Intangible assets | 13,808 | 12,959 | |||||||
| Goodwill | 30,059 | 30,059 | |||||||
| Equity method investment | 55,656 | 57,443 | |||||||
| Other long-term assets | 7,417 | 6,721 | |||||||
| Total long-term assets | 699,692 | 606,834 | |||||||
| Total assets | $ | 1,429,891 | $ | 1,260,392 | |||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||
| Current liabilities: | |||||||||
| Short-term debt and current portion of long-term debt | $ | 6,156 | $ | 427 | |||||
| Trade accounts payable and accrued expenses | 178,854 | 127,228 | |||||||
| Due to related parties | 8,895 | 10,881 | |||||||
| Dividends payable | 6,675 | 6,730 | |||||||
| Contract liability – current portion | 173,825 | 149,442 | |||||||
| Other current liabilities | 18,250 | 57,038 | |||||||
| Total current liabilities | $ | 392,655 | $ | 351,746 | |||||
| Long-term liabilities: | |||||||||
| Deferred income taxes | $ | 28,181 | $ | 22,404 | |||||
| Contract liability – non-current | 1,045 | 1,988 | |||||||
| Long-term debt | 219,238 | 171,202 | |||||||
| Total long-term liabilities | 248,464 | 195,594 | |||||||
| Total liabilities | $ | 641,119 | $ | 547,340 | |||||
| SHAREHOLDERS’ EQUITY | |||||||||
| Preferred shares, | $ | $ | |||||||
| Ordinary shares, | 5 | 5 | |||||||
| Treasury stock | (95,679 | ) | (79,218 | ) | |||||
| Legal Reserves | 1,458 | 1,458 | |||||||
| Additional paid-in capital | 153,353 | 153,358 | |||||||
| Retained earnings | 713,697 | 670,558 | |||||||
| Accumulated other comprehensive (loss) income | 15,938 | (33,109 | ) | ||||||
| Shareholders’ equity attributable to controlling interest | 788,772 | 713,052 | |||||||
| Total liabilities and shareholders’ equity | $ | 1,429,891 | $ | 1,260,392 | |||||
Tecnoglass Holdings Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
(In thousands, except share and per share data)
(Unaudited)
| Three months ended | Six months ended | |||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||
| Operating revenues: | ||||||||||||||||||||
| External customers | $ | 294,571 | $ | 254,145 | $ | 542,962 | $ | 475,417 | ||||||||||||
| Related parties | 720 | 1,401 | 1,341 | 2,417 | ||||||||||||||||
| Total operating revenues | 295,291 | 255,546 | 544,303 | 477,834 | ||||||||||||||||
| Cost of sales | (185,257 | ) | (141,211 | ) | (338,435 | ) | (265,974 | ) | ||||||||||||
| Gross profit | 110,034 | 114,335 | 205,868 | 211,860 | ||||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Selling expense | (45,081 | ) | (29,730 | ) | (67,981 | ) | (53,347 | ) | ||||||||||||
| General and administrative expense | (28,409 | ) | (23,405 | ) | (56,402 | ) | (42,260 | ) | ||||||||||||
| Total operating expenses | (73,490 | ) | (53,135 | ) | (124,383 | ) | (95,607 | ) | ||||||||||||
| Other Operating income | - | 4 | - | 4,280 | ||||||||||||||||
| Operating income | 36,544 | 61,204 | 81,485 | 120,533 | ||||||||||||||||
| Non-operating income, net | 644 | 588 | 1,500 | 1,604 | ||||||||||||||||
| Equity method (loss) income | (231 | ) | 942 | (129 | ) | 2,286 | ||||||||||||||
| Foreign currency transactions gains | 5,213 | 847 | 6,130 | 338 | ||||||||||||||||
| Interest expense, net and deferred cost of financing | (3,520 | ) | (1,350 | ) | (6,543 | ) | (2,681 | ) | ||||||||||||
| Income before taxes | 38,650 | 62,231 | 82,443 | 122,080 | ||||||||||||||||
| Income tax provision | (14,095 | ) | (18,148 | ) | (25,997 | ) | (35,808 | ) | ||||||||||||
| Net income | $ | 24,555 | 44,083 | 56,446 | $ | 86,272 | ||||||||||||||
| Basic income per share | $ | 0.55 | 0.94 | 1.27 | $ | 1.84 | ||||||||||||||
| Diluted income per share | $ | 0.55 | 0.94 | 1.27 | $ | 1.84 | ||||||||||||||
| Basic weighted average common shares outstanding | 44,364,801 | 46,988,155 | 44,497,265 | 46,989,650 | ||||||||||||||||
| Diluted weighted average common shares outstanding | 44,364,801 | 46,988,155 | 44,497,265 | 46,989,650 | ||||||||||||||||
| Other comprehensive income: | ||||||||||||||||||||
| Foreign currency translation adjustments | 35,693 | 13,260 | 48,905 | 32,836 | ||||||||||||||||
| Change in fair value of investments available for sale and derivative contracts | (50 | ) | 785 | 142 | 148 | |||||||||||||||
| Other comprehensive income | 35,643 | 14,045 | 49,047 | 32,984 | ||||||||||||||||
| Total Comprehensive income | $ | 60,198 | $ | 58,128 | $ | 105,493 | $ | 119,256 | ||||||||||||
Tecnoglass Holdings Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(In thousands) / (Unaudited)
| Six months ended June 30, | ||||||||||
| 2026 | 2025 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||
| Net income | $ | 56,446 | 86,272 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Allowance for credit losses | 1,322 | 987 | ||||||||
| Depreciation and amortization | 21,367 | 16,479 | ||||||||
| Deferred income taxes | 5,009 | 2,002 | ||||||||
| Equity method income | 129 | (2,286 | ) | |||||||
| Loss (gain) on disposal of assets | 487 | (4,254 | ) | |||||||
| Deferred cost of financing | 307 | 556 | ||||||||
| Realized gain on derivative instruments | 1,181 | - | ||||||||
| Unrealized currency translation gains | (15,956 | ) | (8,718 | ) | ||||||
| Other non-cash adjustments | 31 | 391 | ||||||||
| Changes in operating assets and liabilities: | ||||||||||
| Trade accounts receivable | (32,334 | ) | (20,376 | ) | ||||||
| Inventories | (35,818 | ) | (23,996 | ) | ||||||
| Prepaid expenses | (2,691 | ) | (2,529 | ) | ||||||
| Other assets | 19,953 | (3,248 | ) | |||||||
| Trade accounts payable and accrued expenses | 31,340 | 21,802 | ||||||||
| Taxes payable | (39,160 | ) | (18,513 | ) | ||||||
| Labor liabilities | (1,810 | ) | 87 | |||||||
| Other liabilities | 178 | 15 | ||||||||
| Contract assets and liabilities | 3,668 | 21,387 | ||||||||
| Related parties | (2,533 | ) | (1,298 | ) | ||||||
| CASH PROVIDED BY OPERATING ACTIVITIES | $ | 11,116 | 64,760 | |||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||
| Dividends received | 2,257 | 8,914 | ||||||||
| Business acquisition | - | (6,841 | ) | |||||||
| Purchase of investments | (600 | ) | (73 | ) | ||||||
| Sale of property and equipment | - | 12,312 | ||||||||
| Acquisition of property and equipment | (52,662 | ) | (62,939 | ) | ||||||
| CASH USED IN INVESTING ACTIVITIES | $ | (51,005 | ) | (48,627 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||
| Cash dividend | (13,364 | ) | (14,095 | ) | ||||||
| Share repurchases | (16,466 | ) | (339 | ) | ||||||
| Proceeds from debt | 63,810 | 3,613 | ||||||||
| Repayments of debt | (15,731 | ) | (4,103 | ) | ||||||
| CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | $ | 18,249 | (14,924 | ) | ||||||
| Effect of exchange rate changes on cash and cash equivalents | $ | 1,553 | 1,816 | |||||||
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (20,087 | ) | 3,025 | |||||||
| CASH AND CASH EQUIVALENTS - Beginning of period | 100,901 | 134,882 | ||||||||
| CASH AND CASH EQUIVALENTS - End of period | $ | 80,814 | 137,907 | |||||||
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||||||||||
| Cash paid during the period for: | ||||||||||
| Interest | $ | 4,698 | $ | 3,343 | ||||||
| Income Tax | $ | 51,609 | $ | 47,360 | ||||||
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||||||
| Assets acquired under credit or debt | $ | 9,778 | $ | 7,663 | ||||||
| Account payable for business acquisition | $ | - | $ | 3,588 | ||||||
Revenues by Region
(Amounts in thousands)
(Unaudited)
| Three months ended | Six months ended | ||||||||||||
| June 30, | June 30, | ||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||
| Revenues by Region | |||||||||||||
| United States | 286,242 | 242,347 | 18.1 | % | 523,382 | 454,801 | 15.1 | % | |||||
| Colombia | 6,154 | 6,621 | -7.1 | % | 13,673 | 13,035 | 4.9 | % | |||||
| Other Countries | 2,895 | 6,578 | -55.9 | % | 7,248 | 9,998 | -27.5 | % | |||||
| Total Revenues by Region | 295,291 | 255,546 | 15.6 | % | 544,303 | 477,834 | 13.9 | % | |||||
Reconciliation of Non-GAAP Performance Measures to GAAP Performance Measures
(In thousands)
(Unaudited)
The Company believes that total revenues with foreign currency held neutral, which are not performance measures under generally accepted accounting principles (“GAAP”), may provide users of the Company's financial information with additional meaningful bases for comparing the Company's current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. Management uses such performance measures in managing and evaluating the Company’s business. However, these non‑GAAP performance measures should be viewed in addition to, and not as an alternative for, the Company's reported results under accounting principles generally accepted in the United States.
| Three months ended | Six months ended | ||||||||||||
| June 30, | June 30, | ||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||
| Total Revenues with Foreign Currency Held Neutral | 294,431 | 255,546 | 15.2 | % | 542,541 | 477,834 | 13.5 | % | |||||
| Impact of changes in foreign currency | 860 | - | n.a | 1,762 | - | n.a | |||||||
| Total Revenues, As Reported | 295,291 | 255,546 | 15.6 | % | 544,303 | 477,834 | 13.9 | % | |||||
Currency impacts on total revenues for the current quarter have been derived by translating current quarter revenues at the prevailing average foreign currency rates during the prior year quarter, as applicable.
Reconciliation of Adjusted EBITDA and Adjusted net (loss) income to net (loss) income
(In thousands, except share and per share data) / (Unaudited)
Adjusted EBITDA and adjusted net (loss) income are non-GAAP performance measures. Management believes Adjusted EBITDA and adjusted net (loss) income, in addition to operating profit, net (loss) income and other GAAP measures, are useful to investors to evaluate the Company’s results because they exclude certain items that are not directly related to the Company’s core operating performance. Investors should recognize that Adjusted EBITDA and adjusted net (loss) income might not be comparable to similarly-titled measures of other companies. These measures should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with GAAP.
Reconciliations of the non-GAAP measures used in this press release are included in the tables attached to this press release, to the extent available without unreasonable effort. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures. Items excluded to arrive at forward-looking non-GAAP measures may have a significant, and potentially unpredictable, impact on our future GAAP results.
| Three months ended | Six months ended | |||||||||||
| June 30, | June 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Net income | 24,555 | 44,083 | 56,446 | 86,272 | ||||||||
| Foreign currency transactions losses (gains) | (5,213 | ) | (847 | ) | (6,130 | ) | (338 | ) | ||||
| Provision for bad debt | 234 | 772 | 1,322 | 987 | ||||||||
| Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) | 3,753 | 6,660 | 7,233 | 7,297 | ||||||||
| Derivative financial instruments | (64 | ) | - | 279 | - | |||||||
| Joint Venture VA (Saint Gobain) adjustments | 162 | (89 | ) | 75 | (142 | ) | ||||||
| Tax impact of adjustments at statutory rate | 338 | (2,079 | ) | (834 | ) | (2,498 | ) | |||||
| Adjusted net income | 23,765 | 48,500 | 58,391 | 91,578 | ||||||||
| Basic income per share | 0.55 | 0.94 | 1.27 | 1.84 | ||||||||
| Diluted income per share | 0.55 | 0.94 | 1.27 | 1.84 | ||||||||
| Diluted Adjusted net income per share | 0.54 | 1.03 | 1.31 | 1.95 | ||||||||
| Basic weighted average common shares outstanding in thousands | 44,365 | 46,988 | 44,497 | 46,990 | ||||||||
| Diluted Weighted Average Common Shares Outstanding in thousands | 44,365 | 46,988 | 44,497 | 46,990 | ||||||||
| Three months ended | Six months ended | |||||||||||
| June 30, | June 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Net income | 24,555 | 44,083 | 56,446 | 86,272 | ||||||||
| Interest expense and deferred cost of financing | 3,584 | 1,350 | 6,264 | 2,681 | ||||||||
| Income tax provision | 14,095 | 18,148 | 25,997 | 35,808 | ||||||||
| Depreciation & amortization | 10,689 | 9,145 | 21,367 | 16,479 | ||||||||
| Foreign currency transactions losses (gains) | (5,213 | ) | (847 | ) | (6,130 | ) | (338 | ) | ||||
| Provision for bad debt | 234 | 772 | 1,322 | 987 | ||||||||
| Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items) | 3,753 | 6,660 | 7,233 | 7,297 | ||||||||
| Derivative financial instruments | (64 | ) | - | 279 | - | |||||||
| Joint Venture VA (Saint Gobain) EBITDA adjustments | 93 | 468 | 497 | 789 | ||||||||
| ADJUSTED EBITDA | 51,726 | 79,779 | 113,275 | 149,975 | ||||||||
