Tecnoglass Reports Third Quarter 2026 Results

Tecnoglass aims to fully offset tariff costs in 2027 through automation savings and a full year of pricing increases.

Rhea-AI Summary

Tecnoglass (NYSE: TGLS) reported record third-quarter 2026 revenue of $310.6 million, while earnings declined as margins and operating costs worsened. Revenue rose 19.2% year over year, with multi-family/commercial sales up 30.9% and single-family residential sales up 4.1%. Net income fell to $22.8 million, or $0.51 per diluted share, from $47.2 million, or $1.01 per share.

Gross margin fell to 34.1% from 42.7%, reflecting currency effects, aluminum costs and other pressures. Tariff expenses totaled approximately $15.5 million. Adjusted EBITDA, a non-GAAP earnings measure, declined to $47.7 million from $79.1 million. Backlog increased 13.2% to $1.43 billion. Tecnoglass raised its full-year revenue outlook to $1.10 billion–$1.14 billion and adjusted its adjusted EBITDA outlook to $210 million–$220 million. Quarter-end liquidity was approximately $380 million.

12 points · 1 major

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1 major · 12 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Full-year 2026 revenue guidance raised to $1.10 billion–$1.14 billion.
• Moderate pointRevenue rose 19.2% year over year to a record $310.6 million in third-quarter 2026.
• Moderate pointMulti-family/commercial revenue grew 30.9% year over year to a record $192.4 million.
• Moderate pointBacklog expanded 13.2% year over year to a record $1.43 billion.
• Moderate pointLiquidity totaled approximately $380 million at September 30, with net leverage approximately 0.9x trailing adjusted EBITDA.
• Moderate pointLargest project to date signed after quarter-end, extending the commercial project pipeline.
• Moderate point. Forward-looking: it has not happened yet and may not happen.May pricing increases began reaching revenue; commercial projects should reflect them starting late 2026 and during 2027.

5 minor points

• Minor pointSingle-family residential revenue rose 4.1% year over year to $118.1 million despite second-quarter advance orders.
• Minor pointOperating cash flow was approximately $21.5 million in third-quarter 2026.
• Minor pointCapacity enhancements and automation investments continued, with automation efficiencies already partly offsetting margin pressures.
• Minor pointAluminum secured at lower prices after earlier purchases at peak levels.
• Minor point. Forward-looking: it has not happened yet and may not happen.2027 tariff-offset target relies on automation savings and full-year pricing, according to Tecnoglass.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EBITDA outlook adjusted to $210 million–$220 million, mainly reflecting the approximately $8.4 million inventory revaluation.
• Moderate pointNet income fell to $22.8 million, or $0.51 diluted EPS, from $47.2 million and $1.01 a year earlier.
• Moderate pointAdjusted EBITDA fell to $47.7 million from $79.1 million; margin declined to 15.3% from 30.4% year over year.
• Moderate pointGross profit declined to $106.0 million from $111.3 million; margin fell to 34.1% from 42.7% year over year.
• Moderate pointSG&A rose to $74.0 million from $47.3 million, including approximately $15.5 million in Section 232 tariff expenses.
• Moderate pointCapital expenditures of approximately $66.1 million included land, capacity enhancements and automation payments during the quarter. 3.5% of market cap

6 minor points

• Minor pointAdjusted net income fell to $27.3 million, or $0.61 diluted EPS, from $46.7 million and $1.00 a year earlier.
• Minor pointPeso appreciation drove approximately 580 basis points of gross-margin decline, including approximately $8.4 million in non-cash inventory revaluation.
• Minor pointHigher aluminum and labor costs, plus a higher installation-revenue mix, also pressured gross margin.
• Minor pointNon-cash foreign-exchange transaction loss of $3.3 million replaced a $1.9 million gain in the prior-year quarter.
• Minor pointTotal debt reached $293.6 million at September 30, 2026.
• Minor pointPotential Florida factory remains under feasibility review; construction is not committed and depends on demand, market conditions and returns.

News Explained

In August, Tecnoglass completed a $23 million land purchase in Florida for a potential manufacturing facility; its feasibility study remains active, but the company has not committed to construction.

Key Figures

Revenue: $310.6 million; up 19.2% year-over-year Gross margin: 34.1%, versus 42.7% Net income: $22.8 million, or $0.51 per diluted share +5 more

Revenue

$310.6 million; up 19.2% year-over-year

Q3 2026

Gross margin

34.1%, versus 42.7%

Q3 2026 versus prior-year quarter

Net income

$22.8 million, or $0.51 per diluted share

Q3 2026; prior-year net income was $47.2 million

Adjusted EBITDA

$47.7 million, or 15.3% of revenue

Q3 2026; prior-year quarter was $79.1 million, or 30.4%

Backlog

$1.43 billion; up 13.2% year-over-year

Record backlog at Q3 2026

2026 revenue guidance

$1.10 billion–$1.14 billion

Full-year outlook, raised

2026 Adjusted EBITDA guidance

$210 million–$220 million

Full-year outlook

Total liquidity

$380 million

At September 30, 2026

Previous Earnings Reports

1 past event · Latest: Aug 06

Same Type 1 event

1. Aug 06

   Q2 earnings

   24h Move

   -6.9%

   Record revenue and backlog growth accompanied by margin compression and lower net income.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sg&a, adjusted ebitda, inventory revaluation, mark-to-market

4 terms

sg&a financial

"Selling, general and administrative expense (“SG&A”) was $74.0 million"

SG&A stands for Selling, General, and Administrative expenses. It includes the costs a company spends on selling products, running the business day-to-day, and managing staff, like advertising, rent, and salaries. These expenses matter because they affect how much profit a company can make from its sales.

adjusted ebitda financial

"Adjusted EBITDA was $47.7 million, or 15.3% of total revenues"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

inventory revaluation financial

"That inventory was bought when the Peso was weaker and sold after it strengthened"

An accounting adjustment that changes the carrying amount of a company’s inventory on the balance sheet to reflect its current value, typically because costs, market selling prices, or expected costs to complete and sell the goods have changed. Inventory revaluation can take the form of write‑downs (reducing inventory to its net realizable value or recognizing impairment) or, where permitted by the accounting framework, reversals or upward adjustments; the permitted direction and timing of those changes depends on the applicable accounting standards (for example, U.S. GAAP generally prohibits reversing previous write‑downs, while IFRS allows reversals when the reason for the write‑down no longer exists).

mark-to-market financial

"the non-cash mark-to-market of certain derivative transactions"

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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- Record Revenue of $310.6 Million, a 19.2% Year-Over-Year Increase, All-Organic Growth Driven by Continued Market Share Gains and Geographic Expansion –

- Net Income of $22.8 Million, or $0.51 Per Diluted Share –

- Adjusted Net Income¹ of $27.3 Million, or $0.61 Per Diluted Share –

- Adjusted EBITDA¹ of $47.7 Million, Which Would Have Been an Estimated $8.4 Million Higher Excluding a Non-Cash Inventory Revaluation Due to the Rapid Rise in the Colombian Peso –

- Backlog Expanded 13.2% Year-Over-Year to a Record $1.43 Billion –

- Strong Balance Sheet for Disciplined Deployment with Total Liquidity of $380 Million –

- Opened Los Angeles Showroom, Bringing Legacy Line Aluminum Windows to the West Coast and Supporting Ongoing Geographic Expansion –

- Updated Full Year 2026 Guidance -

Miami, FL, Nov. 05, 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 third quarter ended September 30, 2026.

José Manuel Daes, Chief Executive Officer of Tecnoglass, commented, “We were pleased to deliver record revenues in the third quarter, up 19% year-over-year, led by 31% growth in our multi-family and commercial business. Single-family residential revenues grew 17% year-over-year excluding the previously disclosed pre-buy activity in the second quarter, reflecting continued market share gains as we expand outside of Florida. Third quarter margins were pressured by costs outside of our control, including elevated aluminum costs, ongoing tariffs and a Colombian Peso at its strongest level since 2018. Our higher volumes in the quarter drew on aluminum purchased at peak prices earlier in the year, and we have since secured aluminum at lower levels. Excluding an $8.4 million non-cash inventory revaluation tied to a rapid rise in the Peso, Adjusted EBITDA for the quarter was actually ahead of our internal expectations given a very strong top line performance. The benefits of our May pricing actions are beginning to flow through single-family residential invoicing, and our automation initiatives are taking hold, which position us well to deliver improved profitability. Together, these actions are making us a stronger and more efficient company, and we remain confident in our ability to unlock additional value for our shareholders.”

Christian Daes, Chief Operating Officer of Tecnoglass, added, “Our backlog reached another record of $1.43 billion, extending our track record of sequential growth since 2021 and reflecting consistent execution on a growing pipeline of multi-family and commercial projects. We continued to book large projects within the luxury lodging and condo market, and subsequent to quarter end signed our largest project to date, which continues to provide strong visibility for the next few years. Our May pricing will reach multi-family and commercial revenue as projects booked after the increase move through our backlog, starting with shorter-cycle jobs late this year and larger projects during 2027. In single-family residential projects, our expanding dealer network, vinyl lines and geographic diversification continue to support market share gains, and our recently opened Los Angeles showroom is bringing our Legacy Line to the West Coast. Across both businesses, our differentiated product portfolio, expanding geographic reach, and strong project pipeline position us well to keep gaining share as we move into 2027.”

Third Quarter 2026 Results

Total revenues for the third quarter of 2026 increased 19.2% to a record $310.6 million, compared to $260.5 million in the prior year quarter. Multi-family/commercial revenues grew 30.9% year-over-year to a record $192.4 million, driven by execution on a record backlog as projects moved into more advanced stages. Single-family residential revenues grew 4.1% year-over-year to $118.1 million, reflecting continued market share gains, geographic expansion and pricing actions, partially offset by the timing of orders placed in the second quarter ahead of the Company’s May pricing actions. Changes in foreign currency exchange rates represented a $2.4 million benefit to total revenues in the quarter.

Gross profit for the third quarter was $106.0 million, or a 34.1% gross margin, compared to $111.3 million, or a 42.7% gross margin in the prior year quarter. A stronger Colombian Peso, which appreciated approximately 20% year-over-year and 12% sequentially, drove approximately 580 basis points of the 860 basis point decline. Roughly 250 basis points of that FX impact was a non-cash inventory revaluation of approximately $8.4 million. That inventory was bought when the Peso was weaker and sold after it strengthened, which increased its reported cost without any cash impact. Gross margin also reflected higher raw material costs from U.S. aluminum purchased at peak prices earlier in the year, an unfavorable mix from a higher level of installation revenue, and higher labor costs related to the annual minimum wage adjustment in Colombia at the beginning of the year. These impacts were partly offset by operating leverage on higher volume, pricing actions implemented in May that began converting into revenue during the quarter, and efficiencies from the Company’s automation initiatives. Excluding that non-cash effect, gross margin was roughly in line with the second quarter of 2026.

Selling, general and administrative expense (“SG&A”) was $74.0 million for the third quarter of 2026 compared to $47.3 million in the prior year quarter. The increase primarily reflected approximately $15.5 million of expenses associated with Section 232 tariffs on finished aluminum window imports, along with higher transportation and commission expenses associated with revenue growth in the quarter and a stronger Colombian Peso. As a percent of total revenues, SG&A was 23.8% for the third quarter of 2026 compared to 18.2% in the prior year quarter, primarily due to the aforementioned factors.

Net income was $22.8 million, or $0.51 per diluted share, in the third quarter of 2026 compared to net income of $47.2 million, or $1.01 per diluted share, in the prior year quarter, including a non-cash foreign exchange transaction loss of $3.3 million in the third quarter of 2026 and a gain of $1.9 million in the third quarter of 2025. These non-cash gains and losses relate to the accounting re-measurement of U.S. Dollar-denominated assets and liabilities against the Colombian Peso as the functional currency.

Adjusted net income¹ was $27.3 million, or $0.61 per diluted share, in the third quarter of 2026 compared to adjusted net income¹ of $46.7 million, or $1.00 per diluted share, in the prior year quarter. Adjusted net income¹, as reconciled in the table below, excludes the impact of non-cash foreign exchange transaction gains or losses, the non-cash mark-to-market of certain derivative transactions, and other non-core items, along with the tax impact of adjustments at statutory rates, which management believes better reflects core financial performance.

Adjusted EBITDA¹, as reconciled in the table below, was $47.7 million, or 15.3% of total revenues, in the third quarter of 2026, compared to $79.1 million, or 30.4% of total revenues, in the prior year quarter. The change was primarily attributable to the factors impacting gross margin and SG&A. Adjusted EBITDA would have been approximately $8.4 million higher excluding the non-cash inventory revaluation.

Cash Generation, Capital Allocation and Liquidity

Cash provided by operating activities for the third quarter of 2026 was approximately $21.5 million, reflecting working capital contributions from trade receivables and inventories and lower income tax payments than in the second quarter. Capital expenditures of approximately $66.1 million in the quarter included several previously announced investments, including the purchase of land for the potential U.S. facility, and scheduled payments related to capacity enhancements and ongoing automation initiatives. In August, the Company completed the previously announced $23 million purchase of land in St. Lucie County, Florida, to preserve strategic flexibility for a potential new state-of-the-art manufacturing facility. The feasibility study for the potential new facility remains active and does not represent a commitment to proceed with construction, which would occur in phases based on factors such as demand, market conditions and return profiles. The Company has secured state, local and utility incentives that, should the project meet its parameters, are expected to significantly enhance the estimated returns of the potential project.

During the quarter, the Company returned capital to shareholders through $6.7 million in cash dividends. As of September 30, 2026, the Company had approximately $92.5 million remaining under its current share repurchase program.

The Company ended the third quarter of 2026 with total liquidity of approximately $380 million, including $97.7 million of cash and cash equivalents and $280 million of availability under its revolving credit facilities, and total debt of $293.6 million. The Company maintains a conservative leverage profile of approximately 0.9x net debt to LTM Adjusted EBITDA¹, providing significant financial flexibility to continue investing in growth initiatives and returning capital to shareholders.

Full Year 2026 Guidance

Santiago Giraldo, Chief Financial Officer of Tecnoglass, stated, “Based on our performance year to date and the visibility provided by our order book, we are raising our full year 2026 revenue outlook to a range of $1.10 billion to $1.14 billion and adjusting our Adjusted EBITDA outlook to a range of $210 million to $220 million. The change in our Adjusted EBITDA outlook mainly reflects the approximately $8.4 million non-cash inventory revaluation in the third quarter. Excluding that effect, our Adjusted EBITDA outlook would have been approximately $8.4 million higher. Higher than expected revenues are helping offset elevated raw material costs and a stronger Colombian Peso. We remain encouraged by demand trends and by our ability to grow well above industry rates. Looking ahead, we are committed to fully offsetting the impact of tariffs in 2027, as automation savings and full-year pricing are realized. With a conservative debt leverage profile and strong cash generation, we remain well-positioned to invest in growth while returning capital to shareholders.”

Webcast and Conference Call

Management will host a webcast and conference call on November 5, 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 Third 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: 10212425.

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 6.1 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 approximately 95% of total revenues. Tecnoglass’ tailored, high-end products are found on some of the world’s most distinctive properties, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de Cristal (Barranquilla). For more information, please visit www.tecnoglass.com or view our corporate video at https://www.youtube.com/watch?v=qD3AKBv4EkU.

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)

		September 30,				December 31,
		2026				2025
ASSETS
Current assets:
Cash and cash equivalents		$	97,683			$	100,901
Investments			3,579				3,150
Trade accounts receivable, net			282,375				239,448
Due from related parties			2,441				2,002
Inventories			274,879				213,524
Contract assets – current portion			29,458				31,809
Other current assets			58,040				62,724
Total current assets		$	748,455			$	653,558
Long-term assets:
Property, plant and equipment, net		$	635,375			$	476,159
Long term accounts receivable			1,945				1,730
Deferred income taxes			3,087				1,257
Contract assets – non-current			32,098				20,506
Intangible assets			14,295				12,959
Goodwill			30,059				30,059
Equity method investment			55,520				57,443
Other long-term assets			7,589				6,721
Total long-term assets			779,968				606,834
Total assets		$	1,528,423			$	1,260,392
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt		$	6,514			$	427
Trade accounts payable and accrued expenses			177,831				127,228
Due to related parties			10,809				10,881
Dividends payable			6,675				6,730
Contract liability – current portion			167,704				149,442
Other current liabilities			23,627				57,038
Total current liabilities		$	393,160			$	351,746
Long-term liabilities:
Deferred income taxes		$	25,587			$	22,404
Contract liability – non-current			1,117				1,988
Long-term debt			287,126				171,202
Total long-term liabilities			313,830				195,594
Total liabilities		$	706,990			$	547,340
SHAREHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2026, and December 31, 2025 respectively		$	-			$	-
Common stock, $0.0001 par value, 100,000,000 shares authorized, 46,388,946 shares issued, and 44,364,616 shares outstanding at September 30, 2026; and, 46,389,146 shares issued, and 44,737,726 shares outstanding at December 31, 2025			5				5
Treasury stock			(95,679	)			(79,218	)
Legal Reserves			1,458				1,458
Additional paid-in capital			153,344				153,358
Retained earnings			729,795				670,558
Accumulated other comprehensive (loss) income			32,510				(33,109	)
Shareholders’ equity attributable to controlling interest			821,433				713,052
Total liabilities and shareholders’ equity		$	1,528,423			$	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								Nine months ended
		September 30,								September 30,
		2026				2025				2026				2025
Operating revenues:
External customers		$	309,745			$	259,189			$	852,707			$	734,606
Related parties			830				1,290				2,171				3,707
Total operating revenues			310,575				260,479				854,878				738,313
Cost of sales			(204,610	)			(149,159	)			(543,045	)			(415,133	)
Gross profit			105,965				111,320				311,833				323,180
Operating expenses:
Selling expense			(45,225	)			(25,977	)			(113,206	)			(79,324	)
General and administrative expense			(28,812	)			(21,321	)			(85,214	)			(63,581	)
Total operating expenses			(74,037	)			(47,298	)			(198,420	)			(142,905	)
Other Operating income			-				1,361				-				5,641
Operating income			31,928				65,383				113,413				185,916
Non-operating income, net			1,117				1,012				2,617				2,616
Equity method (loss) income			(137	)			519				(266	)			2,805
Foreign currency transactions and derivative financial instruments (loss) gains			(3,260	)			1,865				2,870				2,203
Loss on debt extinguishment			-				(1,354	)			-				(1,354	)
Interest expense, net and deferred cost of financing			(4,476	)			564				(11,019	)			(2,117	)
Income before taxes			25,172				67,989				107,615				190,069
Income tax provision			(2,419	)			(20,801	)			(28,416	)			(56,609	)
Net income		$	22,753				47,188				79,199			$	133,460
Basic income per share		$	0.51				1.01				1.78			$	2.84
Diluted income per share		$	0.51				1.01				1.78			$	2.84
Basic weighted average common shares outstanding			44,364,650				46,847,728				44,452,410				46,941,647
Diluted weighted average common shares outstanding			44,364,650				46,847,728				44,452,410				46,941,647
Other comprehensive income:
Foreign currency translation adjustments			16,623				20,317				65,528				53,153
Change in fair value of investments available for sale and derivative contracts			(51	)			(2,565	)			91				(2,417	)
Other comprehensive income			16,572				17,752				65,619				50,736
Total Comprehensive income		$	39,325			$	64,940			$	144,818			$	184,196

Tecnoglass Holdings Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(In thousands) / (Unaudited)

		Nine months ended September 30,
		2026					2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$	79,199					133,460
Adjustments to reconcile net income to net cash provided by operating activities:
Allowance for credit losses			1,830					1,696
Depreciation and amortization			33,203					26,441
Deferred income taxes			(1,353	)				4,576
Equity method loss (income)			266					(2,805	)
Loss (gain) on disposal of assets			536					(4,226	)
Deferred cost of financing			485					784
Realized loss (gain) on derivative instruments			1,903					(2,045	)
Change in value of derivative liability			2,731					-
Unrealized currency translation gains			(32,478	)				(18,264	)
Other non-cash adjustments			150					410
Loss on extinguishment of debt			-					1,302
Changes in operating assets and liabilities:
Trade accounts receivable			(20,713	)				(33,029	)
Inventories			(32,434	)				(33,903	)
Prepaid expenses			(2,500	)				(2,993	)
Other assets			20,795					(2,771	)
Trade accounts payable and accrued expenses			31,854					15,235
Taxes payable			(40,430	)				(7,800	)
Labor liabilities			2,592					3,815
Other liabilities			144					65
Contract assets and liabilities			(11,891	)				26,766
Related parties			(1,253	)				(1,968	)
CASH PROVIDED BY OPERATING ACTIVITIES		$	32,636					104,746
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends received			2,257					8,914
Business acquisition			-					(6,841	)
Purchase of investments			(600	)				(675	)
Sale of property and equipment			-					12,312
Acquisition of property and equipment			(118,724	)				(81,695	)
CASH USED IN INVESTING ACTIVITIES		$	(117,067	)				(67,985	)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividend			(20,019	)				(21,143	)
Deferred financing costs and debt issuance fees			-					(1,000	)
Share repurchases			(16,475	)				(30,327	)
Proceeds from debt			131,031					116,018
Repayments of debt			(16,023	)				(114,115	)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		$	78,514					(50,567	)
Effect of exchange rate changes on cash and cash equivalents		$	2,699					2,915
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS			(3,218	)				(10,891	)
CASH AND CASH EQUIVALENTS - Beginning of period			100,901					134,882
CASH AND CASH EQUIVALENTS - End of period		$	97,683					123,991
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for:
Interest		$	7,574				$	5,091
Income Tax		$	66,143				$	59,076
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets acquired under credit or debt		$	11,358				$	4,687
Account payable for business acquisition		$	3,588				$	3,588

Revenues by Region

(Amounts in thousands)
(Unaudited)

		Three months ended												Nine months ended
		September 30,												September 30,
		2026				2025				% Change				2026				2025				% Change
Revenues by Region
United States			295,096				246,531				19.7	%			818,478				701,189				16.7	%
Colombia			11,772				7,643				54.0	%			25,445				20,677				23.1	%
Other Countries			3,707				6,306				-41.2	%			10,955				16,447				-33.4	%
Total Revenues by Region			310,575				260,479				19.2	%			854,878				738,313				15.8	%

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												Nine months ended
		September 30,												September 30,
		2026				2025				% Change				2026				2025				% Change
Total Revenues with Foreign Currency Held Neutral			308,191				260,479				18.3	%		$	850,987			$	738,313				15.3	%
Impact of changes in foreign currency			2,384				-				n.a				3,891				-				n.a
Total Revenues, As Reported			310,575				260,479				19.2	%		$	854,878			$	738,313				15.8	%

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								Nine months ended
		September 30,								September 30,
		2026				2025				2026				2025
Net income			22,753				47,188				79,199				133,460
Foreign currency transactions losses (gains)			3,260				(1,865	)			(2,870	)			(2,203	)
Provision for bad debt			507				710				1,829				1,697
Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items)			2,459				1,383				9,692				8,680
Extinguishment of debt			-				1,354				-				1,354
Derivative financial instruments			(25	)			(2,727	)			254				(2,727	)
Joint Venture VA (Saint Gobain) adjustments			241				366				316				224
Tax impact of adjustments at statutory rate			(1,933	)			249				(2,766	)			(2,248	)
Adjusted net income			27,262				46,659				85,654				138,237
Basic income per share			0.51				1.01				1.78				2.84
Diluted income per share			0.51				1.01				1.78				2.84
Diluted Adjusted net income per share			0.61				1.00				1.93				2.94
Basic weighted average common shares outstanding in thousands			44,365				46,848				44,452				46,942
Diluted Weighted Average Common Shares Outstanding in thousands			44,365				46,848				44,452				46,942

			Three months ended								Nine months ended
			September 30,								September 30,
			2026				2025				2026				2025
Net income			22,753				47,188				79,199				133,460
Interest expense and deferred cost of financing			4,501				1,686				10,765				4,367
Income tax provision			2,419				20,801				28,416				56,609
Depreciation & amortization			11,836				9,958				33,203				26,441
Foreign currency transactions losses (gains)			3,260				(1,865	)			(2,870	)			(2,203	)
Provision for bad debt			507				710				1,829				1,697
Non-Recurring expenses (non-recurring professional fees, capital market fees, other non-core items)			2,459				1,383				9,692				8,680
Extinguishment of debt			-				1,354				-				1,354
Derivative financial instruments			(25	)			(2,727	)			254				(2,727	)
Joint Venture VA (Saint Gobain) EBITDA adjustments			(51	)			628				446				1,417
ADJUSTED EBITDA			47,659				79,116				160,934				229,095

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Tecnoglass TGLS third-quarter 2026 earnings and revenue?

Tecnoglass reported $310.6 million in revenue and $22.8 million in net income, or $0.51 per diluted share. Revenue increased 19.2% year over year, while net income declined from $47.2 million, or $1.01 per diluted share.

What is Tecnoglass TGLS full-year 2026 guidance?

Tecnoglass expects $1.10 billion–$1.14 billion in revenue and $210 million–$220 million in adjusted EBITDA for 2026. The revenue outlook was raised. The company said the adjusted EBITDA outlook mainly reflects the approximately $8.4 million third-quarter non-cash inventory revaluation.

Has Tecnoglass committed to building its proposed Florida manufacturing facility?

Tecnoglass has not committed to construction of the potential Florida manufacturing facility. It completed a $23 million land purchase in St. Lucie County in August, while the feasibility study remains active. Construction would proceed in phases based on demand, market conditions and returns. Secured state, local and utility incentives depend on the project meeting their parameters.