Tecnoglass revises Q3 2026 net income to $16.7M

Q: How did TGLS’s third-quarter 2026 earnings change?

TGLS revised third-quarter net income to $16.7 million from $22.8 million originally reported, and diluted earnings per share to $0.38 from $0.51. The company attributed the revisions to its deferred income tax accounting correction.

The non-cash accounting adjustment leaves revenue, operating income, Adjusted EBITDA and cash flows unchanged.

Available on EDGAR 11/09/2026 - 04:31 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:31 PM EST

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Filing Sentiment

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Form Type

8-K/A

Rhea-AI Filing Summary

Tecnoglass Holdings Inc. revised its third-quarter and nine-month 2026 results after correcting deferred income tax accounting tied to changes in the fair value of treasury stock. The company recorded a valuation allowance on a deferred tax asset related to a capital loss, based on available projections. For the three months ended September 30, 2026, net income was revised to $16.7 million from $22.8 million, and diluted earnings per share to $0.38 from $0.51. For the nine months, net income was revised to $73.2 million from $79.2 million, and diluted earnings per share to $1.65 from $1.78.

Adjusted net income was revised to $21.2 million, or $0.48 per diluted share, for the quarter, and $79.6 million, or $1.79 per diluted share, for nine months. The correction increased the income tax provision by $6.0 million in each period. At September 30, total assets decreased from $1,528.4 million to $1,526.3 million, liabilities increased from $707.0 million to $710.9 million, and shareholders’ equity decreased from $821.4 million to $815.4 million. The company said the correction is non-cash and does not affect revenue, operating income, Adjusted EBITDA or cash flows.

0 points · 0 major

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Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 1 point

How the balance works

Positive

None.

Negative

Moderate pointTax correction lowered net income by $6.0 million in each period.

8-K Event Classification

Item 2.02 — Results of Operations and Financial Condition

1 item

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Key Figures

Net income: $16.7 million Diluted earnings per share: $0.38 Net income: $73.2 million +5 more

8 metrics

Net income $16.7 million Three months ended September 30, 2026; revised from $22.8 million

Diluted earnings per share $0.38 Three months ended September 30, 2026; revised from $0.51

Net income $73.2 million Nine months ended September 30, 2026; revised from $79.2 million

Diluted earnings per share $1.65 Nine months ended September 30, 2026; revised from $1.78

Income tax provision $8.5 million Three months ended September 30, 2026; revised from $2.4 million

Income tax provision $34.5 million Nine months ended September 30, 2026; revised from $28.4 million

Total assets $1,526.3 million As of September 30, 2026; revised from $1,528.4 million

Shareholders’ equity $815.4 million As of September 30, 2026; revised from $821.4 million

Key Terms

valuation allowance, deferred tax asset, deferred tax liabilities, Adjusted EBITDA, +1 more

5 terms

valuation allowance financial

"A valuation allowance was recorded on the deferred tax asset"

A valuation allowance is a reserve set aside to reduce the value of certain assets on a company's financial records when there is uncertainty about whether they will generate the expected benefits. It acts like a caution sign, indicating that some assets might not be fully recoverable or worth their recorded amount. This matters to investors because it provides a more realistic picture of a company's financial health and potential risks.

deferred tax asset financial

"the deferred tax asset related to the capital loss"

A deferred tax asset is an accounting recognition that a company expects to pay less tax in the future because of past losses or timing differences between accounting and tax rules; think of it as an IOU from the tax system that can reduce future tax bills. It matters to investors because it can boost future cash flow and reported profits if the company generates enough taxable income to use it, but its value depends on realistic prospects for future earnings.

deferred tax liabilities financial

"reflecting the higher deferred tax liabilities"

An accounting entry that records taxes a company will likely have to pay in the future because the way profit is reported for investors (financial accounts) differs from how taxable income is calculated today. It matters to investors because it signals real future cash outflows that will reduce funds available for dividends, debt repayment or investment—think of it as a bill put on layaway that the company still must settle later, affecting valuation and financial strength.

Adjusted EBITDA financial

"The correction is non-cash and has no impact on revenue, operating income, Adjusted EBITDA or cash flows"

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.

Adjusted net income financial

"Adjusted net income and adjusted earnings per share are non-GAAP financial measures"

Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.

Earnings Snapshot

Net income, three months: $16.7 million

Three and nine months ended September 30, 2026

Net income, three months $16.7 million Revised from $22.8 million

Diluted earnings per share, three months $0.38 Revised from $0.51

Net income, nine months $73.2 million Revised from $79.2 million

Diluted earnings per share, nine months $1.65 Revised from $1.78

FAQ

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

How did TGLS’s third-quarter 2026 earnings change?

TGLS revised third-quarter net income to $16.7 million from $22.8 million originally reported, and diluted earnings per share to $0.38 from $0.51. The company attributed the revisions to its deferred income tax accounting correction.

Did TGLS’s tax correction affect cash flow?

No. Tecnoglass said the correction was non-cash and did not affect revenue, operating income, Adjusted EBITDA or cash flows.

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

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A

(Amendment No. 1)

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 5, 2026

TECNOGLASS HOLDINGS INC.

(Exact Name of Registrant as Specified in Charter)

Florida

001-35436

98-1271120

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

3550 NW 49th Street, Miami, Florida 33142

Avenida Circunvalar a 100 mts de la Via 40, Barrio Las Flores Barranquilla, Colombia

(Address of Principal Executive Offices) (Zip Code)

(57)(5) 3734000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		TGLS		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 5, 2026, Tecnoglass Holdings Inc. (the “Company”) furnished a Current Report on Form 8-K (the “Original Form 8-K”) that included, as Exhibit 99.1, a press release announcing its financial results for the third quarter ended September 30, 2026 (the “Original Earnings Release”). Subsequent to issuance of the Original Earnings Release and furnishing of the Original Form 8-K and, in connection with the completion of its financial close procedures for its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 (the “Quarterly Report”), the Company corrected the accounting for deferred income taxes associated with changes in the fair value of treasury stock, which are recognized in shareholders’ equity. A valuation allowance was recorded on the deferred tax asset related to the capital loss based on available projections. The correct valuation allowance was included in the Quarterly Report. The Company is furnishing this Amendment No. 1 on Form 8-K/A (this “Amendment”) to the Original Form 8-K to provide the revised information relating to the income tax provision and related amounts that were presented in the Original Earnings Release.

The correction had the following effects on amounts presented in the Original Earnings Release:

Three and nine months ended September 30, 2026

	●	Income tax provision increased by $6.0 million in each period, from $2.4 million to $8.5 million for the three months and from $28.4 million to $34.5 million for the nine months.
	●	Net income decreased by $6.0 million in each period, from $22.8 million, or $0.51 per diluted share, to $16.7 million, or $0.38 per diluted share, for the three months, and from $79.2 million, or $1.78 per diluted share, to $73.2 million, or $1.65 per diluted share, for the nine months.
	●	Adjusted net income decreased by $6.0 million in each period, from $27.3 million, or $0.61 per diluted share, to $21.2 million, or $0.48 per diluted share, for the three months, and from $85.7 million, or $1.93 per diluted share, to $79.6 million, or $1.79 per diluted share, for the nine months.

Condensed consolidated balance sheet as of September 30, 2026

	●	Total assets at such date decreased by $2.1 million, from $1,528.4 million to $1,526.3 million, reflecting the lower deferred tax assets.
	●	Total liabilities at such date increased by $3.9 million, from $707.0 million to $710.9 million, reflecting the higher deferred tax liabilities.
	●	Total shareholders’ equity at such date decreased by $6.0 million, from $821.4 million to $815.4 million.

Income before income taxes of $25.2 million and $107.6 million for the three and nine months ended September 30, 2026 remains as originally reported. The correction is non-cash and has no impact on revenue, operating income, Adjusted EBITDA or cash flows.

Adjusted net income and adjusted earnings per share are non-GAAP financial measures. A reconciliation to the most directly comparable GAAP measures is as follows:

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. The Company’s 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		16,708			47,188			73,154			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		21,217			46,659			79,609			138,237
Basic income per share		0.38			1.01			1.65			2.84
Diluted income per share		0.38			1.01			1.65			2.84
Diluted Adjusted net income per share		0.48			1.00			1.79			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		16,708			47,188			73,154			133,460
Interest expense and deferred cost of financing		4,501			1,686			10,765			4,367
Income tax provision		8,464			20,801			34,461			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

The Company makes no admission as to the materiality of any information in this Amendment.

The information furnished in this Amendment shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any disclosure document of the Company, except as shall be expressly set forth by specific reference in such document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 9, 2026

	TECNOGLASS HOLDINGS INC.

	By:	/s/ Jose M. Daes
	Name:	Jose M. Daes
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

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