Tecnoglass Stock Surges After Q3 Earnings Beat, Raised FY21 Outlook

  • Tecnoglass Inc TGLS reported a third-quarter revenue increase of 26.2% year-over-year to $130.4 million, beating the consensus of $117.51 million.
  • U.S. revenues were $123.2 million (+28.8% Y/Y), representing 94.5% of total revenues. Single-family residential revenues increased 213% Y/Y and represented 48% of U.S. revenues.
  • Adjusted EPS improved to $0.45 from $0.28 in 3Q20, beating the consensus of $0.35.
  • The gross margin expanded by 80 bps to 39.6%. The operating income increased by 49.2% Y/Y to $30.15 million, and the margin expanded by around 356 bps to 23.1%.
  • Adjusted EBITDA increased 36.1% Y/Y to $38.74 million, and margin expanded by 220 bps to 29.7%.
  • Tecnoglass generated cash from operating activities year-to-date of $93.42 million, compared to $51.05 million a year ago.
  • The company had total liquidity of ~$150 million, including cash and cash equivalents of $86.5 million.
  • The company’s Backlog expanded to $576 million (+7.4% Y/Y).
  • FY21 Outlook: Tecnoglass raised adjusted EBITDA outlook to $140 million - $145 million from the prior view of $125 million - $135 million.
  • Total revenues forecast raised to $485 million - $495 million from prior $450 million - $465 million, versus the consensus of $461.99 million.
  • Price Action: TGLS shares traded higher by 6.09% at $31.35 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapMoversTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!