NYSE$TGLS
Tecnoglass Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record results driven by strong growth in both multifamily/commercial and single-family residential businesses.
Tecnoglass reported record second-quarter results with total revenues up 33.2% to $225.3 million. The company saw strong organic growth in both multifamily/commercial and single-family residential businesses. Adjusted EBITDA increased 55.8% year-over-year to $85.0 million, representing 37.7% of total revenues.
- Total revenues increased by 33.2% to $225.3 million.
- Gross margin improved to 48.7%, up 520 basis points year-over-year.
- Net income reached $52.6 million, or $1.10 per diluted share.
- Backlog grew by 19.4% year-over-year, reaching an all-time high of $797 million.
Headline financials
Revenue & EPS history
Tecnoglass · Revenue · Quarterly
$225M
Revenue by segment
Tecnoglass · $87.8M total across 1 segment · Q3 2023
- Single-Family Residential$87.8M+2.4%100.0%
Forward guidance
Tecnoglass is increasing its full year 2023 outlook, expecting revenues to grow to a range of $830 million to $855 million and Adjusted EBITDA to a range of $320 million to $335 million.
Tailwinds
- Full year 2023 revenues are expected to grow to a range of $830 million to $855 million, representing approximately 18% growth at the midpoint.
- Adjusted EBITDA forecast is raised to a range of $320 million to $335 million.
- Implies Adjusted EBITDA growth of approximately 23% at the midpoint.
- Expectation to deliver strong margins for the remainder of the year.
- Expect to deliver stronger free cash flow for the rest of the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+2.5%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+6.8%
Avg return
30 days after
56%
31 / 55 earnings
Positive
+37.0%
Q1 2021
Best reaction
-24.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.0% | -9.0% | +0.0% | |
| Q4 2025 | -6.4% | -6.3% | -13.5% | |
| Q3 2025 | -6.0% | -17.3% | -8.3% | |
| Q1 2025 | +16.0% | +23.6% | +24.9% | |
| Q4 2024 | +9.0% | -1.2% | +1.0% | |
| Q3 2024 | +8.2% | +5.3% | +18.5% | |
| Q2 2024 | +17.8% | +21.1% | +24.1% | |
| Q1 2024 | +1.2% | +6.7% | -12.2% | |
| Q4 2023 | -3.7% | -4.9% | +11.9% | |
| Q3 2023 | -7.2% | -3.6% | +11.3% | |
| Q2 2023 | -16.9% | -21.3% | -20.2% | |
| Q1 2023 | +3.8% | +4.4% | -7.8% | |
| Q4 2022 | +17.1% | +14.7% | +15.4% | |
| Q3 2022 | +19.9% | +26.4% | +58.5% | |
| Q2 2022 | +4.7% | +9.0% | -3.0% | |
| Q1 2022 | -5.3% | -17.0% | -10.2% | |
| Q4 2021 | +2.8% | +0.8% | +21.1% | |
| Q3 2021 | +5.9% | +9.0% | +14.0% | |
| Q2 2021 | +16.2% | +19.2% | +10.8% | |
| Q1 2021 | +37.0% | +31.0% | +70.7% | |
| Q4 2020 | +13.4% | +18.2% | +63.2% | |
| Q3 2020 | +7.2% | +9.3% | +13.9% | |
| Q2 2020 | +5.2% | +10.7% | +3.3% | |
| Q1 2020 | +4.3% | -6.6% | +39.6% | |
| Q4 2019 | -24.1% | -30.0% | -59.4% | |
| Q3 2019 | +0.9% | -3.5% | -4.6% | |
| Q2 2019 | +7.2% | +6.6% | +2.9% | |
| Q1 2019 | +0.9% | +0.7% | -2.7% | |
| Q4 2018 | +7.0% | -4.8% | -15.6% | |
| Q3 2018 | +16.8% | +16.8% | +20.7% | |
| Q2 2018 | -2.2% | -1.1% | +4.8% | |
| Q1 2018 | +4.1% | +6.7% | +8.6% | |
| Q4 2017 | -2.2% | +2.1% | -4.6% | |
| Q3 2017 | -5.6% | -2.8% | -1.2% | |
| Q2 2017 | -10.0% | -11.7% | -10.5% | |
| Q1 2017 | +0.9% | -3.2% | -13.2% | |
| Q4 2016 | -1.2% | -2.6% | -5.9% | |
| Q3 2016 | +3.2% | -1.2% | +5.2% | |
| Q2 2016 | -2.7% | +4.0% | +14.5% | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | -7.7% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | +2.8% | — | — | |
| Q4 2014 | +3.9% | — | — | |
| Q3 2014 | -0.5% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q1 2014 | +3.8% | — | — | |
| Q3 2013 | +0.0% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +0.0% | — | — |
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