Tecnoglass Inc · Q4 2022 earnings

Briefing

Tecnoglass had record revenues, gross margin, operating margin, net income, adjusted net income, adjusted EPS, and operating & free cash flows.

Tecnoglass reported record fourth-quarter results, with revenues up by 60.2% to $211.1 million and Adjusted EBITDA increasing by 107% to $87.2 million. The company's backlog expanded by 24% year-over-year, reaching an all-time high of $725.2 million. They are introducing FY 2023 growth outlook for Adjusted EBITDA of $300 million to $320 million on total revenues of $790 million to $830 million.

• Revenues increased by 60.2% to $211.1 million compared to the prior year quarter.
• Gross profit nearly doubled to $110.2 million, representing a 52.2% gross margin.
• Net income was $55.1 million, or $1.16 per diluted share, compared to $19.8 million, or $0.42 per diluted share, in the prior year quarter.
• Adjusted EBITDA more than doubled to $87.2 million, or 41.3% of total revenues.

Headline financials

Revenue & EPS history

Tecnoglass introduces its full year 2023 outlook for revenues to grow organically to a range of $790 million to $830 million and for Adjusted EBITDA to increase to a range of $300 million to $320 million.