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Tecnoglass Inc. (TGLS) is a leading manufacturer and distributor of high-quality architectural glass and windows. Founded on April 18, 1994, the company began operations by producing tempered, laminated, insulated glass, and specialty products like bulletproof glazing and curved glass. Over the years, Tecnoglass has expanded its offerings to include Solar Control Low-E glass, catering to the growing demands for energy-efficient solutions.
The company's diverse portfolio is designed for installation in various structures, including hotels, residential buildings, commercial and corporate centers, airports, and hospitals. Tecnoglass products are used in floating facades, curtain walls, windows, doors, handrails, and interior dividers, highlighting their versatility and quality.
Tecnoglass Inc. generates the majority of its revenue from sales and installations in the United States, reflecting its strong market presence and demand for its premium products. The company is committed to competitive pricing, timely deliveries, and maintaining high standards of production quality.
In recent financial updates, Tecnoglass reported an adjusted net income and adjusted EBITDA, highlighting its stable financial condition. The company continually adapts to currency impacts by translating revenues at prevailing average foreign currency rates, ensuring accurate financial reporting and planning.
Recent Achievements and Partnerships:
- Continuous product innovation and expansion into new markets.
- Strong strategic partnerships enhancing product offerings and market reach.
- Commitment to sustainability and energy efficiency with Solar Control Low-E glass.
Tecnoglass Inc. remains a pivotal player in the architectural glass and window industry, driven by its dedication to quality, innovation, and customer satisfaction.
Tecnoglass (NASDAQ: TGLS) announced the formation of a Special Committee of independent directors to investigate issues raised in a recent short seller report from December 9, 2021. The committee, supported by Covington & Burling LLP and a major accounting firm, aims to address the allegations while asserting the company’s commitment to ethical practices. Tecnoglass also reaffirmed its optimistic outlook for full-year 2021, projecting revenues between $490 million to $495 million and adjusted EBITDA of $147 million to $150 million, bolstered by strong cash flow of approximately $100 million year-to-date through November 2021.
Tecnoglass (TGLS) reported a strong financial outlook for 2021, achieving revenues of approximately $456 million and an Adjusted EBITDA of around $140 million through November. The company has increased its full-year projections, expecting revenues between $490 million and $495 million, and EBITDA between $147 million and $150 million. Tecnoglass dismissed a recent short seller report as inaccurate and noted ongoing support from stakeholders, reinforcing its commitment to a growth strategy and a quarterly cash dividend increase of 136%.
Tecnoglass (NASDAQ: TGLS) announced a 136% increase in its quarterly cash dividend, raising it to $0.065 per share, effective January 31, 2022. This adjustment reflects a shift from the previous rate of $0.0275 per share, amounting to an annualized $0.26 compared to $0.11 prior. The company's CFO highlighted strong free cash flow generation, a completed growth capital expenditure phase, and a robust order backlog, all contributing to this decision.
Tecnoglass (TGLS) has amended its senior secured revolving credit facility, increasing borrowing capacity from $50 million to $150 million and reducing interest costs from 3.25% to 1.90%. This refinancing is expected to save approximately $3 million annually in interest expenses, contributing to total savings of around $15 million since 2020. The company maintains its outstanding debt levels and its net debt to adjusted EBITDA ratio at an all-time low. The facility amendment extends the maturity date to the end of 2026, emphasizing the company’s strong liquidity and financial flexibility.
Tecnoglass (NASDAQ: TGLS) reported robust third-quarter results for 2021, with total revenues climbing 26% year-over-year to a record $130.4 million. Key highlights include a 213% revenue increase in single-family residential activities, contributing to 48% of U.S. revenues. Net income reached $20.9 million, or $0.44 per diluted share, while adjusted EBITDA surged 36.1% to $38.7 million. The company also reported record cash flow from operations at $32.6 million and expanded its backlog to $576 million. Tecnoglass raised its full-year revenue and adjusted EBITDA outlook, projecting revenues between $485 million and $495 million.
Tecnoglass (NASDAQ: TGLS) announced its participation in the Baird 51st Annual Global Industrial Conference, scheduled for November 11, 2021. A leading manufacturer of architectural glass, windows, and aluminum products, Tecnoglass serves both residential and commercial markets globally. The company, based in Barranquilla, Colombia, is the second-largest glass fabricator in the U.S. and the top architectural glass transformation company in Latin America. Over 90% of its revenue comes from the U.S., with products featured in notable buildings across major cities.
Tecnoglass, a major manufacturer of architectural glass and aluminum products, will announce its third quarter 2021 financial results on November 8, 2021, before the market opens. A conference call will be held the same day at 10:00 a.m. ET to discuss the results. Tecnoglass serves over 1,000 global customers, with more than 90% of its revenues coming from the U.S. The company is based in Barranquilla, Colombia, and is a leading glass fabricator in Latin America.
Tecnoglass (NASDAQ: TGLS), a leading manufacturer of architectural glass and aluminum products, will participate in two virtual investor conferences: the D.A. Davidson 20th Annual Diversified Industrials & Services Virtual Conference on September 22, 2021, and the Sidoti Fall Virtual Investor Conference on September 23, 2021. Tecnoglass will present on September 23 at 10:00 a.m. ET, with a live broadcast available on their website. The company, based in Barranquilla, Colombia, serves over 1,000 global customers, primarily in the U.S.
Tecnoglass (NASDAQ: TGLS) has declared a quarterly cash dividend of $0.0275 per share, equating to $0.11 annually, for Q3 2021. The payment is scheduled for October 29, 2021, to shareholders recorded by September 30, 2021. Tecnoglass is a leading manufacturer of architectural glass and aluminum products, serving primarily the U.S. market, which composes over 90% of its revenue. The company's manufacturing complex in Barranquilla, Colombia, spans 2.7 million square feet, catering to over 1,000 customers globally.
Tecnoglass (NASDAQ: TGLS) announced its participation in the Raymond James 2021 Diversified Industrials Conference, set for August 24, 2021. The company, based in Barranquilla, Colombia, is a major manufacturer of architectural glass and windows, serving both residential and commercial markets. As the #1 architectural glass transformation company in Latin America and the second largest glass fabricator in the U.S., Tecnoglass caters to over 1,000 global customers, with over 90% of revenues coming from the U.S. The firm is known for its high-end products featured in several iconic buildings.
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