Tecnoglass Reports Third Quarter 2019 Results
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Tecnoglass (TGLS) Misses Q3 EPS by 2c, Revenues Beat; Raises FY19 Revenue Guidance Above Consensus
November 6, 2019 7:09 AM ESTTecnoglass (NASDAQ: TGLS) reported Q3 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $108.5 million versus the consensus estimate of $102.99 million.
Third Quarter 2019 Highlights
Total revenues increased 12% to $108.5 million, with the U.S. representing 86% of revenuesNet loss of $1.3 million, or ($0.03) per diluted share, including non-cash FX losses during the periodAdjusted net income of $8.3 million, or $0.18 per diluted shareAdjusted EBITDA1 increased 5% to $24.0 millionBacklog expanded to a record $532 million; up 5% year-over-year and 1.1% quarter-over-quarterCompleted aluminum production capacity expansion; remaining high-return automation... More