Tecnoglass Q2 revenue $219.7M (-2.5% YoY); net income $35.0M; adj. EBITDA $64.1M; backlog record $1.02B

Tecnoglass Inc.

2024-Q2 EPS reported $1.38 revenue$412,281,000

Revenue $219.7M (-2.5% YoY); single-family residential hit record $95.7M (+10.1%).
Net income $35.0M ($0.75 EPS) vs $52.6M ($1.10); adjusted net income $40.5M ($0.86).
Adjusted EBITDA $64.1M (29.2% margin) vs $85.0M (37.7%); gross margin 40.8% vs 48.7%, impacted by FX.
Backlog grew 29% YoY to record $1.02B; net leverage 0.06x; operating cash flow $34.5M.
Full-year 2024 outlook raised: revenue $860-910M, adjusted EBITDA $260-285M.

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