Tecnoglass Reports Record First Quarter 2025 Results

Tecnoglass, Inc., a leading producer of high-end aluminum and vinyl windows and architectural glass for the global residential and commercial end markets, has released its financial results for the first quarter ended March 31, 2025. The company reported significant growth across various financial metrics, driven by strong performance in both residential and multi-family/commercial projects.

Financial Highlights

For the first quarter of 2025, Tecnoglass achieved record revenue of $222.3 million, marking a 15.4% increase year-over-year. The company's net income rose to $42.2 million, or $0.90 per diluted share, compared to $29.7 million, or $0.63 per diluted share, in the prior year quarter. Adjusted net income was $43.1 million, or $0.92 per diluted share. The gross margin improved by 510 basis points to 43.9%, and adjusted EBITDA increased by 37.5% to $70.2 million, representing 31.6% of total revenues.

Business and Operational Highlights

The company's single-family residential revenue reached a first-quarter record of $88.9 million, up 21.6% year-over-year. Multi-family/commercial revenues grew by 11.6% year-over-year. Tecnoglass also reported a strong free cash flow of $28.8 million and an all-time high cash position of $157.3 million. The backlog expanded by 24.9% year-over-year to a record $1.14 billion.

Strategic Initiatives and Corporate Developments

In April 2025, Tecnoglass acquired Continental Glass Systems, a premier provider of architectural glass and glazing solutions, for approximately $30 million. This acquisition is expected to diversify production into the U.S. and create synergies with Tecnoglass' existing operations. The company also launched a feasibility analysis to develop automated manufacturing capabilities in the U.S. over the coming years.

Management's Perspective

José Manuel Daes, Chief Executive Officer of Tecnoglass, highlighted the company's exceptional start to 2025, driven by double-digit growth in both residential and multi-family/commercial businesses. He emphasized the benefits of the acquisition of Continental Glass Systems and the company's strong cash position. Christian Daes, Chief Operating Officer, noted the record performance and the company's ability to mitigate potential impacts from aluminum tariffs through strategic pricing and supply chain adjustments.

Future Outlook

Santiago Giraldo, Chief Financial Officer, provided an updated full-year 2025 guidance, with expected revenues in the range of $960 million to $1.02 billion and adjusted EBITDA between $305 million and $330 million. The company remains confident in its ability to deliver another year of profitable growth and strong cash flow generation.

SEC Filing: Tecnoglass Inc. [ TGLS ] - 8-K - May. 08, 2025