| Over a week ago | ||||
DA Davidson analyst Brent… DA Davidson analyst Brent Thielman raised the firm's price target on Tecnoglass to $14 from $12 and keeps a Buy rating on the shares after holding talks with its CFO Santiago Giraldo. The company is seeing significant growth opportunities in the south east - particularly in Florida - experiencing "strong" capture in its housing product lines while maintaining its historical cost advantage, superior margins, and a strong balance sheet, the analyst tells investors in a research note. | ||||
B. Riley Securities… B. Riley Securities analyst Alex Rygiel raised the firm's price target on Tecnoglass to $14 from $9 and reiterates a Buy rating on the shares. The analyst believes housing demand in Florida is "very strong" and bodes well for Tecnoglass given that he estimates the market represents 80% of its sales. Further, the company continues to have attractive cost and lead-time advantages relative to its peers that could continue to offer opportunities to gain market share in underpenetrated geographies, Rygiel tells investors in a research note. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 23 hosted by DA Davidson. | ||||
| Over a month ago | ||||
Tecnoglass hosted the… Tecnoglass hosted the President of Colombia, Ivan Duque Marquez, at the Company's manufacturing facilities during the Inter-American Development Bank Annual Meeting held in Barranquilla, Colombia. The President was accompanied by the COO of Tecnoglass, Christian Daes, the Attorney General of the Republic Margarita Cabello, Comptroller General of the Republic Carlos Felipe Cordoba, Minister of Information and Communication Technologies Karen Abudinen, Minister of Industry, Trade and Tourism Jose Manuel Restrepo, Minister of Justice Wilson Ruiz, Presidential Advisor for the Regions Ana Maria Palau, Governor of Atlantico Elsa Noguera, and IDB Representatives Ignacio Corlazzoli and Tomas Bermudez. President of Colombia, Ivan Duque stated, "Tecnoglass is an example of excellence which has been shown in the way it has been able to penetrate a very strict and high-quality US architectural glass market. We are proud and encouraged by its growth trajectory and by how it has become a standard for a Company that manufactures high quality, high value-added products and that has become an international leader in the industry. We are also proud about its efforts to help its employees and surrounding communities during a very difficult period. We want to take advantage of this IDB assembly to help grow foreign investment into Colombia; our country is in an advantageous location to create products to export into many different markets; and we have some of the best labor force in the region." The President highlighted the Company's evolution into a highly technological operation with value-added components that have allowed it to penetrate the U.S market, becoming one of the largest companies in the industry. He also highlighted the Company's leading role in seeking a sustainable and socially responsible operation, consistently investing in energy efficiency through its products and its own operation. Additionally, Mr. Duque emphasized the Company's role in supporting regional communities by becoming one of the largest employers in the region and by providing medical and food supplies during the pandemic while keeping its labor force employed during this challenging time. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 23 hosted by DA Davidson. | ||||
B. Riley Securities… B. Riley Securities analyst Alex Rygiel raised the firm's price target on Tecnoglass to $9 from $8 and reiterates a Buy rating on the shares following the "solid" Q4 results. The analyst believes the company is well positioned to capture market share as it benefits from "strong" U.S. residential housing trends. | |
Santiago Giraldo, Chief… Santiago Giraldo, Chief Financial Officer of Tecnoglass, stated, "Our positive momentum continued into the first quarter, with single-family residential representing a growing share of our revenues. Based on our current invoicing schedule and underlying market demand, we are introducing our full year 2021 outlook for revenue to grow to a range of $400 million to $415 million. In addition, we anticipate full year Adjusted EBITDA to grow to a range of $100 million to $110 million, implying growth of approximately 7% at the midpoint, driven by higher revenues, partly offset by higher unit costs for raw materials and a more normalized revenue mix. We expect the stronger demand in the U.S. to continue to offset the slower recovery in Latin American markets. Furthermore, we anticipate our track record of strong cash flow generation to continue in the full year 2021." | |
Reports Q4 revenue… Reports Q4 revenue $102.4M, consensus $100.34M. Jose Manuel Daes, Chief Executive Officer of Tecnoglass, commented, "2020 was a milestone year for Tecnoglass. Our exceptional results reflect the resilience and dedication of our team as we capitalized on strong residential macro tailwinds and recovering commercial end market conditions to post our second straight quarter of growth in the U.S. Additionally, we delivered on our goal to produce strong returns on our previously implemented automation and capacity investments, contributing to record full year gross profit and Adjusted EBITDA levels, both on a dollar basis and as a percentage of sales. Just as important, our success is translating into a step-change in cash generation, with our operating cash flow representing over 70% of Adjusted EBITDA in 2020. We were thrilled to exit the year with a much stronger and leaner company, underpinned by a significantly improved capital position to further extend our leadership in the architectural glass industry. We will continue to leverage Tecnoglass' structural competitive advantages to maintain industry leading margins while capturing additional market share in the U.S. We are well situated to achieve another year of stellar financial performance and returns for our shareholders in 2021." |
| Over a quarter ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on December 15 hosted by DA Davidson. | ||||
Virtual Meeting to be… Virtual Meeting to be held on December 15 hosted by DA Davidson. | ||||