Tecnoglass | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 260.48 M

LB filings
2025.11.07 21:38
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Revenue: As of FY2025 Q3, the actual value is USD 260.48 M, missing the estimate of USD 264.61 M.

EPS: As of FY2025 Q3, the actual value is USD 1.01, missing the estimate of USD 1.108.

EBIT: As of FY2025 Q3, the actual value is USD 64.82 M, missing the estimate of USD 74.23 M.

Segment Revenue

  • Total Operating Revenues: $260.5 million for the three months ended September 30, 2025, compared to $238.3 million for the same period in 2024. For the nine months ended September 30, 2025, revenues were $738.3 million, compared to $650.6 million in 2024.
  • U.S. Market Revenue: $246.4 million for the three months ended September 30, 2025, compared to $228.2 million for the same period in 2024. For the nine months ended September 30, 2025, revenues were $701.2 million, compared to $621.9 million in 2024.
  • Latin America and Caribbean Revenue: $7.6 million for the three months ended September 30, 2025, compared to $5.5 million for the same period in 2024. For the nine months ended September 30, 2025, revenues were $20.7 million, compared to $16.5 million in 2024.
  • Residential Market Revenue: $113.5 million for the three months ended September 30, 2025, compared to $109.7 million for the same period in 2024. For the nine months ended September 30, 2025, revenues were $312.0 million, compared to $278.6 million in 2024.
  • Commercial Market Revenue: $147.0 million for the three months ended September 30, 2025, compared to $128.6 million for the same period in 2024. For the nine months ended September 30, 2025, revenues were $426.3 million, compared to $372.0 million in 2024.

Operational Metrics

  • Gross Profit: $111.3 million for the three months ended September 30, 2025, compared to $109.2 million for the same period in 2024. For the nine months ended September 30, 2025, gross profit was $323.2 million, compared to $273.5 million in 2024.
  • Gross Profit Margin: 42.7% for the three months ended September 30, 2025, compared to 45.8% for the same period in 2024. For the nine months ended September 30, 2025, gross profit margin was 43.8%, compared to 42.0% in 2024.
  • Operating Income: $65.4 million for the three months ended September 30, 2025, compared to $67.7 million for the same period in 2024. For the nine months ended September 30, 2025, operating income was $185.9 million, compared to $159.9 million in 2024.
  • Net Income: $47.2 million for the three months ended September 30, 2025, compared to $49.5 million for the same period in 2024. For the nine months ended September 30, 2025, net income was $133.5 million, compared to $114.3 million in 2024.
  • Operating Expenses: $47.3 million for the three months ended September 30, 2025, compared to $41.5 million for the same period in 2024. For the nine months ended September 30, 2025, operating expenses were $142.9 million, compared to $113.6 million in 2024.
  • Income Tax Provision: $20.8 million for the three months ended September 30, 2025, compared to $20.0 million for the same period in 2024. For the nine months ended September 30, 2025, income tax provision was $56.6 million, compared to $43.6 million in 2024.

Cash Flow

  • Operating Cash Flow: $104.7 million for the nine months ended September 30, 2025, compared to $109.4 million for the same period in 2024.
  • Investing Cash Flow: -$68.0 million for the nine months ended September 30, 2025, compared to -$51.5 million for the same period in 2024.
  • Financing Cash Flow: -$50.6 million for the nine months ended September 30, 2025, compared to -$63.4 million for the same period in 2024.

Unique Metrics

  • Contract Assets and Liabilities: Net contract liability of -$92.4 million as of September 30, 2025, compared to -$59.9 million as of December 31, 2024.
  • Goodwill: $30.1 million as of September 30, 2025, compared to $23.6 million as of December 31, 2024.
  • Intangible Assets: $13.2 million as of September 30, 2025, compared to $4.4 million as of December 31, 2024.

Future Outlook and Strategy

  • Core Business Focus: Tecnoglass Inc. aims to continue its growth in the U.S. market, particularly in the commercial and residential sectors, leveraging its strong project backlog and expanding its manufacturing and distribution footprint in the U.S. through acquisitions like Continental Glass Systems, LLC.
  • Non-Core Business: The company is also focusing on expanding its presence in Latin America and the Caribbean, as well as exploring new product segments such as vinyl windows to drive additional organic growth.
  • Priority: The company plans to invest in further automating its glass and window assembly production lines, expanding its aluminum facilities, and increasing its manufacturing capacity to approximately $1.3 billion, excluding incremental installation revenue capacity.
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