Tecnoglass (TGLS) Tops Q1 EPS by 4c, Miss on Revenues; Offers FY17 Revenue Guidance

Tecnoglass (NASDAQ: TGLS) reported Q1 EPS of $0.15, $0.04 better than the analyst estimate of $0.11. Revenue for the quarter came in at $65.8 million versus the consensus estimate of $67.46 million.

GUIDANCE:

Tecnoglass sees FY2017 revenue of $360-390 million, versus the consensus of $368.2 million.

Full Year 2017 Outlook

For the full year 2017, the Company continues to expect revenues to grow to a range of $360 million to $390 million compared to $305 million in the prior year. The Company continues to expect Adjusted EBITDA(1) to increase to a range of $82 million to $90 million, mainly as a result of higher revenues, which are expected to grow sequentially over the remainder of the year.

First Quarter 2017 Highlights

• Total revenues of $65.8 million
• Net income of $1.0 million
• Adjusted EBITDA(1) of $13.7 million
• Enhanced vertical integration through acquisition of Giovanni Monti and Partners Consulting and Glazing Contractors, Inc. ("GM&P"), a Florida-based commercial consulting, glazing and engineering company, specializing in windows and doors for commercial contractors. Opened branch in West Coast to service new market opportunities
• Initiated first phase of 12 megawatt solar panel installation project at manufacturing facility in Barranquilla, Colombia, which is expected to provide energy cost and tax savings
• Opened sales branch in Pordenone, Italy to serve the Company's newly started operations in the Europe and Middle East regions

For earnings history and earnings-related data on Tecnoglass (TGLS) click here.

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