Tecnoglass(US:TGLS)2026-02-26 12:05Financial Performance - Full year revenues increased 10.5% to a record $983.6 million, driven by market share gains and geographical expansion [1] - Full year net income was $159.6 million, or $3.42 per diluted share, with adjusted net income of $167.0 million, or $3.58 per diluted share [1] - Full year adjusted EBITDA was $291.3 million, representing 29.6% of total revenues [1] - Fourth quarter revenues increased 2.4% to a record $245.3 million, with multi-family/commercial revenues growing 5.3% year-over-year [5] - Fourth quarter net income was $26.1 million, or $0.57 per diluted share, compared to $47.0 million, or $1.00 per diluted share, in the prior year quarter [8] - Adjusted EBITDA for the fourth quarter was $62.2 million, or 25.4% of total revenues [10] - Total operating revenues for the year ended December 31, 2025, reached $983.6 million, a 10.5% increase from $890.2 million in 2024 [29] - Gross profit for the year ended December 31, 2025, was $421.4 million, compared to $380.0 million in 2024, reflecting an increase of 10.7% [29] - Net income for the year ended December 31, 2025, was $159.6 million, slightly down from $161.3 million in 2024, representing a decrease of 1.1% [29] - Total revenues for the three months ended December 31, 2025, increased by 2.4% to $245,297,000 compared to $239,573,000 in the same period of 2024 [33] - For the twelve months ended December 31, 2025, total revenues rose by 10.5% to $983,610,000 from $890,180,000 in 2024 [33] Cash Flow and Liquidity - Cash provided by operating activities for the year ended December 31, 2025, was $135.8 million, compared to $170.5 million in 2024, indicating a decrease of 20.4% [31] - Cash and cash equivalents at the end of the period were $100.9 million, down from $134.9 million in 2024, a decrease of 25.2% [31] - Free cash flow for the three months ended December 31, 2025, was $11,442,000, a decrease from $35,437,000 in the same period of 2024 [42] - Cash provided by operating activities for the twelve months ended December 31, 2025, was $135,755,000, down from $170,532,000 in 2024 [42] Debt and Liabilities - Total current liabilities rose to $351.7 million in 2025, compared to $265.8 million in 2024, an increase of 32.3% [27] - Long-term debt increased to $171.2 million in 2025 from $108.2 million in 2024, reflecting a rise of 58.2% [27] - Total liquidity at year-end 2025 was approximately $465.0 million, with net leverage remaining low at 0.24x [16] Shareholder Actions - The company repurchased $118.0 million in shares during 2025, equating to approximately 5% of shares outstanding at the beginning of the year [2] Future Outlook - Full year 2026 revenue outlook is projected to be between $1.06 billion and $1.13 billion, representing approximately 11% growth at the midpoint [19] Backlog and Market Performance - The backlog expanded 16.1% year-over-year to a record $1.3 billion [1] - Revenue from the United States for the twelve months increased by 9.8% to $932,930,000, while revenue from Colombia surged by 26.6% to $31,691,000 [33] Non-Recurring Expenses - The company incurred non-recurring expenses of $4,982,000 for the three months ended December 31, 2025 [38]