Tecnoglass(US:TGLS)2022-08-05 19:29Financial Performance Highlights - Q2 2022 organic revenue grew by 39% to a record $169.1 million[9] - Gross profit increased by 50% to a record $73.6 million, with a gross margin of 43.5%[9] - Adjusted EBITDA reached a record $54.6 million, with margins up by 280 bps to 32.3%[9] - Operating cash flow was strong at $35.9 million, leading to a record free cash flow of $18.9 million for the quarter[9] Sales and Backlog - U.S single-family residential sales increased by 86% to a record $75.9 million[9] - Total U.S revenues of $161.5 million grew 47% compared to Q2 2021[31] - Record backlog of $667.9 million, up approximately 19.5% year-over-year, representing about 1.2x LTM total revenues[9] - U.S backlog of $642 million, representing 96% of total backlog[15] Balance Sheet and Leverage - Net debt / LTM adjusted EBITDA ratio decreased to 0.5x, the lowest in the company's history[9] - Liquidity of approximately $270 million, including cash of $98.6 million[39] - Weighted average interest rate decreased to 2.51%[39] Outlook - The company anticipates revenue between $620 million and $640 million, representing a 25-29% year-over-year increase[52] - Adjusted EBITDA is expected to be between $208 million and $220 million, a 38-46% year-over-year increase[52]