Tecnoglass(US:TGLS)2021-05-08 02:59Financial Performance - Total revenues increased by 27% to a record $110.9 million in Q1 2021, driven by strong U S growth[9, 37] - Gross margin improved by 590 bps year-over-year to a record 40.7%[9] - Adjusted EBITDA reached $33.5 million, with a 690 bps margin improvement to 30.2%[9] - Adjusted net income was $16.8 million, or $0.35 per diluted share[9] U S Market Growth - U S revenues reached a record $100.8 million, representing 91% of total revenues[9] - Single-family residential revenues increased by 71% year-over-year, while commercial revenues increased by 19% year-over-year[9] - U S backlog of $498 million, representing 90% of total backlog[16] Backlog and Outlook - Backlog increased by 1.1% year-over-year to a record $552 million[9, 16] - The company anticipates revenue between $420 million and $435 million in 2021, representing a 12-16% year-over-year growth[47] Balance Sheet and Leverage - Cash flow from operations was $29 million, marking four straight quarters of exceptional cash generation[9] - Net debt / LTM adjusted EBITDA decreased to 1.4x, the lowest since 2015[9]