Tecnoglass Inc. released its third‑quarter 2025 financial results on November 6, 2025, reporting record revenue of $260.5 million, up 9.3% from $239.2 million in the same period last year. Net income stood at $47.2 million, or $1.01 per diluted share, while adjusted EBITDA reached $79.1 million, representing a 30.4% margin. The company’s backlog grew to a record $1.3 billion and total liquidity climbed to $550 million.
Earnings per share fell short of consensus expectations of $1.11, with the company reporting $1.01 diluted and $1.00 adjusted. The miss of $0.10 to $0.11 reflects a $2.3 million decline in adjusted net income compared with the $49.5 million net income reported for Q3 2024. Revenue also missed the consensus estimate of $265.28 million by $4.7 million, a 1.8% shortfall.
Margin contraction was driven by a combination of higher U.S. aluminum costs, a $4.7 million tariff expense, and a stronger Colombian peso that eroded pricing power in the Latin‑American market. Gross margin fell to 42.7% from 45.8% in the prior year, while adjusted EBITDA margin slipped to 30.4% from 34.2% year‑over‑year, underscoring the impact of input‑price inflation and currency headwinds.
Management updated its full‑year outlook, lowering revenue guidance to $970 million–$990 million from a previous $1 billion range and adjusting adjusted EBITDA guidance to $294 million–$304 million. The board also expanded the share‑repurchase authorization to $150 million and announced a $7 million dividend, signaling confidence in cash‑flow generation while preserving capital for future growth initiatives such as the planned automated U.S. manufacturing facility.
Revenue growth was supported by both the single‑family residential and multi‑family/commercial segments, each contributing to the 9.3% year‑over‑year increase. However, the company noted that the growth rate is slower than the 13.1% increase seen in Q3 2024, indicating a deceleration in demand momentum.
CFO Santiago Giraldo explained that the revenue guidance was reduced by $20 million due to slower‑than‑anticipated commercial construction invoicing, with half of the shortfall expected to be absorbed in 2026. He also highlighted that U.S. aluminum premiums rose 65% over the past ninety days, delaying smaller commercial projects. Giraldo added that the company anticipates double‑digit growth in 2026, driven primarily by volume expansion rather than price increases.
The company’s guidance reflects a cautious outlook amid ongoing cost pressures, but the record backlog and liquidity position provide a buffer for strategic investments. Management’s emphasis on cost discipline and the planned automation of U.S. operations suggest a focus on sustaining profitability while pursuing growth opportunities.
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