Consensus $694.34M. Based on financial performance through November 2022, the Company is increasing its full year 2022 outlook, with its expectation for Adjusted EBITDA in the range of $255 million to $260 million, representing organic growth of 43% and 72% at the midpoints, respectively, compared to the full year 2021. Santiago Giraldo, Chief Financial Officer of Tecnoglass, stated, "We continue to be very excited about the Company’s performance and our ability to leverage our structural competitive advantages to continue gaining market share. Demand for our high-performance architectural glass, window and aluminum products remains strong as ever. Our sales teams are successfully capitalizing on strengthening commercial activity and driving share gains through the expansion of our single-family residential business. We continue to expect full year gross margin to be in the mid-to-high 40% range, demonstrating strong operating leverage on our structural advantages, vertically integrated operations and high-return capex initiatives. We look forward to delivering a fifth straight year of record Adjusted EBITDA1, representing year-on-year organic growth of 72% at the midpoint, and exceptional cash flow. Based on our consistent execution and our solid demand pipeline, we are poised to enter 2023 in a premier position within our industry to advance our profitable growth strategy and continue to deliver solid returns."
Published first on TheFly
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