Glass and windows manufacturer Tecnoglass (NYSE:TGLS) will be reporting earnings this Thursday morning. Here’s what you need to know.
Tecnoglass beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $222.3 million, up 15.4% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EBITDA estimates.
Is Tecnoglass a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tecnoglass’s revenue to grow 11.6% year on year to $245.1 million, a reversal from the 2.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.96 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tecnoglass has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Tecnoglass’s peers in the building materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Armstrong World delivered year-on-year revenue growth of 16.3%, beating analysts’ expectations by 5.2%, and Resideo reported revenues up 22.3%, topping estimates by 6.1%. Armstrong World traded up 12.6% following the results.
Read our full analysis of Armstrong World’s results here and Resideo’s results here.
There has been positive sentiment among investors in the building materials segment, with share prices up 2.1% on average over the last month. Tecnoglass is up 2.2% during the same time and is heading into earnings with an average analyst price target of $92.25 (compared to the current share price of $78.21).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.