Tecnoglass Tightens FY2023 Sales Guidance from $830M - $855M to $835M - $848M
Portfolio Pulse from Benzinga Newsdesk
Tecnoglass has revised its FY2023 sales guidance from $830M - $855M to $835M - $848M. The company expects 2023 revenues to grow organically by approximately 17% at the midpoint. The CFO, Santiago Giraldo, stated that the company is performing well in a challenging market with strong Adjusted EBITDA margins and substantial cash flow. The company's backlog of multi-family/commercial projects has accelerated and its single-family residential expansion strategy continues to gain traction.
November 06, 2023 | 12:05 pm
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Tecnoglass has revised its FY2023 sales guidance upwards, indicating strong performance and growth. This could positively impact the company's stock price in the short term.
The upward revision of Tecnoglass's FY2023 sales guidance indicates strong performance and growth, which is likely to be viewed positively by investors. This could lead to an increase in demand for the company's stock, potentially driving up its price in the short term.
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