Why Glass Fabricator Tecnoglass' Shares Are Losing Its Charm Today
Portfolio Pulse from Lekha Gupta
Tecnoglass Inc (NYSE:TGLS) reported Q3 FY23 results with revenue growth of 4.4% Y/Y to $210.7 million, beating the consensus of $207.6 million. However, gross profit fell to $90.5 million from $105.3 million a year ago, and adjusted EBITDA declined to $71.3 million from $78.5 million the prior year. The company tightened its full-year sales outlook and revised the adjusted EBITDA outlook downwards. TGLS shares are trading lower after the announcement.
November 06, 2023 | 2:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tecnoglass reported Q3 FY23 results with revenue growth but lower gross profit and EBITDA. The company tightened its full-year sales outlook and revised the adjusted EBITDA outlook downwards, leading to a drop in its share price.
Tecnoglass reported a revenue growth but a decline in gross profit and EBITDA, which are key indicators of a company's financial health. The company also tightened its full-year sales outlook and revised the adjusted EBITDA outlook downwards, indicating potential challenges ahead. These factors are likely to have contributed to the drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100