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# Tecnoglass Lifts Sales Forecast To $1.10 Billion–$1.14 Billion Despite Earnings Pressure
- URL: https://www.bullished.co/tecnoglass-lifts-sales-forecast-to-1-10-billion-1-14-billion-despite-earnings-pressure-d7e376d9/
- Published: 2026-11-06T17:01:09.000Z
- Updated: 2026-11-06T17:01:09.000Z
- Description: Record orders support growth, but tariffs, aluminum costs and a stronger Colombian peso cut into quarterly earnings.
- Author: Matteo Parrino
- Tags: Earnings, TGLS, Industry: Materials

Tecnoglass Holdings, which makes windows, doors and architectural glass, [raised its 2026 sales forecast](https://www.benzinga.com/news/26/11/62930288/tecnoglass-q3-2026-earnings-call-transcript?ref=bullished.co) to $1.10 billion–$1.14 billion Thursday while revising its adjusted earnings outlook, according to its [SEC filing](https://www.sec.gov/Archives/edgar/data/0001534675/000149315226050050/form8-k.htm?ref=bullished.co) and accompanying earnings release. Third-quarter sales reached a record [$310.6 million](https://www.sec.gov/Archives/edgar/data/0001534675/000149315226050050/ex99-1.htm?ref=bullished.co), but tariffs, expensive aluminum and a stronger Colombian peso left the company earning less on that larger business.

## More Sales, Thinner Margins

Revenue grew [19.2% as reported](https://www.globenewswire.com/news-release/2026/11/05/3396218/0/en/tecnoglass-reports-third-quarter-2026-results.html?ref=bullished.co), or 18.3% excluding currency changes, against $260.5 million a year earlier. Net income fell from $47.2 million to $22.8 million; diluted earnings per share fell from $1.01 to $0.51\. Adjusted net income also declined, from $46.7 million, or $1.00 per diluted share, to $27.3 million, or $0.61.

Gross margin narrowed to 34.1% from 42.7%. The peso's appreciation accounted for approximately 5.8 percentage points of that decline, including an approximately [$8.4 million](https://www.globenewswire.com/news-release/2026/11/05/3396218/0/en/tecnoglass-reports-third-quarter-2026-results.html?ref=bullished.co) non-cash inventory revaluation. Inventory purchased under a weaker peso carried a higher reported cost when sold under a stronger currency, without a cash impact.

Tariff expenses of approximately $15.5 million helped push selling, general and administrative costs to $74.0 million from $47.3 million. Aluminum bought at earlier peak prices, a greater share of installation revenue and Colombia's annual minimum-wage increase also hurt margins. Higher volumes, May price increases and automation savings partly offset those costs.

Adjusted earnings before interest, taxes, depreciation and amortization—EBITDA—fell to $47.7 million from $79.1 million. The company's adjusted measure still includes the inventory revaluation; excluding it would have added approximately $8.4 million.

## Commercial Projects Lead The Growth

Multifamily and commercial sales rose 30.9% to $192.4 million as booked projects advanced. Single-family residential sales increased 4.1% to $118.1 million, with orders brought forward into the second quarter ahead of May price increases limiting third-quarter growth.

The order book reached a record [$1.43 billion](https://www.benzinga.com/news/26/11/62930288/tecnoglass-q3-2026-earnings-call-transcript?ref=bullished.co), up 13.2% from a year earlier. Christian Daes, Tecnoglass's chief operating officer, said the company continued booking luxury lodging and condominium work and signed its largest project to date after quarter-end.

Most production takes place at the company's 6.1 million-square-foot complex in Barranquilla, Colombia, with distribution and service operations in Florida. The United States accounted for 96% of revenue in 2025, and U.S. residential sales represented 41.0% of total sales that year. A recently opened Los Angeles showroom brings its Legacy Line aluminum windows to the West Coast.

May pricing is beginning to reach single-family invoices. Daes said multifamily and commercial projects booked under the higher prices should begin contributing through shorter-cycle jobs late this year, with larger projects following during 2027.

## Investment Outruns Operating Cash

Quarterly operating cash of approximately $21.5 million was below capital spending of approximately $66.1 million on land, capacity and automation. Spending included the [$23 million land](https://www.sec.gov/Archives/edgar/data/0001534675/000149315226050050/ex99-1.htm?ref=bullished.co) purchase completed in August in St. Lucie County, Florida, for a potential factory.

The feasibility study remains active rather than a construction commitment. Any building would proceed in phases depending on demand, market conditions and returns; secured state, local and utility incentives could improve the project's expected returns if its parameters are met.

Tecnoglass ended the quarter with approximately $380 million of liquidity and $293.6 million of debt. Cash dividends totaled $6.7 million during the quarter, and approximately $92.5 million remained authorized for share repurchases as of September 30.

Management set its annual adjusted EBITDA outlook at $210 million–$220 million, with the revision mainly attributable to the inventory revaluation. Santiago Giraldo, Tecnoglass's chief financial officer, said, “we are committed to fully offsetting the impact of tariffs in 2027, as automation savings and full-year pricing are realized.”

The pricing timetable puts larger commercial projects' contribution to that tariff-offset effort in 2027.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Tecnoglass Holdings Inc. (TGLS)](https://www.sec.gov/Archives/edgar/data/0001534675/000149315226050050/form8-k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit ex99-1.htm — Tecnoglass Holdings Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001534675/000149315226050050/ex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Tecnoglass Q3 2026 Earnings Call Transcript](https://www.benzinga.com/news/26/11/62930288/tecnoglass-q3-2026-earnings-call-transcript?ref=bullished.co) — benzinga.com
- [Tecnoglass Stock Faces Earnings Test As Backlog Growth Meets Cost Pressure](https://finance.yahoo.com/markets/stocks/articles/tecnoglass-stock-faces-earnings-test-100952717.html?ref=bullished.co) — Yahoo Finance
- [Tecnoglass Reports Third Quarter 2026 Results](https://www.globenewswire.com/news-release/2026/11/05/3396218/0/en/tecnoglass-reports-third-quarter-2026-results.html?ref=bullished.co) — globenewswire.com