Tecnoglass: 2Q Earnings Snapshot
BARRANQUILLA, Colombia (AP) _ Tecnoglass Inc. (TGLS) on Friday reported second-quarter net income of $7.5 million, after reporting a loss in the same period a year earlier.
The Barranquilla, Colombia-based company said it had net income of 17 cents per share. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The architectural glass maker posted revenue of $113.9 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $97.5 million.
Tecnoglass expects full-year revenue in the range of $415 million to $430 million.
Tecnoglass shares have declined 13% since the beginning of the year. The stock has dropped 22% in the last 12 months.