Tecnoglass, Inc. (TGLS) CEO Jose Daes on Q4 2021 Results – Earnings Call Transcript
Date: March 3
Greetings and welcome to Tecnoglass, Inc. Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Brad Cray, Investor Relations. Thank you. You may begin.
Jose Manuel Daes
Thank you, Brad and thank you everyone for participating on today’s call. I am excited to disclose our exceptional fourth quarter and full year results, which reflect the focus execution of the Tecnoglass team across all areas of our business.
During the fourth quarter, we further advanced our leading industry position to produce yet another quarter of record results across nearly all operating metrics. This allowed us to achieve the most profitable highest cash flow year in Tecnoglass history. Our strong growth continues to be largely driven by outperformance in the sales of our innovative single-family residential products.
Single-family sales rose over 140% year-over-year in the fourth quarter, and for the year, our single-family sales increased over 150%. This impressive performance in residential has been supported by a combination of our penetration into the attractive southeast US region and our track record of excellent customer service, including our ability to deliver products with lead times well below industry average, despite the supply constraints impacting our industry.