Tecnoglass, Inc. (NYSE:TGLS) Q1 2022 Earnings Conference Call May 4, 2022 9:00 AM ET

Company Participants

Brad Cray - ICR

Christian Daes - COO & Director

José Manuel Daes - CEO & Director

Santiago Giraldo - CFO & Head, IR

Conference Call Participants

Brent Thielman - D.A. Davidson & Co.

Timothy Wojs - Robert W. Baird & Co.

Julio Romero - Sidoti & Company

Operator

Good morning, and welcome to the Tecnoglass Inc. First Quarter 2022 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Brad Cray, investor relations. Please go ahead.

Brad Cray

Thank you for joining us for Tecnoglass First Quarter 2022 Conference Call. A copy of the slide presentation to accompany this call may be obtained on the investor's section of the Tecnoglass website. Our speakers for today's call are Chief Executive Officer, José Manuel Daes; Chief Operating Officer, Chris Daes; and Chief Financial Officer, Santiago Giraldo.

I'd like to remind everyone that matters discussed in this call, except for historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth, and future acquisitions. These statements are based on Tecnoglass' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary in a material nature from those expressed or implied by the statements herein due to changes in economic business, competitive, and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass business.

These risks, uncertainties, and contingencies are indicated from time to time in Tecnoglass filings with the SCC. The information discussed during the call is presented in light of such risk. Further, investors should keep in mind that Tecnoglass' financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to and expressly disclaims any obligation to update or alter its forward looking statements, whether as a result of new information, future events, changes in assumptions, or otherwise.

I will now turn the call over to Jose Manuel, beginning on Slide #4.

José Manuel Daes

Thank you, Brad, and thank you everyone for participating on today's call. We are thrilled to continue our track record of exceptional performance into 2022 as we report yet another quarter of record results. Building from our momentum through 2021, we saw continuing strains across our business in the first quarter, resulting in record total revenues, gross profit, operating profit, adjusted EBITDA, and backlog. This outstanding accomplishment is attributable to the dedication of our team across all levels of our business. We are further solidifying our position as a leader in the architectural glass space. Sales of our cutting edge single-family residential products, which represent the 44% of our first quarter revenues continue to drive our top line growth, increasing by 155% year over year. This was driven by our ability to further expand our relationships with contractors and builders in the single family residential market. We have an incredibly strong footprint in the Southeastern U.S. where secular tailwinds remain strong.