Tecnoglass, Inc (NYSE:TGLS) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET

Company Participants

Brad Cray - IR
Jose Manuel Daes - Chief Executive Officer
Chris Daes - Chief Operating Officer
Santiago Giraldo - Chief Financial Officer

Conference Call Participants

Stanley Elliott - Stifel
Sam Darkatsh - Raymond James
Tim Wojs - Baird
Alex Rygiel - B. Riley FBR
Julio Romero - Sidoti and Co.
Jean Ramirez - D. A. Davidson

Operator

Good day, and welcome to the Tecnoglass, Inc. First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please note this event is being recorded.

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

Brad Cray

Thank you for joining us for Tecnoglass's first quarter 2024 conference call. A copy of the slide presentation to accompany this call may be obtained in the Investors section of the Tecnoglass website. Our speakers for today's call are Chief Executive Officer, Jose 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's 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's business. These risks, uncertainties, and contingencies are indicated from time to time in Tecnoglass's filings with the SEC. The information discussed during the call is presented in light of such risks.

Further, investors should keep in mind that Tecnoglass's 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 number 4.

Jose Manuel Daes

Thank you, Brad, and thank you, everyone, for participating on today's call. I am proud of our team's resilience to start off 2024. Despite a challenging macroeconomic environment, we maintained a steady course. We executed against our record multifamily commercial backlog, while navigating end market pressures in a single-family residential sales channel. This resulted in revenues of $192.6 million. Multifamily commercial revenues met our expectations and continues to look healthy, based on continued backlog and pipeline growth in our main markets.