Tecnoglass Inc Down 11.08% To $30.49 After Earnings

Tecnoglass Inc (TGLS) said before open Monday that it broke even in quarter three 2023.

In the same quarter a year ago, the company earned $1.01 per share on revenue of $201.8 million.

The stock is down 11.08% to $30.49 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Tecnoglass Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 59. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Tecnoglass Inc designs, manufactures, distributes, and markets architectural glass and windows. The company's products portfolio includes tempered, laminated, insulating and Solar Control Low-E glass. Its products are installed at hotels, residential buildings, commercial and corporate centers, airports and hospitals as floating facades, curtain walls, windows, doors, handrails, interior and dividers. Its majority of revenue is derived from the sale and installation of architectural glass and windows in the United States.