Glass and windows manufacturer Tecnoglass (NYSE:TGLS) will be announcing earnings results tomorrow before the bell. Here's what you need to know.
Tecnoglass met analysts' revenue expectations last quarter, reporting revenues of $192.6 million, down 4.9% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is Tecnoglass a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Tecnoglass's revenue to decline 2.7% year on year to $219.3 million, a reversal from the 33.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.83 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tecnoglass has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 6.1% on average.
Looking at Tecnoglass's peers in the building materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UFP's revenues decreased 6.9% year on year, beating analysts' expectations by 1.6%, and Carlisle reported revenues up 11%, in line with consensus estimates. UFP traded up 3.8% following the results while Carlisle's stock price was unchanged.
Read our full analysis of UFP's results here and Carlisle's results here.
Investors in the building materials segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Tecnoglass is down 3% during the same time and is heading into earnings with an average analyst price target of $59.3 (compared to the current share price of $49.94).
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