Tecnoglass Q1 2026 Earnings Report

Tecnoglass EPS Results

• Actual EPS: $0.78
• Consensus EPS: $0.72
• Beat/Miss: Beat by +$0.06
• One Year Ago EPS: $0.92

Tecnoglass Revenue Results

• Actual Revenue: $249.01 million
• Expected Revenue: $243.00 million
• Beat/Miss: Beat by +$6.01 million
• YoY Revenue Growth: +12.00%

Tecnoglass Announcement Details

• Quarter: Q1 2026
• Date: 5/7/2026
• Time: Before Market Opens
• Conference Call Date: Thursday, May 7, 2026
• Conference Call Time: 10:00AM ET

Tecnoglass (NYSE:TGLS), Inc. is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications. The company completed its initial public offering on the New York Stock Exchange in February 2018, a milestone that provided capital to expand manufacturing capacity and diversify its product offerings.

Tecnoglass primarily serves the U.S. market, supplying major homebuilders, glass fabricators and architectural firms across North America. It also distributes products throughout Latin America, the Caribbean and select international markets, leveraging a network of distribution centers and logistics partners to ensure timely delivery and customer support.

Led by a seasoned executive team and board of directors with deep experience in manufacturing, engineering and global trade, Tecnoglass focuses on product innovation, sustainability and operational efficiency. The company holds multiple industry certifications and continues to pursue strategic initiatives aimed at long‐term growth in the global construction sector.

Tecnoglass Q1 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Record backlog and demand momentum — backlog grew 19.1% y/y to $1.36 billion, multifamily/commercial revenues were up 20.4% y/y, and the book-to-bill remained strong at 1.3x, supporting ongoing revenue growth.
• Negative Sentiment: Margins compressed — Q1 Adjusted EBITDA fell to $61.5M (24.7% margin) from $70.2M (31.6%), driven by ~48% higher aluminum costs, a ~12% Colombian peso appreciation, annual salary increases and a one-time wealth tax.
• Positive Sentiment: Active tariff mitigation — following the new 10% Section 232 tariff, Tecnoglass implemented May price increases, secured ~$34M of U.S.-sourced aluminum, added FX hedges and plans efficiency actions, targeting full neutralization of tariff impact by 2027.
• Positive Sentiment: Strong balance sheet and shareholder returns — liquidity of about $425M, net debt/LTM EBITDA ~0.4x, $16.5M in buybacks and $6.7M in dividends in Q1, and management reaffirmed full-year revenue and Adjusted EBITDA guidance.
• Neutral Sentiment: Strategic expansion and optionality — U.S. re-domiciliation expected by mid‑June, continuing vinyl and showroom rollouts, and a potential U.S. facility (land purchase of ~$20–25M) that could increase capacity but carries execution and funding timing risks.

Presentation

[Operator]

Good morning. Welcome to the Tecnoglass Inc. First Quarter 2026 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal our conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Brad Cray, investor relations. Please go ahead.

[Brad Cray, Investor Relations at Tecnoglass]

Thank you for joining us for Tecnoglass' First Quarter 2026 conference call. A copy of the slide presentation to accompany this call may be obtained on the Investors section of the Tecnoglass website. Our speakers for today's call are Chief Executive Officer José Manuel Daes, Chief Operating Officer Christian T. 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.

[Brad Cray, Investor Relations at Tecnoglass]

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 SEC. The information discussed during the call is presented in light of such risks. 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 José Manuel, beginning on slide number 4.

[José Manuel Daes, CEO and Director at Tecnoglass]

Thank you, Brad, and thank you everyone for participating on today's call. We are pleased with how our business performed to start 2026, and more importantly, with our positioning heading into the rest of the year. The demand environment for our products is favorable. Our backlog is at the record level, and order activity across both our commercial and single-family residential businesses continues to build momentum. The fundamentals of what we do, the quality of our products, our vertically integrated model, and our customer relationships are as strong as they have ever been. That underlying momentum is important context for how we view the recent trade policy changes affecting aluminum-containing imports. The trade policy changes do not change our competitive position in the market, and they do not reflect any softening in demand for our products.

[José Manuel Daes, CEO and Director at Tecnoglass]

We have been preparing for and navigating a dynamic cost and trade environment for a handful of years now. We have invested in our supply chain, restructured our sourcing, and built a platform with the flexibility to adapt. Our industry-leading cost structure and vertically integrated model allows us to respond to these changes with more agility than most competitors. We have implemented pricing actions and remain confident in our ability to execute these increases while preserving our competitive position. We are confident in our trajectory because we are not just reacting to macro conditions. We are investing in the long-term growth of the business. Our vinyl expansion and geographic expansion are gaining traction. We are opening new showrooms and entering new geographies. Projects outside of Florida accounted for almost 1/4 of the total backlog as of the end of the first quarter.

[José Manuel Daes, CEO and Director at Tecnoglass]

We are advancing the U.S. re-domiciliation, which will further align our corporate structure with where we operate and invest. We continue to evaluate the potential construction of a new U.S. facility based on the potential returns and market conditions meeting our threshold. If we decide to move forward, this automated facility will expand capacity, improve lead times, and position us for expansion opportunities we do not fully serve today, while expecting to preserve a strong margin profile. We have built Tecnoglass over many years by focusing on product quality, customer service, and operational excellence. Our business generates a strong cash flow, and we remain committed to returning capital to shareholders while investing in growth initiatives that will drive long-term value. We are confident in our ability to deliver on our full year objectives and continue building long-term value for our shareholders.

[José Manuel Daes, CEO and Director at Tecnoglass]

I will now turn the call over to Christian to provide additional operating highlights.

[Christian Daes, COO and Director at Tecnoglass]

Thank you, José Manuel. Moving to slide number 5 and 6. Our backlog grew 19.1% year-over-year to a record $1.36 billion. Multifamily and commercial revenues up 20.4% year-over-year to a record $160.5 million, reflecting consistent execution on an expanding project pipeline and market share gains. Our backlog has grown sequentially every quarter since 2021, and our book-to-bill ratio of 1.3 times extends our track record to 21 consecutive quarters above 1.1 times. We have virtually no project cancellations as we install windows in buildings already well advanced in construction. In recent years, our mix has shifted toward larger, high-end projects such as luxury condominiums and upscale lodging, which are less sensitive to interest rate fluctuations. Our growing geographic diversification also reduces regional concentration risk. Moving to slide number 7.

[Christian Daes, COO and Director at Tecnoglass]

Single-family residential revenues were essentially flat year-over-year in the first quarter, mainly reflecting the timing of invoicing. Demand was better represented by orders, which grew 3.4% year-over-year and 14.1% sequentially, with additional momentum into April. Approximately 65% of our single-family revenues are tied to repair and remodel demand, which is more resilient and less correlated with mortgage rates. This provides a more stable demand base regardless of new construction activity. We see multiple avenues to continue gaining share. Our dealer network has expanded over 20% in the last 12 months. Our vinyl line continues to gain traction with robust quoting activity as evidenced by the highest monthly order level to date in April.

[Christian Daes, COO and Director at Tecnoglass]

Our Los Angeles showroom is on track to open in the coming weeks, bringing our Legacy Lite aluminum window line to the Southwest market and marking our fifth showroom outside of Florida and seventh overall. Turning to slide number 8. Despite a muted residential market, Tecnoglass has consistently outperformed industry benchmarks, with our single-family revenues growing at a roughly 40% organic CAGR since entering the market in 2018. These outperforms comes even as a national residential construction spending and remodeling activity have remained muted during the last couple of years. We are well-positioned to continue outperforming. Our business and geographic penetration strategy is concentrated in regions which are projected to lead residential construction and spending growth in 2026.

[Christian Daes, COO and Director at Tecnoglass]

Combined with our expanding dealer base, new showroom openings, and the ongoing vinyl ramp, this underpins our confidence in achieving double-digit revenue growth guidance, which is well above expected end market growth expectations. I will now turn the call over to Santiago to discuss our financial results and full year outlook.

[Santiago Giraldo, CFO at Tecnoglass]

Thank you, Christian. Turning to the drivers of revenue on slide number 10. Total revenues for the first quarter increased 12% year-over-year to a first quarter record of $249 million. The growth was driven by positive momentum in our multifamily and commercial business, which grew 20.4% year-over-year, reflecting strong execution on our record backlog and market share gains. This was partially offset by roughly flat single-family residential revenues, mainly reflecting the timing of order conversion into revenue, with modest invoicing in January and February, giving away to a strong pickup in March and continued positive momentum into April. Looking at the profit drivers on slide number 11.

[Santiago Giraldo, CFO at Tecnoglass]

Adjusted EBITDA for the first quarter of 2026 was $61.5 million, representing an Adjusted EBITDA margin of 24.7% compared to $70.2 million or 31.6% in the prior year quarter. First quarter gross margin was 38.5% compared to 43.9% in the prior year quarter. The year-over-year decline reflected the continuation of several dynamics that persisted into 2026. An unfavorable revenue mix from a higher proportion of installation revenues in commercial and multifamily elevated U.S. aluminum costs with aluminum LME plus U.S. premium spot rates increasing approximately 48% year-over-year. In a 12% year-over-year appreciation of the Colombian peso farther pressure margin. We also realized higher salary expenses related to the annual salary adjustments at the beginning of the year.

[Santiago Giraldo, CFO at Tecnoglass]

These headwinds were partially offset by stronger pricing and operating leverage on higher volume. SG&A for the 1st quarter was 20.4% of revenue compared to 19.1% of revenue in the prior year quarter. The increase primarily reflected aluminum and reciprocal tariff expenses, higher personnel expense from annual salary adjustments at the beginning of the year, and a stronger peso during the period. Higher transportation and commission expenses associated with revenue growth. We also had a one-time $2.9 million expense related to a government-imposed wealth tax on large companies in Colombia to address a government-declared climate-related emergency. We provide a closer look at the margin dynamics on slide number 12, namely aluminum and FX. With respect to aluminum, it is important to distinguish between two separate dynamics.

[Santiago Giraldo, CFO at Tecnoglass]

The first is the escalation in underlying aluminum cost, which was the primary driver of margin pressure in the first quarter. Global aluminum LME rates and U.S. Midwest premiums reached record highs during the quarter, increasing approximately 48% year-over-year and creating industry-wide cost pressure. The second dynamic is the 10% Section 232 tariff on finished aluminum window imports, which was enacted April 2026 after the close of the first quarter. We are proactively addressing this new tariff through pricing actions effective on early May orders and are advancing additional operational efficiencies, including logistics optimization, increased automation, and headcount rationalization to further mitigate the impact as we move through the year and expect to fully neutralize it in 2027. Looking at the foreign exchange dynamics, the Colombian peso appreciated approximately 12% year-over-year.

[Santiago Giraldo, CFO at Tecnoglass]

Given that approximately 25% of our costs are Colombian peso-denominated, primarily representing labor costs, this appreciation pressured margins, compounded by annual salary adjustments in Colombia at the beginning of the year. On average, a 5% movement in the Colombian peso impacts our gross margins by approximately 110 basis points. To partially mitigate the exposure, we executed additional hedges during the quarter on a portion of our Colombian peso exposure and will continue to be opportunistic in adding incremental coverage throughout 2026. Now, examining our cash flow and balance sheet on slide numbers 13 and 14. First quarter operating cash flow of $6.7 million reflected a strategic decision to secure approximately $34 million of U.S.-sourced aluminum as part of our tariff mitigation and supply chain resilience strategy, which is expected to provide cost benefits in the middle of the year.

[Santiago Giraldo, CFO at Tecnoglass]

Capital expenditures of $17.3 million in the quarter included scheduled payments on previous investments and early investments on additional automation. Our balance sheet remains solid. Total liquidity of approximately $425 million at quarter end, including over $330 million of availability under our revolving credit facilities. We have no significant debt maturities until the end of 2030. With net debt to LTM Adjusted EBITDA approximately 0.4 times, we maintain a conservative leverage profile that provides significant financial flexibility to continue investing in growth and returning capital to shareholders. Our disciplined investments in operational excellence and our vertically integrated platform have consistently delivered superior returns relative to the broader industry, supported by our leading profitability and working capital management. These strengths continue to generate sustainable cash flow and shareholder value while preserving financial flexibility to pursue additional growth opportunities.

[Santiago Giraldo, CFO at Tecnoglass]

Consistent with that approach, we are pleased to have returned substantial capital to shareholders during the first quarter. We repurchased approximately $16.5 million in shares under our $250 million program, with approximately $92.5 million of remaining repurchase capacity as of May 7, 2026, and paid $6.7 million in dividends, returning a combined $23.2 million to shareholders during the quarter. Now, moving to our outlook on slide 16. Our first quarter 2026 performance came in line with our expectations, supported by record revenues, all-time high backlog of $1.36 billion, and positive momentum across both our residential and commercial platforms.

[Santiago Giraldo, CFO at Tecnoglass]

Based on the strength of our top-line results and the visibility provided by our backlog order trends, we are reaffirming our full-year 2026 guidance. We expect revenue in the range of $1.06 billion-$1.13 billion, and Adjusted EBITDA in the range of $225 million-$245 million. This is unchanged from our guidance communicated in April, which incorporated the incremental impact of the recently enacted 10% tariff on finished aluminum window imports into the U.S. With our guidance range, the primary factors remain the timing of project invoicing from our commercial backlog, the pace of residential market recovery, execution in new geographies and vinyl, and the trajectory of aluminum cost and foreign exchange.

[Santiago Giraldo, CFO at Tecnoglass]

The high end of the range assumes a more constructive demand and cost backdrop, while the low end contemplates a more measured recovery and continued pressure from the current aluminum, FX conditions. Importantly, both scenarios assume continued market share gains, strong backlog execution, and disciplined cost management across the business. Our May price increase is expected to begin contributing to results by early July, providing a meaningful mitigation to the tariff headwinds already discussed. As we execute on our pricing and efficiency initiatives throughout the year, we see potential for additional margin expansion as we move through the year and see a clear path to full neutralization of the tariff impact in 2027, when full-year pricing across both businesses and incremental automation savings are expected to fully offset the tariff-related headwinds.

[Santiago Giraldo, CFO at Tecnoglass]

We expect another year of strong cash generation, albeit with more use of working capital, given upcoming tariff payments, strategically secure new aluminum ahead of production times, and longer cash conversion cycles, given the increase in installation work, which has less upfront payments and more retainage. As in years past, the second quarter of the year is expected to have the seasonal impact related to income tax payments for our Colombian-based subsidiaries. Capital expenditures are projected to be in the range of $60 million-$70 million, which includes maintenance CapEx at approximately 1% of revenues, plus plant investments in efficiency initiatives and amortization payments of previous investments. Separately, we expect to invest approximately $20 million-$25 million for the purchase of the land related to the potential new U.S. facility, which we will plan to finance with our available credit facilities.

[Santiago Giraldo, CFO at Tecnoglass]

Executing the land purchase now preserves our optionality as the feasibility study continues, and we have already secured substantial state and local tax credits that would significantly enhance project economics. If we decide to move forward with construction, the project would proceed in phases, with each stage evaluated based on demand trends, return profiles, and overall market conditions. We would only move forward if the project meets our high return thresholds. In conclusion, our results demonstrate the durability of our business model and the strength of our competitive position, even as we navigate a dynamic operating environment. We are executing on a record backlog, gaining share in new and existing geographies, building momentum in vinyl, and taking targeted pricing and operational actions to mitigate tariff headwinds.

[Santiago Giraldo, CFO at Tecnoglass]

With a record backlog, a growing national presence in single-family residential, and a solid balance sheet, we remain confident in our ability to deliver on our full-year objectives and outperform the market for years to come. With that, we will be happy to answer your questions. Operator, please open the line for questions.

[Operator]

We will now begin the question and answer session. To ask a question, you may press star then one on your telephone keypad. If you are using a speaker phone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time we will pause momentarily to assemble our roster. The first question comes from Rohit Seth with B. Riley Securities.

[Rohit Seth, Senior Research Analyst at B. Riley Securities]

Hey, thanks for taking my question. Just on the price increase, are you seeing your competitors also raising prices? What gives you confidence that this is gonna be the take rate from competitors?

[José Manuel Daes, CEO and Director at Tecnoglass]

Yes. Everybody has raised prices because of the increases in aluminum and the increases in glass. All the products that we buy to make the windows are subject to increases due to the oil and gas increases. Everybody has raised prices. Some more than us and a couple a little less than us.

[Rohit Seth, Senior Research Analyst at B. Riley Securities]

Okay. On the aluminum, looks like you built some inventory. I imagine that's the aluminum. How are you positioned now going into the second half on aluminum?

[Santiago Giraldo, CFO at Tecnoglass]

Right now, hey, hi, Seth. we're buying it on the spot. If you kind of listen to what we said a couple of weeks ago when we re-guided, we also baked in the impact of higher than the beginning of the year pricing. Right? At this point in time, we're buying it at spot, even though it has gone up roughly 12% since the beginning of the year. That's already baked into projections.

[Rohit Seth, Senior Research Analyst at B. Riley Securities]

Okay, thank you. I'll pass it on.

[Operator]

Your next question comes from Julio Romero with Sidoti & Co.

[Julio Romero, Senior Equity Research Analyst at Sidoti & Co.]

Thanks. Hey, good morning, guys. Can you guys expand on how, you know, April has trended since you guys have announced price increases and competitors have announced price increases and specifically with regards to customer receptivity and you know, how they're managing through, you know, rising input costs on their end. Are they changing, you know, anything from order size or project scope, both on the residential and the commercial side?

[Santiago Giraldo, CFO at Tecnoglass]

Well, April was extremely strong. As you saw in the press release, obviously, you know, you see some orders of clients anticipating the price increase that took place in May 4th. I think what we'll be telling is how orders continue to trend in May. So far so good. Nothing really, you know, to speak of in terms of dropping demand. April was abnormally high. I mean, we're talking about, you know, 40% more of a normal month. Obviously, some of that is pulled forward of orders that probably would have taken place in May and June.

[Julio Romero, Senior Equity Research Analyst at Sidoti & Co.]

Helpful. Where are you guys on the U.S. re-domiciling? I guess that's expected to close in the second quarter?

[Santiago Giraldo, CFO at Tecnoglass]

Yes. The expectation is that that will be done by mid-June. Proxy cards should be going out for voting likely around mid to end of May. Effectively, we should be re-domiciled if the vote goes through by the middle of June.

[Julio Romero, Senior Equity Research Analyst at Sidoti & Co.]

Excellent. I'll turn it over. Thank you.

[Operator]

Again, if you have a question, please press star then one. Your next question comes from Tim Wojs with Baird.

[Tim Wojs, Senior Research Analyst at Baird]

Hey, guys. Good, good morning. Nice show up.

[José Manuel Daes, CEO and Director at Tecnoglass]

Good morning.

[Tim Wojs, Senior Research Analyst at Baird]

Hey, maybe just to start, I'm just kinda big picture question. Obviously, you know, the tariffs, I think obviously surprised you, surprised the market. You know, you guys obviously still have a pretty meaningful cost advantage even with the tariffs in the marketplace. I'm just kinda curious, as you've talked to, you know, your customers and, these have obviously kinda come into the market, have you noticed any change from your perspective in terms of, you know, share gains or, you know, just kinda incrementally working with customers? I'm just kinda curious if the tariff dynamic has really changed your position in the market at all or not.

[José Manuel Daes, CEO and Director at Tecnoglass]

No, not at all. I mean, everybody has raised their prices, and the raising of the prices came from a local competitor or local competitors before we did it. We follow the trend. We were going to absorb the tariff if nobody else increases the prices to keep competitive and not lose market share. On the contrary, everybody raised their prices, and we have gained market share, and we're gonna keep gaining the market share. Now, as we said on the press release, around 20%-25% of all our sales are outside Florida. That's gonna keep gaining momentum, and we hope in a year, a year and a half from now, 50% of the growth is gonna be outside of Florida. We're doing really good. I mean, our product is great, our service is great, the customers love the performance, so we plan to keep gaining market share for sure.

[Christian Daes, COO and Director at Tecnoglass]

This is Christian. We also plan to make up for the tariffs with more volume and also with cutting costs. We have implemented a program to cost our costs significantly in the next few months, and by the end of the year, we'll be back to the levels of profitability that we had before.

[Tim Wojs, Senior Research Analyst at Baird]

That's really helpful. Thanks, guys. Santiago, I was hoping maybe you could kind of dial in Q2 for us maybe a little bit. You know, just given, you know, obviously the tariffs are going to kind of come into the P&L, and I think typically you do see kind of a step up in revenue just from a seasonality perspective. Any kind of broad kind of comments on how we should think about the model for the second quarter, please?

[Santiago Giraldo, CFO at Tecnoglass]

Yeah. As we had discussed previously, you know, you're gonna have a quarter in which you have the impact of the newly established tariffs, but yet you don't have the impact of the pricing actions that took place in May, right? You're gonna have a step down Q2 just based on the fact that you have the incremental costs associated with tariffs. The offsetting on pricing starts taking place in late June, early July, right? From that perspective, you will see a step down, albeit at a higher revenue base. Essentially, as you saw in the press release. We saw acceleration in terms of revenues and orders in March, and we're seeing that in April as well. We're seeing a step up in revenues.

[Santiago Giraldo, CFO at Tecnoglass]

On the backlog side, obviously we know where we are and, you know, you saw what happened with the Commercial Construction segment growing 20%. We expect that trend somewhat to continue. On the resi side, we did see acceleration at the end of Q1 and in beginning of Q2. From a top-line perspective, we're expecting Q2 to be higher than Q1. You will have the impact, however, of the tariffs not being fully offset by pricing on this quarter. That will be partially offset in Q3 once, you know, orders placed in May start hitting P&L.

[Tim Wojs, Senior Research Analyst at Baird]

Okay. Then mechanically, the tariffs fall, I believe for you in SG&A. Do you actually see gross profit pick up a little bit sequentially and then kinda offset by the higher SG&A, so EBITDA actually goes down?

[Santiago Giraldo, CFO at Tecnoglass]

I think it's gonna be more or less in line. You will have some impact of higher aluminum cost that wasn't pre-bought. Remember that we were expecting aluminum to cover us through May, you're gonna have, you know, aluminum flowing through the P&L at newly spot prices, not at the level that we bought it earlier in the year. I think that probably balances out and we end up with, you know, somewhat similar gross profit margins. If we're able to get more operating leverage on higher sales, maybe a little bit higher. I would say base case, we end up, you know, around the 39% gross margin profile.

[Tim Wojs, Senior Research Analyst at Baird]

Okay. Sounds good, guys. Good luck on the rest of the year. Thanks for all your help.

[Santiago Giraldo, CFO at Tecnoglass]

All right, thanks.

[Operator]

This concludes our question and answer session. I would like to turn the conference over to José Manuel Daes for closing remarks.

[José Manuel Daes, CEO and Director at Tecnoglass]

Well, thanks everybody for participating on today's call. We are doing our best to keep growing and having the best margins in the industry. Wait for the better news. Thank you.

[Operator]

Thank you. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

Participants

Executives

• Brad Cray, Investor Relations
• Christian Daes, COO and Director
• José Manuel Daes, CEO and Director
• Santiago Giraldo, CFO

Analysts

• Julio Romero, Senior Equity Research Analyst at Sidoti & Co.
• Rohit Seth, Senior Research Analyst at B. Riley Securities
• Tim Wojs, Senior Research Analyst at Baird