Tecnoglass Inc. Ordinary Shares

Good day, ladies and gentlemen, and welcome to the Technoglass 3Q 2022 Earnings Conference Call and Webcast. At this time, all participants have been placed on listen-only mode. The floor will be open for questions and comments following the presentation. It is now my pleasure to turn the floor over to your host, Brad Cray of ICR. Sir, the floor is yours.

Thank you for joining us for Technoglass' third quarter 2022 conference call. A copy of the slide presentation to accompany this call may be obtained on the investor section of the TechnoGlass website. Our speakers for today's call are Chief Executive Officer Jose Manuel Diaz, Chief Operating Officer Chris Diaz, and Chief Financial Officer Santiago Geraldo. 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 Technoglass' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may differ in a material way from those expressed or implied by the statements herein, due to changes in economic, business, or competitive and or regulatory factors, and other risks and uncertainties affecting the operation of Technoglass's business. These risks, uncertainties, and contingencies are indicated from time to time in Technoglass'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 Technoglass's financial results in any particular period may not be indicative of future results. Technoglass 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 four.

Thank you, Brad, and thank you, everyone, for participating on today's call. The strong momentum in our business continued into the back half of 2022. I could not be more thrilled with our third quarter performance. Once again, we delivered record results across nearly all financial metrics while operating in a complex macroeconomic environment. Our record results were driven by the focused execution of our entire team to capture market share and further advance our leading position in the architectural glass industry. We are especially happy with the continued strong performance of our single-family residential business. In addition to the acceleration we are seeing in our commercial project invoicing, Our success validates our multi-year effort to diversify our business with new customers, innovative products, and end markets within attractive geographies. During the third quarter, we were especially pleased to achieve a record gross margin in excess of 50%. While this gross margin was well ahead of our normalized level, our performance clearly demonstrates the power of our business. This is made possible by how we can leverage our business as we continue to grow through our previous investments in automation and capacity enhancements, our unique vertically integrated platform, and our strategic market positioning. This gives us confidence that our current targeted investments to further modernize, automate, and expand our operations will enable us to maintain our short lead times, increase revenues, and produce the best returns in the industry. Separately, our diversified revenue mix and exceptional working capital management have helped us generate 11 straight quarters of a strong cash flow. We are carefully allocating cash through multiple avenues to create value. Today, based on ongoing business dynamics and growing backlog, we're very pleased to announce the authorization of a new 50 million share repurchase program as an additional pass to return capital to our shareholders. In summary, we expect to continue executing our highly profitable growth strategy to deliver above-market growth while generating strong cash flows and value for the shareholders. We are proud of our team's execution and the prudent approach we have taken to allocate capital effectively to generate attractive returns. We have a highly efficient, vertically integrated, low-cost operation with an innovative portfolio and in-demand products that leave us well situated to produce another year of record results. In the event that macro pressures intensify in our industry, we believe Technoglass is extremely well positioned to gain market share given our advantageous cost structure and the significant investments underway to make our business even more efficient. I will now turn the call over to Chris to provide additional details on our record backlog.