Tecnoglass Inc. Ordinary Shares

Good morning and welcome to the TechnoGlass third quarter 2024 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a 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.

Thank you for joining us for Technoglass' third quarter 2024 conference call. A copy of the slide presentation to accompany this call may be obtained on the Investors section of the Technoglass website. Our speakers for today's call are Chief Executive Officer Jose Manuel Diaz, Chief Operating Officer Chris Dias, 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 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 Technoglass' business. These risks, uncertainties, and contingencies are indicated from time to time in Technoglass' 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' 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, and 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. We are proud to report another quarter of exceptional results that showcase our ability to consistently outperform in our markets. Our third quarter performance included record revenues of $238.3 billion, achieved entirely through organic growth. This impressive performance demonstrates our continued success in capturing market share, especially in regions that are doing better than the broader U.S. market. Our vertically integrated business model remains a key differentiator, allowing us to effectuate the strong cost controls and quickly adapt to evolving market dynamics. In our single-family residential business, revenues reach a new quarterly record of $109.7 million. representing robust growth of 25% year-over-year. This strong performance reflects both stabilizing market conditions and growing demand for our innovative product portfolio. Our multifamily and commercial business delivered revenue growth of 4.6% year-over-year to 128.6 million. marking our second highest revenue quarter for this sector. This momentum has carried into the fourth quarter, with October achieving record monthly invoicing for the company as a whole. We maintain a positive outlook for our multifamily and commercial business, supported by our record backlog and robust quoting and bidding activities. Our strategic investments in automation and advanced manufacturing continue to generate substantial returns. We have a strong year-over-year growth in both gross profit and adjusted EBITDA. These results show our ability to maintain industry-leading margins while growing the business. We remain confident in our ability to sustain leading profitability through enhanced operational efficiency and the benefit of relatively stable exchange rates over the past year. Our strong financial position provides significant flexibility to pursue growth initiatives while returning capital to shareholders. We generated a strong operating cash flow of $41.5 million this quarter. This was driven by growth in our shorter cash cycle residential business and disciplined working capital management. This thorny cash generation fortified our board's decision to announce today a 36% increase in dividend to $0.15 per share. In conclusion, we are strategically positioned to capitalize on the substantial growth opportunities we see across both our residential and commercial markets. Our record backlog, which extends well into 2026, demonstrates the strong demand for our products and validates our market leadership. This visibility, combined with our operational excellence and innovative product portfolio, gives us the confidence in our ability to continue delivering above-market growth and industry-leading margins. The strong momentum in our project pipeline continues into October, which saw record invoicing. This supports our strengthened outlook for 2024 and reinforces our long-term growth trajectory. With a vertically integrated model, robust balance sheet, and proven amenities to execute, we believe Tecnoglass is uniquely positioned to create lasting value for our shareholders. I will now turn the call over to Chris to provide additional operating highlights.