Tecnoglass cuts third-quarter net income to $16.7 million after tax correction
TGLS•Tecnoglass increased its third-quarter income tax provision by $6 million to $8.5 million after correcting deferred tax accounting, revising net income to $16.7 million from $22.8 million and diluted earnings per share to $0.38 from $0.51.
1. Tax correction
Tecnoglass said the November 9 correction reflected a valuation allowance on a deferred tax asset related to a capital loss associated with treasury stock. The noncash adjustment had no impact on operating results or cash flows. For the nine months ended September 30, 2026, net income was revised to $73.2 million from $79.2 million.
