Christian. you, Thank
of reflects ongoing organic had and strength commercial our in in the and Turning residential strong to model. growth both year-over-year first very our the businesses. Slide resilience our a single-family #X, exceptional business quarter We performance
We’re innovative better José for Christian and capture our platform benefits products and footprint. executing our to demand to Manuel tailwinds and our diversified on increasingly than given our unique advantage the remain vertically-integrated relationships the deepening growth ever across positioned provided by strategy take of customer highlight,
organically the XX% representing quarter, of Single-family revenue. year-over-year U.S. residential revenues grew first XX% in now our
much glass has revenues family two-third family approximately is and of mortgage rate attractive remained fluctuations. result our is and of residential and and lead Our direct relatively continued single superior products to at ability tied resilient It markets an our shorter important times remodeling our in to single have with our reiterate historically a also with products deliver demand, value. growth quality in architectural to which for repair local interest are relation that
As just we new to upside the the of Christian our look geographic expansion geographies. Southeast those base, opening additional such ahead, of and in introduction revenues and dealer key share single-family within innovative see showrooms market as expanding discussed, South new the products, we through Central U.S.,
of significant Additionally, population we continue have into exposure. migration U.S. where favorable trends we see demographic the Southern to
would important and to #X, driving reiterate Slide industry like on I aspects the differentiating Now outperformance. our leadership
power the aluminum tight operations supporting on in cost and three, two, an our number our supply capacity our hedging number businesses costs quality factors choice specifically, one, that located through investments glass X% number retain strategically our previously implemented and upgrades; through high-return and talent under keeping ongoing model turnover transportation inputs number on-site through in environment. our the business co-generation natural ongoing a employer as automation people-focused stabilizing wage; minimum of of are Saint-Gobain; an and pays above raw success culture revenues; More with achieve dynamic four, power solar cost and dependable benefiting gas. joint model supply sustainable including differentiating low are: vertically-integrated and plant energy number and Our well five, venture to of of
note, first year-over-year driven well This revenue growth a million market from X, our multifamily and main positive revenues Of in benefiting markets revenues the in multifamily to quarter. and on the of that was I commercial XX.X% single-family to are increase single-family a strong Turning gains. addition increase trends drivers residential in increased residential demographic $XXX.X in as by activity earlier. commercial Slide for on activity to and the as share total both our touched significant
of first quarter basis year the XXXX. Looking doubled first $XX.X quarter. on drivers the increased million of adjusted in $XX.X for XX.X% of compared record at of Adjusted prior million quarter a EBITDA points first to EBITDA #XX. to XXXX Adjusted margin XXX of the compared the to quarter EBITDA nearly Slide
This margin. quarter record to the quarter. $XXX.X gross First profit prior a representing profit compares $XX.X gross in a gross XX.X% million, of million, XX.X% XX.X% to representing margin year increased gross
favorable higher greater in Our significant margin sales, partly initiatives. due pricing on improvement operating dynamics mainly and operating reflected prior automation to efficiencies, leverage
SG&A quarter, $XX.X year higher volume. attributable sales and shipping commission the result of million the of was prior as compared million expenses to with to higher in $XX.X the increase majority a
debt of As showrooms. as for and bad new the well our provision administrative a and higher expenses associated expansion with costs incremental marketing
total to points of improved As XX.X%. SG&A first a revenue, the basis XXX for percentage quarter
At has cash of CapEx left and at again to year low with sheet levels adjusted once built looking cash from flow of future. net we the Slide in to quarter, debt LTM us down into record ability on leverage to drive leverage XX. X.Xx our our track EBITDA, balance us with quarter $XX.X of first in generation, significant to Now million. demand a prior flexibility anticipation reinvest in the additional giving the X.Xx in of business, our new end, in record higher ratio our our on operating This value In quarter. the of improved solid improved growth financial operations flow
$XXX $XXX As resulting under balance had $XXX.X revolving liquidity total approximately March facilities of in and million we committed credit cash of our a million. of of million, XX, availability
lower our Turning shift sustainable attributable to to the residential are themes operational initiatives improved in and our to profitable improvements generation Slide on we’ve carry single-family margin automation Namely, work. end out in business further where the in strategy calls. the our structural significant installation margin improvements into structurally the more in to gross do we penetrate recent and cash not #XX, highlighted that market, mainly margins related
revenues expect other profitability. higher normalize and on of to our XX% revenue. our operating factors into than based mix commercial manufacturing offset range on account, we year labor gross leverage current full depreciation, Taking indirect bolstering these more has in expected costs, residential the our the our versus further margin XXXX for Additionally, now
our the capital increase us value as providing quarter with mix well revenues, benefited expense as operating funding of March financial and flow which a end the our generation the to XX% increase of to of through Our management, in to additional favorable reduced by interest the over working impressive our flexibility cash capacity shareholder has careful by XX% from our financed XXXX, drive are dividend being by generation. investments production second cash entirely of more
year is Colombia. expected we operations quarters for given While anticipate cash to cash and XXXX, tax the trend continue in flow from of and second of income the XXXX, third to XXXX U.S. the strong in flow timing payments full the down
Now on to the XX, capital. public our evident making created like return our highlight in This has focused accretive would shareholders been value is returns. invested on mindset. our return equity for on on with investments becoming company, and Tecnoglass our through strong returns-oriented have Since Slide I we a
slide, returns As over evidenced significant and X meaningful returns charts profitability ROIC driven returns. the comparing the And peers, substantially on years. in this value U.S. product step-up our when validating to past has to stronger those ROE by approach have the average driven of flow into the metrics business our drive their investments cash our strategic our our shareholders, higher to and further building
XX, the by adjusted growth our the As quarter. online lot positive, of upward of with and revenue the a the remains is runway Slide of capacity slated you to and can come trajectory second see end EBITDA for on there additional
growth. exceptional as our are ability confident to years We as many ever achieve of in
to midpoint. $XXX range. the our the the EBITDA the Based expect to into second of momentum to sales XXXX growth in million. we positive and $XXX million year represents growth. first moving $XXX year full an Based XXXX million at in revenues This growth mix We anticipated adjusted months the organic on for March be and million, expectations XX% year and be adjusted Slide XX% of to range revenues strong the April, $XXX we our quarter of on our outlook and in of outlook for outlook, outlook at this our on including cost representing record expect to results Now full increasing XX. in of our revenues range EBITDA midpoint are full invoicing expenses, now quarter, a and the
margins favorable pricing range leverage strong on be expect mainly to higher We from our operating for to advantages gross operations and structural in sales, XX% XXXX, and the revenue mix. vertically-integrated attributable
very are we in the business. closing, pleased In momentum our with
Our vertically-integrated another of balance operations, in maintaining positions low-cost best-in-class deliver operating superb and flow year high-return of margins sheet while investments, products portfolio to industry-leading above-market our well conservative generation. and XXXX, growing Tecnoglass growth cash
With that, open to the questions. answer for we happy please will your Operator, be floor questions.
