We look for Tecnoglass to post 3Q:25 revenue growth of 11% (8% organic) to drive a 3% EPS increase to $1.11. Within the U.S. (comprises 95% of LTM sales), we expect sales into commercial markets to lead the sales gains with a projected increase of 16%. We forecast single-family residential sales to advance 7%. Beyond near-term results, we look for updates on the company's U.S. market penetration initiatives (new showrooms, vinyl windows), and its plans to diversify its manufacturing footprint into the U.S. TGLS had a net cash position as of 2Q:25. The company upsized its and extended its credit facility in September, and we estimate total liquidity now stands at about $600 million, supporting our moderate risk rating. Our $84 price target is based on 17x our 2026 EPS estimate of $4.92.