Q2 2026 Titan America SA Earnings Call Transcript
Key Points
- Titan America SA (TTAM) reported a 9.6% increase in second-quarter revenue compared to the same period last year, demonstrating solid performance despite challenges.
- The Mid-Atlantic region showed strong year-over-year growth in both revenue and adjusted EBITDA, driven by robust project activity in private non-residential and public infrastructure investments.
- The acquisition of Keystone Cement Company expands TTAM's geographic reach and strengthens its vertically integrated footprint, enhancing its ability to serve customers and capture operational synergies.
- TTAM's participation in the growing data center market in Virginia positions the company to capitalize on substantial follow-on investments in power generation, infrastructure, and commercial construction.
- The development of a fly ash recycling plant at the Brunner Island Steam Electric Station aligns with TTAM's long-term growth strategy and enhances its position in the market for supplemental cementitious materials.
- Residential construction activity remains subdued in Florida, with project delays and softer cement demand impacting the region.
- Scheduled extended maintenance shutdowns at the Pennsuco plant resulted in longer outages, negatively affecting Florida's second-quarter results.
- Substantial delays in cement imports due to disruptions in overseas ports and shipping impacted the Florida business.
- Adjusted EBITDA margin decreased by approximately 180 basis points compared to the prior year, reflecting costs associated with the extended Pennsuco outage.
- Net income for the quarter decreased to $43 million from $51 million in the prior-year quarter, partly due to Keystone-related transaction costs and a one-time tax charge.
Good afternoon, and thank you for joining us. I am Chloe, your conference call operator. Welcome to Titan Americaâs second quarter 2026 conference call. (Operator Instructions)
I would now like to turn the call over to Michael Bennett, Vice President of Investor Relations.
Thank you, good afternoon to everyone on the line. Thank you for joining us for Titan Americaâs second-quarter 2026 conference call. I am joined by Bill Zarkalis, President and Chief Executive Officer; and Larry Wilt, Chief Financial Officer.
Before we begin, I would like to remind you that earlier this afternoon, we released Titan Americaâs second-quarter 2026 results, which are available on our website at ir.titanamerica.com, along with todayâs accompanying slide presentation. This call is being recorded, and a replay will be made available on our Investor Relations website.
During the call, we will present both IFRS and non-IFRS financial measures. The most directly comparable IFRS
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