Solid Revenue and Profit Growth
Titan America reported a 6% revenue growth to $437 million, with adjusted EBITDA increasing by 18% to $117 million and net income up 45% year-over-year. The adjusted EBITDA margin expanded to 26.7%, up 250 basis points from the prior year.
Strong Performance in Florida Segment
The Florida segment delivered a 4.3% revenue growth to $263 million and a 16.2% increase in segment adjusted EBITDA to $81 million. The segment's performance was driven by strategic capacity investments, particularly in aggregates.
Impressive Volume Increase in Key Products
Total aggregates volumes increased 11.9%, fly ash volumes rose 23.7%, and ready-mix concrete volumes grew 4.1% year-over-year, reflecting strong demand and strategic investments in capacity.
Strategic Milestone in Precast Lintel Market
Titan America announced certification for its own lintel designs, marking a strategic entry into the precast lintel market, expected to expand its precast solutions and accelerate growth.
Strong Cash Flow and Balance Sheet
The company reported free cash flow of $68 million for the quarter, with a net debt position of $269 million and a leverage ratio of 0.71x trailing 12-month adjusted EBITDA.