Titan America announces second quarter 2026 results

Second-quarter 2026 highlights

• Revenue of US$470.6 million, an increase of 9.6% compared to US$429.2 million in Q2 2025.
• Net Income of US$43.3 million, compared to US$51.1 million in Q2 2025.
• Earnings per share of US$0.23, compared to US$0.28 in Q2 2025.
• Adjusted EBITDA of US$100.7 million, an increase of 1.3% compared to US$99.5 million in Q2 2025.

“Our financial results in the second quarter demonstrated the resilience of the business, with strong year-over-year growth in our Mid-Atlantic region offsetting short-term headwinds experienced by Florida,” said Bill Zarkalis, President and CEO of Titan America. “Our Mid-Atlantic business segment captured robust project activity in the quarter, as strong commercial and operating performance lifted volumes and generated strong year-over-year improvement. Our Florida business segment delivered a solid performance despite an extended maintenance outage at the Pennsuco plant compared to the prior year and temporary import logistics disruptions.”

Mr. Zarkalis continued, “Since closing the acquisition of the Keystone Cement Company, our integration team has been on site working closely with Keystone’s exceptional team to ensure a smooth transition, accelerate revenue growth, expand operating margins, and realise targeted annual run-rate synergies of at least US$30 million by 2029. With a respected reputation that has been built over the last century, Keystone further strengthens our vertically-integrated footprint in this attractive region, enhancing our ability to serve our customers, while positioning us to benefit from the positive long-term secular growth trends underpinning these markets. We are excited about the significant opportunities ahead and confident in our ability to create long-term value through this strategic acquisition.”

Second quarter 2026 results (unaudited)

Revenue for the three months ended June 30, 2026 was US$470.6 million, an increase of 9.6% compared to US$429.2 million in the prior year quarter, of which approximately US$20 million was attributable to the acquired Keystone Cement operations. On a like for like basis, revenue for the three months ended June 30, 2026 grew by approximately US$21 million primarily from higher external sales volumes in aggregates and concrete block, as well as increases in ready-mix concrete prices.

Net Income for the three months ended June 30, 2026 was US$43.3 million, compared to US$51.1 million in the prior year quarter, while Adjusted EBITDA was US$100.7 million, an increase of 1.3% compared to US$99.5 million in the prior year period. Net Income Margin and Adjusted EBITDA Margin in the three months ended June 30, 2026 were 9.2% and 21.4%, respectively, compared to 11.9% and 23.2%, respectively, in the same period of 2025.

The increase in Adjusted EBITDA was driven by strong performance in the Mid-Atlantic segment (including the post-acquisition contribution from Keystone) which was partially offset by lower contribution from the Florida segment as further described below. In addition, when compared to the prior year quarter, Net Income for the three months ended June 30, 2026 reflected higher depreciation, depletion, and amortization expense of approximately US$3 million after tax, Keystone acquisition transaction expenses of approximately US$2 million after tax, higher share-based compensation of approximately US$1 million after tax, and additional income tax expense of approximately US$4 million resulting from the corporate reorganisation of the Keystone entities after acquisition, partially offset by lower net finance costs of approximately US$2 million after tax.

Read the article online at: https://www.worldcement.com/the-americas/29072026/titan-america-announces-second-quarter-2026-results/