Titan America Announces Second Quarter 2025 Results

About this update from Titan America Sa

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Titan America SA, including its wholly-owned operating subsidiary, Titan America LLC, shall be referred to herein as "Titan America."","length":440,"tagName":"p"},{"type":"text","content":" Second-Quarter 2025 Highlights ","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of $429.2 million, compared to $433.1 million in Q2 2024","length":64,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net Income of $51.1 million, compared to $60.3 million in Q2 2024","length":65,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Earnings per share of $0.28, compared to $0.34 in Q2 2024","length":57,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA (1) of $99.5 million, compared to $116.8 million in Q2 2024","length":74,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":260,"olType":false},{"type":"text","content":""We delivered resilient financial performance in the second quarter, demonstrating the strength of our vertically integrated business model in the face of uncertain economic conditions and challenging weather conditions in the Mid-Atlantic region of our country," said Bill Zarkalis, President & CEO of Titan America. "As expected, our second quarter financial results, when compared to the year ago period, were adversely impacted by the timing of planned major maintenance activities at our Pennsuco cement plant. Looking ahead, we see favorable long-term fundamentals driven by infrastructure investments and resilient urbanization trends along the US Eastern Seaboard - factors that position us well for future growth and enhanced shareholder value."","length":778,"tagName":"p"},{"type":"text","content":" Second Quarter 2025 Results (unaudited) ","length":39,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:28%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"14","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" Three Months Ended June 30 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Florida segment generated revenues of $260.8 million in the second quarter of 2025, compared to $257.6 million in the year ago period. The 1.2% year-over-year increase was primarily due to higher aggregates volumes, which were partially offset by continued weakness in demand for cement, ready-mix concrete, and concrete block. Segment Adjusted EBITDA for the quarter declined to $62.2 million, compared to $70.9 million in the prior year quarter primarily due to the timing of the annual major maintenance outage at the Pennsuco cement plant.","length":547,"tagName":"p"},{"type":"text","content":"The Mid-Atlantic segment generated revenues of $168.5 million in the second quarter, compared to $175.1 million in the prior year quarter as adverse weather conditions led to lower sales volumes. Segment adjusted EBITDA was $40.6 million, compared to $49.2 million in the prior year quarter primarily due to the impact of lower sales volumes and higher raw material costs.","length":372,"tagName":"p"},{"type":"text","content":" 2025 Outlook ","length":12,"tagName":"p"},{"type":"text","content":"Regarding Titan America's outlook, Titan America President & CEO Bill Zarkalis stated, "We are reaffirming our full-year 2025 outlook based on the strength of our order book and an expected return to more normal weather patterns as compared to H2 2024 when our operations were severely impacted by three significant hurricanes. Under this assumption, we expect revenue growth in the mid-single digit percent range, with modest improvement in Adjusted EBITDA margins compared to 2024."","length":502,"tagName":"p"},{"type":"text","content":" Conference Call ","length":15,"tagName":"p"},{"type":"text","content":"Titan America will host a conference call at 5:00 p.m. ET on July 29, 2025. The conference call will be broadcast live over the Internet. Additionally, a slide presentation will accompany the conference call. To listen to the call and view the slides, please visit the Investors section of Titan America's website at https://www.titanamerica.com/ . For those who are unable to listen to the live broadcast, an audio replay of the conference call will be available on the Titan America website for 30 days.","length":508,"tagName":"p"},{"type":"text","content":" About Titan America SA ","length":22,"tagName":"p"},{"type":"text","content":"Titan America is a leading vertically-integrated producer of cement and building materials in the high-growth economic mega-regions of the U.S. East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey. Titan America's family of company brands includes Essex Cement, Roanoke Cement, Titan Florida, Titan Virginia Ready-Mix, S&W Ready-Mix, Powhatan Ready Mix, Titan Mid-Atlantic Aggregates, and Separation Technologies. Titan America's operations include cement plants, construction aggregates and sand mines, ready-mix concrete plants, concrete block plants, fly ash production facilities, marine import and rail terminals, and distribution hubs.","length":721,"tagName":"p"},{"type":"text","content":" Forward-Looking Statements ","length":26,"tagName":"p"},{"type":"text","content":"This press release may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management's current intentions, beliefs or expectations relating to, among other things, Titan America's future results of operations, financial condition, liquidity, prospects, growth, strategies, developments in the industry in which we operate and the proposed offering. In some cases, you can identify forward-looking statements by terminology such as "believe", "anticipate", "continue," "could," "expect," "goal," "may," "plan," "predict," "propose," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. By their nature, forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results or future events to differ materially from those expressed or implied thereby. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this report regarding trends or current activities should not be taken as a report that such trends or activities will continue in the future. Titan America undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this report. The information contained in this report is subject to change without notice. No re-report or warranty, express or implied, is made as to the fairness, accuracy, reasonableness or completeness of the information contained herein and no reliance should be placed on it.","length":2017,"tagName":"p"},{"type":"text","content":" Financial Measures (Non-IFRS) ","length":29,"tagName":"p"},{"type":"text","content":"In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this press release includes the following Non-IFRS financial measures: Adjusted EBITDA, Adjusted EBITDA Margin, Net Income Margin, free cash flow, net debt and the ratio of net debt to Adjusted EBITDA. We define Adjusted EBITDA as net income before finance cost, net, income tax expense, depreciation, depletion and amortization, further adjusted to remove the impact of additional items such as (gain)/loss on disposal of fixed assets, asset impairment (recovery)/loss, foreign exchange (gain)/loss, net, derivative financial instrument (gain)/loss, net, fair value loss on sale of accounts receivable, net, share-based compensation and other non-recurring items, including certain transaction costs related to our initial public offering. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues. We define free cash flow as net cash provided by operating activities, less net payments for capital expenditures, which includes (i) investments in property, plant and equipment, (ii) investments in identifiable intangible assets and (iii) proceeds from the sale of assets, net of disposition costs. We define net debt as the sum of short and long-term borrowings, including accrued interest and short-term and long-term lease liabilities less cash and cash equivalents. We define the ratio of net debt to Adjusted EBITDA as the ratio derived by dividing net debt by Adjusted EBITDA. See "Reconciliation of IFRS to Non-IFRS" section for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure.","length":1698,"tagName":"p"},{"type":"text","content":"We believe that in addition to our results determined in accordance with IFRS, these Non-IFRS financial measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures.","length":321,"tagName":"p"},{"type":"text","content":"Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as comparative measures.","length":497,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;padding-left:0.0px;","val":[{"type":"text","content":"(1) As used throughout this release, the terms Adjusted EBITDA, Adjusted EBITDA margin, Net Income margin, free cash flow, net debt and net debt to Adjusted EBITDA are non-IFRS financial metrics. See "Reconciliation of IFRS to Non-IFRS" for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. See "Financial Measures (Non-IFRS)" for further discussion on these non-IFRS measures and why we believe they are useful.","length":485,"tagName":"p","attribs":{}}]}]}],"length":485},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"17","rowspan":"1","style":"padding-left:0.0px;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" Condensed Consolidated Statements of Income (Unaudited) 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