Titan America Q2 revenue rises 9.6% on Keystone deal

Titan America SA

28/07/2026 21:19

Overview
U.S. building materials supplier's Q2 revenue rose 9.6% yr/yr, driven by Keystone acquisition
Q2 net income and EPS fell yr/yr due to higher costs and Keystone acquisition expenses
Company expects high single-digit 2026 revenue growth, but lower adjusted EBITDA margin

Outlook
Titan America expects high single-digit revenue growth for full-year 2026 versus 2025
Company forecasts a modest decline in 2026 Adjusted EBITDA margin versus 2025
Titan America targets at least $30 mln annual run-rate synergies from Keystone by 2029

Result Drivers
MID-ATLANTIC GROWTH - Co said strong project activity and improved pricing in the Mid-Atlantic segment, including contribution from Keystone acquisition, drove revenue and adjusted EBITDA growth
FLORIDA HEADWINDS - Co said Florida segment results were impacted by extended maintenance at Pennsuco plant and cement import supply chain disruptions, leading to lower volumes and higher costs
HIGHER COSTS - Co said net income was reduced by higher depreciation, acquisition transaction expenses, share-based compensation, and income tax expense related to Keystone acquisition

Company press release: ID:nBw8w1g6xa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$470.63 mln
 
Q2 EPS
 
$0.23
 
Q2 Net Income
 
$43.27 mln
 
Q2 Adjusted EBITDA
 
$100.73 mln
 

Analyst Coverage
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)