What does Titan America do and what are its main business segments?

What guidance did Titan America's management provide for the next earnings period?

What is the revenue and EPS growth rate for Titan America year over year?

What is Titan America's gross profit margin?

What factors drove the changes in Titan America's revenue and profit?

Did Titan America beat or miss consensus estimates last quarter?

What were the key takeaways from Titan America's earnings call?

What is the market's earnings forecast for Titan America next quarter?

- **Revenue & Margin Growth**: Q3 2025 revenue $437M (+6% YoY), EBITDA $117M (+18% YoY), margin 26.7% (up 250bps). 
- **Segment Strength**: Florida EBITDA +16%, Mid-Atlantic +11%, driven by infrastructure and data center demand. 
- **Strategic Expansion**: Pre-certified lintel plant to launch 2027, aggregates capacity expansion driving 11.9% volume growth. 
- **2025 Guidance**: Full-year revenue 2-3% growth, modest EBITDA margin improvement. 
- **2026 Pricing**: Announced +$12/ton cement, +$3/ton aggregates, +$10-12/cu yd ready-mix, targeting 2026 margin expansion. 
- **Green Cement Progress**: 3-5% production low-carbon, used in high-performance concrete with strong adoption.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $437 million, up 6% YoY, driven by aggregates, cement, and ready-mix growth. Adjusted EBITDA rose 18% to $117 million, with margin expanding to 26.7% (up 250bps YoY). 
- **Segment Performance**: Florida segment revenue grew 4.3% to $263 million, EBITDA up 16.2% to $81 million. Mid-Atlantic revenue increased 9.4% to $174 million, EBITDA up 10.6% to $37 million. 
- **Strategic Initiatives**: Announced precast lintel plant certification, targeting 2027 launch. Expansion of Pennsuco aggregates capacity driving volume growth. 
- **Guidance Update**: Full-year 2025 revenue growth revised to 2-3%, with modest EBITDA margin improvement. 2026 price increases announced across all product lines, effective Jan 1, 2026. 

**【CFO Financial Commentary】**
- **Cash Flow**: Q3 free cash flow $68 million, year-to-date $94.4 million. Capital expenditures $120.4 million YTD, focused on capacity expansion and digital initiatives. 
- **Balance Sheet**: Net debt $269 million (0.71x trailing EBITDA), down from 1.21x at end-2024. Share premium distribution of $0.04 per share approved. 
- **Cost Management**: Mitigated cost headwinds (tariffs, labor, energy) through operational efficiency, maintaining margin expansion despite 1/3 industry exposure to soft residential market. 

**【Q&A Highlights】**
- **Project Backlogs**: Mid-Atlantic Q3 growth driven by released infrastructure and data center projects. Florida aggregates expansion supporting volume growth. 
- **Weather Impact**: Q4 2025 expected to benefit from easier comps (2024 hurricanes). Florida aggregates volumes up 11.9% YoY, offsetting Mid-Atlantic seasonal weakness. 
- **Precast Lintel**: First plant expected late 2026/early 2027, targeting 3-5% EBITDA contribution within 3 years. 
- **Tariffs**: Q3 impact ~$6 million, full-year ~$7.5-8 million. 
- **Green Cement**: 3-5% of production now low-carbon, used in high-performance concrete products with strong market adoption. 
- **2026 Outlook**: Price increases across all product lines (cement +$12/ton, aggregates +$3/ton), but residential recovery timing uncertain (expected H2 2026).

Titan America SA (TTAM) Q3 2025 Earnings Call Transcript

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Mid-Atlantic

TTAM

TTAM fundamentals

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