Titan America SA · Q3 2025 earnings

Briefing

Titan America delivers 6.2% revenue growth to $436.8M as infrastructure and non-residential demand lift volumes

Titan America reported third quarter 2025 revenue of $436.8 million, up 6.2% from $411.4 million a year ago, driven by higher cement, ready-mix and aggregates volumes amid stronger infrastructure and private non-residential activity despite continued residential softness. Net income rose 44.7% to $57.4 million, or $0.31 per diluted share, while adjusted EBITDA increased 18.3% to $116.7 million and adjusted EBITDA margin expanded to 26.7% from 24.0%. The Florida segment generated $263.3 million in revenue and $81.1 million in segment adjusted EBITDA, while Mid-Atlantic revenue reached $173.5 million. Management revised full-year 2025 revenue growth guidance to 2% to 3% and expects modest adjusted EBITDA margin improvement versus 2024.

• Revenue grew 6.2% YoY to $436.8M with net income up 44.7% to $57.4M and EPS of $0.31
• Adjusted EBITDA rose 18.3% to $116.7M as margin improved to 26.7% from 24.0%
• Florida segment revenue was $263.3M (+4.3% YoY) and Mid-Atlantic revenue was $173.5M (+9.4% YoY)
• Nine-month operating cash flow was $214.8M and free cash flow was $94.4M; cash was $195.6M with net debt of $268.8M
• Full-year 2025 revenue growth guidance was revised to 2% to 3% with modest adjusted EBITDA margin improvement expected

Headline financials

Revenue & EPS history

Management revised full-year 2025 revenue growth guidance to 2% to 3% versus the prior year and continues to expect modest improvement in adjusted EBITDA margin compared to 2024.