Titan America (TTAM) Q1 2026 earnings summary

Executive summary

• Q1 2026 performance showed resilience with 1.5% revenue growth to $398.4 million and a 3.4% rise in adjusted EBITDA, despite residential market softness, inflationary pressures, and geopolitical conflict in Iran.

• Net income was $33 million, slightly down from $33.4 million in Q1 2025, with EPS at $0.18 versus $0.19.

• Completed acquisition of Keystone Cement Company, expanding domestic cement capacity and geographic reach in the Mid-Atlantic region.

• Innovation Hub launched in Miami/South Florida to accelerate advanced materials, digital solutions, and resilient infrastructure.

• Strong infrastructure and private non-residential demand in Florida and Mid-Atlantic offset residential weakness.

Financial highlights

• Adjusted EBITDA margin improved to 20.7%, up 40 bps year-over-year.

• Net income margin was 8.3% versus 8.5% prior year.

• Operating cash flow rose to $62 million from $35 million; free cash flow reached $30 million.

• Net debt reduced to $227 million, with a net debt/Adjusted EBITDA ratio of 0.58x.

• Cash and equivalents: $228 million; total debt: $455 million.

Outlook and guidance

• Reaffirmed full-year 2026 outlook, expecting low single-digit revenue growth and modest adjusted EBITDA margin expansion.

• Guidance excludes Keystone contribution as integration is underway.

• Residential sector softness expected to persist through 2026, with inflection likely in 2027.

• Strategic investments and the Keystone acquisition are expected to accelerate topline growth and improve margins.