Titan America SA announced its second-quarter 2026 financial results, including its wholly-owned operating subsidiary, Titan America LLC.
Revenue for the three months ended June 30 was $470.6 million, an increase of 9.6% compared to $429.2 million in the prior year quarter, of which approximately $20 million was attributable to the acquired Keystone Cement operations. On a like-for-like basis, revenue for the three months ended June 30, grew by approximately $21 million primarily from higher external sales volumes in aggregates and concrete block, as well as increases in ready-mix concrete prices.
The Florida segment generated revenue of $256.7 million in the second quarter of 2026, compared to $260.8 million in the prior year quarter with higher concrete block and external aggregates volumes not fully offsetting lower ready-mix concrete volumes and lower aggregates and concrete block pricing which were affected by product, channel and customer mix.
Segment-adjusted EBITDA for the quarter was $50.6 million, compared to $62.2 million in the prior year period. Results were impacted by costs associated with extended major maintenance activities at the Pennsuco cement and aggregates facility as well as cement import supply chain disruptions and the associated incremental cost of temporarily sourcing cement and aggregates from third parties during the period.
The Mid-Atlantic segment generated revenue of $214 million in the second quarter, compared to $168.5 million in the prior year quarter. The 27% year-over-year increase in revenue was primarily due to approximately $20 million of revenue from the acquired Keystone assets, double digit growth in volumes and unit selling prices in ready-mix concrete, and higher pricing and volumes in the segment’s legacy cement operations.
Segment-adjusted EBITDA was $52.8 million, an increase of 30% compared to $40.6 million in the prior year quarter, as the benefit of project mix, improved pricing, and operating efficiencies more than offset higher raw materials and energy costs and cement import disruptions.
“Our financial results in the second quarter demonstrated the resilience of the business, with strong year-over-year growth in our Mid-Atlantic region offsetting short-term headwinds experienced by Florida,” said Bill Zarkalis, president and CEO of Titan America. “Our Mid-Atlantic business segment captured robust project activity in the quarter, as strong commercial and operating performance lifted volumes and generated strong year-over-year improvement. Our Florida business segment delivered a solid performance despite an extended maintenance outage at the Pennsuco plant compared to the prior year and temporary import logistics disruptions.”
Zarkalis continued, “Since closing the acquisition of the Keystone Cement Co. our integration team has been on site working closely with Keystone’s exceptional team to ensure a smooth transition, accelerate revenue growth, expand operating margins, and realize targeted annual run-rate synergies of at least $30 million by 2029. With a respected reputation that has been built over the last century, Keystone further strengthens our vertically integrated footprint in this attractive region, enhancing our ability to serve our customers, while positioning us to benefit from the positive long-term secular growth trends underpinning these markets. We are excited about the significant opportunities ahead and confident in our ability to create long-term value through this strategic acquisition.”
