Achieved record revenue and adjusted EBITDA in 2025 despite soft residential demand, driven by disciplined execution and a vertically integrated business model.

Performance was bolstered by robust public sector infrastructure projects and private non-residential demand, particularly in data centers and energy projects.

The Florida segment delivered record results by leveraging increased aggregates capabilities and cost initiatives to offset residential market weakness.

The Mid-Atlantic segment faced headwinds from adverse weather, tariffs, and soft demand in Metro New York/New Jersey, partially mitigated by resilient pricing.

Strategic capacity investments in aggregates led to a 15.7% volume increase for the full year, supporting overall margin expansion.

Management attributes margin growth to operational efficiencies, including digital transformation tools like real-time optimizers and predictive maintenance.

The pending acquisition of Keystone Cement is positioned as a foundational investment to expand geographic reach into Pennsylvania and Ohio.

Guidance for 2026 anticipates low single-digit revenue growth and modest adjusted EBITDA margin expansion on a like-for-like basis.

Management expects the residential sector inflection point to be delayed until 2027 due to persistently high mortgage rates and energy-driven inflation risks.

Infrastructure demand is projected to remain high, supported by the remaining 50% of Infrastructure Investment and Jobs Act (IIJA) funding to be spent over three years.

Planned organic investments for 2026 include expanding Pennsuco cement grinding capacity and developing a new precast lintel facility in Florida.

The company is increasing its alternative fuel capabilities in Miami to mitigate rising energy costs, aiming to grow alternative fuel use by 50%.

Successfully transitioned to a public company trading on the New York Stock Exchange in 2025.

The Keystone Cement acquisition adds approximately 990,000 short tons of clinker capacity and over 50 years of mineral reserves.

Tariffs in the Mid-Atlantic region remained a headwind in 2025 but are expected to have a smaller year-over-year impact in 2026.

A $0.04 per share issue premium distribution was approved by the Board, payable in May 2026.

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Management noted that while infrastructure and non-residential demand remain strong, geopolitical events and high oil prices make near-term interest rate cuts unlikely.

The anticipated residential recovery has been pushed to 2027 as mortgage rates are expected to stay around 6%.

Titan announced price increases of $12 per ton for cement, $10 per cubic yard for ready-mix, and $3 for aggregates.

Most increases were pushed to April, though recent energy price spikes may provide additional impetus for these adjustments.

Energy represents approximately 8% of COGS; management uses multi-fuel sourcing (gas, coal, alternative fuels) to manage volatility.

Automatic fuel surcharges in ready-mix contracts help insulate the company from spikes in diesel and liquid fuel prices.

Cement capacity growth in 2026 will be driven by grinding capacity investments at Pennsuco and improved plant reliability.

New innovative mining investments in Florida aggregates are expected to trigger the next major wave of capacity growth by the second half of 2027.

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