Titan America SA Common Shares

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Thank you, Operator, and good afternoon to everyone on the line. Thank you for joining us for Titan America's second quarter 2025 conference call. I am joined by Bill Tsarkalis, President and Chief Executive Officer of Titan America, and Larry Wilt, Chief Financial Officer. Before we begin, I would like to remind you that earlier this afternoon we released Titan America's second quarter financial results. which are available on our website at ir.titanamerica.com along with today's accompanying slide presentation. This call is being recorded and a replay will be made available on our investor relations website. During the call, we will present both IFRS and non-IFRS financial measures. The most direct comparable IFRS measures and reconciliations for non-IFRS measures are available in today's press release and accompanying slides. Certain statements on today's call may be deemed to be forward-looking statements. Such statements can be identified by terms such as expect, believe, intend, anticipate, and may, among others, or by the use of the future tense. you should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements, and we do not undertake any obligation to update any forward-looking statements we make today. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today, as well as the risks and uncertainties described in our SEC filings. I would now like to turn the call over to Bill. Bill, please go ahead.

Thank you, Dan, and good afternoon, everyone, and thank you for joining us today for our second quarter 2025 financial results call. If you turn to slide four in the presentation, I'd like to begin by highlighting our key messages for the quarter. We delivered resilient results in the second quarter despite weather-related challenges and continued softness in the residential market. Our vertically integrated business model and strategic market positioning enabled us to navigate these challenges effectively. As we discussed on our last call, our second quarter results in the Florida segment were adversely impacted by the timing of our annual major maintenance outage at Pensuco. which last year occurred primarily in the first quarter, while this year it took place in the second. On a year-to-date basis, adjusted tibidina Florida segment improved year over year. On the other hand, our mid-Atlantic segment experienced particularly harsh weather in the second quarter, that significantly reduced available work days and consequently sales volumes, revenue, and profitability. Our investments in aggregate capacity, operational excellence, and digital transformation initiatives have supported our margins in a challenging first half of 2025. Today, we are reaffirming our full year 2025 outlook based on the strength of our order book and an expected weaker set of comparables, considering that in the second half of 2024, our operations were severely impacted by three significant hurricanes. Turning now to slide five, it is clear that the softness in demand in the residential sector remains the near-term challenge in our market. Driven by high interest rates, and housing affordability. In the recent trends report, the American Cement Association estimates that US cement consumption in the first five months of 2025 has declined on average by 6%, while states like Florida, New York, and North Carolina suffered double-digit declines. On the economic backdrop, uncertainty still prevails. However, recent policy developments are creating a more supportive backdrop for our business. Let me highlight some green shoots. The One Big Beautiful Bill provides greater policy certainty and enhanced capital incentives aimed at encouraging investment activity. In addition, Recently emerging agreements with key trade partners such as the European Union and Japan should reduce this element of uncertainty that was present in the operating environment of the first half. Although consumer confidence remains at relatively low levels, we are seeing gradual improvement in sentiment alongside continued strength in infrastructure investment, and selective non-residential sectors, including data centers and energy projects that drive strong demand for our products. Most importantly, our order book remains robust across both geographic segments. Overall, we remain confident about the secular trends that will drive growth in the construction industry in our markets. On slide six, I'd like to highlight select strategic investments we are making to best position our company to meet the increased demand we expect in high growth and markets as uncertainty abates. These investments are increasing our capacity, improving reliability, and enhancing overall service for our customers. As examples, on the downstream side, we are building the Lewisburg Ready Mix Plant in the high-growth Northern Virginia market. We are also proud to announce the recent commissioning of our new Ready Mix Plant serving the greater Jacksonville area, a market experiencing strong growth from inbound migration, business expansion, and corporate relocations. Moreover, we are excited that the adjacent Jacksonville Block Plant is progressing well and is expected to be operational by the end of 2026. On the logistics front, we are expanding the Charlotte cement terminal to enhance the reach of our own cement plant. While in Florida, we received investment grants from the Florida Department of Transportation to help fund the expansion of our aggregate distribution terminals in Jacksonville and Melbourne. These terminals will serve both our downstream units and our external customers, expanding our participation in these high-growth markets. On slide 7, I'd like to highlight some key projects we are participating in across our segments. In the Mid-Atlantic region, we are supplying cement for the runway and ramp paving project at the Charlotte Douglas International Airport, which is expected to continue through the second quarter of 2027. ReadyMix facilities are actively supporting construction at the North Carolina Global Transpark in Kingston, a major industrial and business park serving the aviation, airspace, and advanced materials industries. Additionally, We are supporting Virginia's first onshore wind project, the Rock Forge Wind Farm, supplying cement for foundation work beginning in the fourth quarter of 2025 with expected completion in the second quarter of 2026. This new energy source will power a recently announced data and AI center in Botetourt County near the Roanoke Cement Plant in Southwest Virginia. In Florida, we are participating in an equally impressive array of projects. We are a key supplier of materials for the new North Pavilion at Tampa General Hospital, which is a project that expands critical care capacity with state-of-the-art technology to enhance patient outcomes. Finally, to exciting infrastructure projects in Florida utilizing our cement, aggregates, and ready mix, the Golden Glades Interchange in Miami, and the Okeechobee Road Construction Project. These major infrastructure investments feature highway widening, tens of miles of concrete paving, and multiple flyover bridges. They are two of many state-funded projects in Florida aimed at reducing congestion, modernizing some of the region's busiest freight corridors, improving safety and quality of living in the densely populated southeast Florida region. These projects demonstrate not only the breadth of our market reach, but also our technical capabilities in providing specialized solutions across diverse construction sectors. Before I hand it over to Larry for a detailed financial review, I want to acknowledge the dedication of our team members who continue to execute well despite continued challenging conditions. The commitment to operational excellence and customer service remains the foundation of our success. Larry will now provide a more detailed breakdown of our financial results and segment performance. Larry?