Titanium Transportation Group Inc (TSX:TTNM)
C$ 2.1 -0.04 (-1.87%) Market Cap: 94.51 Mil Enterprise Value: 271.48 Mil PE Ratio: 52.50 PB Ratio: 0.91 GF Score: 87/100
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Q2 2024 Titanium Transportation Group Inc Earnings Call Transcript

Aug 13, 2024 / 12:00PM GMT
Release Date Price: C$1.97 (-4.37%)

Key Points

Positve
  • Titanium Transportation Group Inc (TTNMF) reported a 14.7% increase in revenue, reaching $115 million in Q2 2024 compared to Q2 2023.
  • The trucking segment saw a significant revenue increase of 20.7% year-over-year, driven by the acquisition in Oakwood, Georgia.
  • Logistics volumes improved by 22% year-over-year, indicating strong growth in this segment.
  • The company is focused on leveraging technology, including AI, to optimize operations and improve efficiencies.
  • Titanium Transportation Group Inc (TTNMF) is committed to reducing long-term debt through strategic asset divestitures and generating substantial free cash flow over the next 18 to 24 months.
Negative
  • The EBITDA margin for the trucking segment declined to 15.5% from Q2 2023, due to integration costs and economic headwinds.
  • The logistics segment experienced a decrease in EBITDA margin from 8.7% in Q2 2023 to 6.2% in Q2 2024.
  • The full truckload segment faced significant pricing pressures, leading to a 6% decrease in pricing year-over-year.
  • Integration of the Crane Transport acquisition is progressing slower than expected, impacting profitability.
  • Market conditions remain challenging with muted economic activity and overcapacity affecting freight demand.
Operator

Good morning, and welcome to Titanium Transportation Group Q2 2024 conference call. On today's call, we have Ted Daniel, President and Chief Executive Officer; Alex Fu, Chief Financial Officer; and Marilyn Daniel, Chief Operating Officer.

Before we begin, I would like to remind everyone that certain statements made on this call today may be forward-looking. In that regard, please refer to the risk factors and cautionary provisions outlined in the press release issued by the company yesterday as well as the filings made by Titanium on SEDAR. Please note that this call is being recorded today, Tuesday, August 13, 2024. A replay of this call will be made available until midnight on August 27, 2024. The details of the replay can be found on Titanium's website under the Investors section.

I would now like to turn the call over to Titanium's President and CEO, Ted Daniel. Please go ahead, sir.

Theodor Daniel
Titanium Transportation Group Inc - President, Chief Executive Officer, Director

Good morning. Thank you, operator, and thank you all for

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