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Titanium Group posts record revenue in first quarter

WOODBRIDGE, Ont. — Titanium Transportation Group disclosed its first quarter earnings for the first time as a publicly traded company, touting record revenue.

The company says its revenue was up 68% and represents an annualized run rate in excess of $115 million with EBITDA of $13 million.

Revenue for the first quarter was $24 million with EBITDA of $2.8 million, up 68% and 145% respectively over the first quarter of 2014.

Truck transportation revenue rose to $14.7 million, up 63% over Q1 2014. Logistics revenue rose to $9.4 million, a 74% increase over the first quarter last year.

This is partly due to acquisitions, including Muskoka Transport, which contributed $2.8 million in revenue in the first quarter since its acquisition March 1. Titanium reports it has an M&A pipeline of asset-based truckload companies.

“We are pleased to announce record results for the first quarter of 2015 including a significant increase in operating margins. These results are particularly positive, as the first quarter is historically our weakest due to industry seasonality,” announced Ted Daniel, CEO of Titanium Group. “We would also like to thank all of our employees and drivers for their contribution in making this quarter a success. Our strong corporate culture and best-in-class operating team is what allows us to continue to execute our growth and consolidation strategy successfully.”

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1 Comment » for Titanium Group posts record revenue in first quarter
  1. Ernie Luke says:

    I like seeing all the co. showing the profits they make in 1st Q then the 2Q then the3Q then the 4Q
    this is all good but the problem is the drivers never get a rise or better yet they should get a rise every Q that makes a profit.Its called greed to the CEO’S . We as drivers see this all the time its time for wages for drivers to go up by 20% if not canada will be short of drivers big time in 5 years.i’ve been driving for 40 years still making the same wages back in the 80’s. But one good thing come out of my 40 years i got canada driver of the year from RYDER TRUCK WPG MB

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