Titanium Transportation Group Record $136 million Revenue BOLTON, Ontario, May 16, 2022 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSXV:TTR), a leading provider of transportation and logistics services throughout North America, is pleased to report its financial results for the three month period ended March 31, 2022. All amounts are in Canadian currency.
Q1 2022 Financial Highlights compared with Q1 2021
- Record consolidated revenue of $136.0 million -- an increase of 58.7%
- Consolidated EBITDA(1) of $13.9 million -- an increase of 85.2% -- EBITDA Margin(1) of 11.5%
- Logistics segment revenue of $87.9 million -- an increase of 84.9% -- including US freight brokerage revenue of $54.9 million which increased 69.6%
- Logistics segment EBITDA of $9.2 million –EBITDA Margin of 11.5%
- Truck Transportation segment revenue of $49.3 million -- increase of 25.9% and EBITDA(1) $5.7million -- increase 36.3% -- an EBITDA Margin(1) of 13.4%
- Total net income per share of $0.13, fully diluted, compared with total net income per share of $0.03 in Q1 2021.
- Closed acquisition of Bert & Sons Cartage Limited (“BSC”) in Canada, and expanded U.S. based freight-brokerage operations to 5 centres, including a new centre opened in Atlanta, Georgia in Q1 2022.