The lowered full-year outlook and deteriorating margins, especially in the Florida segment, suggest near-term headwinds will persist. Monitor Q4 for further margin compression and the pace of Keystone integration synergies.
Price Chart
How similar events traded
Executive Summary
The company lowered its full-year outlook, expecting mid-single-digit revenue growth and a 250-300 bps decline in Adjusted EBITDA margin, citing market headwinds, higher energy costs, and an unplanned plant outage.
Key Financial Metrics
Key Facts
- Q3 2026 revenue $461.6M, +5.7% YoY (vs consensus $478.4M)
- Net income $39.8M, down 30.8% YoY from $57.4M
- Adjusted EBITDA $95.0M, down 18.6% YoY from $116.7M
- Adjusted EBITDA margin 20.6%, down from 26.7% a year ago
- Florida segment revenue -5.4% YoY; segment EBITDA -25.0%
- Free cash flow $17.7M, down 74.1% YoY from $68.3M
- Full-year outlook lowered: mid-single-digit revenue growth, Adj. EBITDA margin down 250-300 bps
- Net debt $531.2M, ratio to TTM Adj. EBITDA 1.43x (vs 0.64x at Dec 2025)
- Keystone acquisition contributed ~$30M to Q3 revenue
Financial Impact
EPS miss of ~39% vs consensus; net income decline of 30.8% YoY; free cash flow decline of 74.1% YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Florida | $249.0M | -5.4% |
| Mid-Atlantic | $212.6M | +22.5% |
Risk Factors
- Continued housing market weakness in Florida
- Higher energy and materials costs pressuring margins
- Unplanned maintenance outages at Roanoke Cement plant
- Elevated net debt and reduced free cash flow limit financial flexibility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0002035304-26-000125 |
| Document: tasaq32026financials6-k.htm | 0002035304-26-000125 |
| Document: 0002035304-26-000125-index-headers.html | 0002035304-26-000125 |
| Document: 0002035304-26-000125-index.html | 0002035304-26-000125 |
| Document: 0002035304-26-000125.txt | 0002035304-26-000125 |
| Earnings Context (Synthetic; results releases only) | 0002035304-26-000125 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 1d ago | 6-K | $14.05 | awaiting T+20 | awaiting T+20 | $11.68 (+16.87%) |
Oct 29, 2026 7d ago | 6-K | $13.87 | awaiting T+20 | awaiting T+20 | $11.68 (−15.79%) |
May 1, 2026 26w ago | 6-K | $16.06 $16.03 | ▼ −0.19% | ▼ −5.83% | $11.68 (−27.27%) |
Apr 17, 2026 28w ago | 6-K | $16.73 $15.46 | ▼ −7.59% | ▼ −11.79% | $11.68 (−30.19%) |
US Market Status
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