TIC
TIC Solutions, Inc.10.30
-0.06-0.58%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Integration ahead; cross-sell color added.
Q&A provided fresh details on integration surging ahead of schedule, with 60% of $25M synergies from headcount cuts and weekly milestone tracking. Management highlighted I&M's entirely new data center entry via radiographic testing as cross-sell proof, clarifying $100M revenue line-of-sight lands in 2026. They addressed margin questions by pinning the $8M EBITDA guide dent on comp reclass, yet touted segment execution gains. Three Q4 tuck-ins signal M&A continuity alongside opportunistic buybacks. Answers largely reaffirmed prepared remarks. Confident throughout; watch cross-sell scale and May Investor Day.
Key Stats
Market Cap
2.27BP/E (TTM)
-Basic EPS (TTM)
-1.32Dividend Yield
0%Recent Filings
8-K
CEO transition, strong results
TIC Solutions reported 2025 revenue of $1.5B and Adjusted EBITDA of $234.1M, with Q4 revenue at $508.3M up 94% from prior year, fueled by NV5 integration yielding $25M cost synergies. CEO Tal Pizzey retires March 31, 2026; COO Ben Heraud steps in with 20+ years experience. Board approved $200M buyback. Guides 2026 revenue $2.15-2.25B, Adjusted EBITDA $330-355M. Heraud knows operations cold.
8-K
NV5 pro forma financials filed
10-K
FY2025 results
TIC Solutions posted FY2025 revenue of $1.5B, up 39% y/y (derived), fueled by the NV5 acquisition adding $431M while legacy Inspection and Mitigation held flat at $1.1B amid run-and-maintain gains offsetting U.S. Gulf Coast and chemicals softness. Q4 momentum faltered with gross margins slipping to 22.4% from 25.6% in H1 as outage volumes dipped, compressing field labor efficiency despite NV5's 48% margins in Consulting Engineering and Geospatial. Operating loss widened to $17M on $441M SG&A (28.8% of sales, derived), reflecting $178M depreciation/amortization and integration costs, yet $95M operating cash flow signals resilience. $1.6B Term Loans fund the debt load; no dividends or buybacks. Material weaknesses persist in internal controls.
8-K
Approves preferred stock dividend
TIC Solutions' board approved a 668,347-share common stock dividend on December 31, 2025, payable to the holder of its 1,000,000 outstanding Series A preferred shares, priced at $10.2829 based on 2025's VWAP. This fulfills the first annual 20% dividend on common stock appreciation above the $10 initial offering price. Shares outstanding hit 221,209,686 post-issuance on January 2, 2026. Dividend escalates yearly on further gains.
8-K
Q3 revenue beats, NV5 synergies up
TIC Solutions posted Q3 revenue of $473.9M, up 56% on $303M combined prior-year base, with Adjusted EBITDA of $77.3M surging 51%; NV5 integration shows strong momentum, synergy target hiked to $25M. General Counsel Richard Tong retires by Dec 31; search underway. Reaffirms 2025 guidance: $1.53-1.57B revenue, $240-250M Adjusted EBITDA. Leadership transition tests execution.
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