TIC · TIC Solutions, Inc.

TIC Solutions' Q1 2026 results reflect the transformative impact of the NV5 acquisition completed on August 4, 2025, driving reported revenue to $488.0 million, a 108% increase from $234.2 million in the prior year, primarily from including NV5's contributions post-acquisition. On a combined basis adjusting for NV5 as if owned throughout Q1 2025, revenue grew 4.3% year-over-year, with 2.2% organic growth signaling underlying demand resilience in core recurring and compliance-driven services across transportation infrastructure, manufacturing, midstream energy, data centers, and geospatial analytics. Despite revenue scale-up, GAAP net loss widened to $41.5 million from $25.8 million, likely due to integration costs, higher interest from $1.6 billion term loan debt, and non-cash items. Adjusted EBITDA expanded sharply to $57.7 million, up 123%, underscoring operational leverage and synergy progress from NV5 integration. CEO Ben Heraud highlighted a healthy start, resilient demand, and confidence in full-year outlook, reaffirmed at revenue $2,150-$2,250 million and Adjusted EBITDA $330-$355 million. Strong liquidity of $537.5 million supports deleveraging and growth initiatives. Executive Chairman Robert A.E. Franklin emphasized the combined platform's quality market exposure and execution discipline for profitable growth. The upcoming Investor Day on May 19 will detail long-term targets, reinforcing strategic clarity for shareholders.