TIC

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 8:30 a.m. ET Investor Relations - Andrew Shen Chief Executive Officer - Ben Heraud Chief Financial Officer - Kristin Schultes Executive Chairman - Robbie Franklin Operator: Hello, and welcome, everyone, joining today's TIC Solutions Second Quarter 2026 Earnings Call. [Operator Instructions] Please note, this call is being recorded. It is now my pleasure to turn the meeting over to Andrew Shen with Investor Relations. Please go ahead. Andrew Shen: Thank you, operator. Good morning, everyone, and thank you for joining the call. Joining me this morning is Ben Heraud, our Chief Executive Officer; Kristin Schultes, our Chief Financial Officer; and Robbie Franklin, Executive Chairman. I would now like to remind you that certain statements in the company's earnings press release and on this call are forward-looking statements that are based on expectations, intentions and projections regarding the company's future performance, anticipated events or trends and other matters that are not historical facts. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In our press release and filings with the SEC, we detail material risks that may cause our future results to differ from our expectations. Our statements are as of today, August 6, 2026, and we undertake no obligation to update any forward-looking statements we may make, except as required by law. As a reminder, we have posted a presentation detailing our second quarter financial performance on the Investor Relations page of our website at ticsolutions.com. Our comments today will also include non-GAAP financial measures and other key operating metrics. The required reconciliations of non-GAAP financial metrics can be found in our press release and in our presentation. For the purposes of this call, we refer to our segments as Inspection and Mitigation, or I&M, Consulting & Engineering, or C&E, and Geospatial or GEO. Any reference to combined results reflects a non-GAAP combined view of legacy Acuren and legacy NV5, where applicable for a period-to-period comparability. More details on the calculation of the combined results are included in the presentation. It's now my pleasure to turn the call over to Ben. Benjamin Heraud: Thank you, Andrew. Good morning, everyone. I want to take a moment to thank our shareholders for their continued support and our team members across the organization for their hard work and dedication to our clients. Our second quarter demonstrated solid execution across the platform. We delivered double-digit growth in Consulting & Engineering, strong growth in Geospatial and improving commercial indicators in Inspection & Mitigation as we enter the second half of the year. Cross-selling is working across the business and margin expansion is underway with consolidated adjusted EBITDA margin improving year-over-year as we progress towards our long-term target of 18%. Our services are in high demand. Aging infrastructure across the globe requires sustained investment in inspection, engineering and geospatial services. Growing energy demand is driving investment in power delivery, grid reliability, LNG and other energy infrastructure. Increasing data consumption supports the construction, commissioning and technical services required for data centers. Finally, the digitization of the physical world is increasing demand for the data, analytics and asset intelligence capabilities that help clients better plan, operate and maintain their critical assets. These megatrends reinforce the strategy we outlined at our Investor Day. We are building a more integrated company, increasing our exposure to attractive end markets, expanding our capabilities across the asset life cycle and improving margins through a more favorable service mix, higher utilization, cost discipline and improved opportunity selection. We are also executing on our strategy to expand geographically where we have established technical capabilities and strong leadership. Our M&A pipeline remains active, and we see a number of compelling opportunities ahead that we expect will expand our geographies, end markets and capabilities in ways that are complementary to the existing platform. We continue to build on our position as a tech-enabled life cycle partner, supporting clients from planning through construction and ongoing operations. Bringing those capabilities together allows us to address a broader portion of client needs than a single service provider can. We are receiving positive feedback from clients as they learn more about the breadth of our capabilities. In many cases, clients have been pleased to learn that we can support multiple needs across the asset life cycle. We are seeing this model translate into commercial results as cross-selling becomes a TIC-wide opportunity with our teams engaging clients across multiple service lines. This is expanding our scope of work and creating opportunities that would not have existed as separate businesses. That momentum is reflected in our record combined C&E and GEO backlog, which increased 20% year-over-year to $1.18 billion, providing high visibility as we enter the second half of 2026 and into next year. A recent example illustrates how this works in practice. A municipal client awarded us multiple assignments to support the life cycle of its bridges and water pump stations, including the development of digital twins to assist with Engineering, Inspection & Mitigation. The work translates asset data and condition assessments into actionable engineering and operating programs, positioning our Inspection teams to support the resulting work. It also creates a repeatable model that we can take to bridge and infrastructure owners globally. That is the integrated platform working as intended. Next, our focus on essential high-demand end markets continues to accelerate our growth and margin expansion goals. Our buildings end market increased 28% year-over-year to $115 million in the quarter. Our industrial manufacturing and metals business grew over 40% to $56 million, while power and utilities increased 11% to $90 million. Aerospace and defense also saw significant momentum with revenue up over 40% to $10 million. These markets benefit from long-term investment requirements and technical complexity, and they align well with the breadth of our platform. Technology and AI are also creating opportunities to be more efficient across the business. TIC Solutions operates at significant scale with thousands of active client engagements, a productive field workforce and complex technical workflows across our 3 segments. We have a number of AI initiatives underway to improve knowledge access, streamline workflows and accelerate decision-making. For example, our procedure knowledge assistant allows field technicians to query internal procedures, while our engineering report assistant helps engineers search and summarize historical reports so prior technical knowledge can be applied more efficiently to current projects. We're also using document intelligence tools as a second set of eyes across contracts, purchase orders, RFPs and certifications, helping identify inconsistencies, risks and potential compliance issues. Over time, we expect the cumulative benefit of tools like these to support utilization, cost discipline and margin expansion. With that, I'll turn to segment performance, beginning with Consulting & Engineering. Consulting & Engineering delivered record second quarter revenue of $207 million, up 16.8% from the prior year. Growth was driven by continued strength in power and utilities, buildings, infrastructure and data centers, reflecting both favorable end market exposure and solid execution across the segment. Aging infrastructure is driving ongoing investment in highways, water, transportation and related public assets. Rising electricity demand is supporting spending across power generation, transmission, distribution and grid modernization. Larger developers are executing substation programs at scale, moving sequentially from one project to the next, and we are well positioned and winning in this space. Recent wins include grid hardening work for a 230,000-volt transmission infrastructure, demonstrating our team's highly technical capabilities and a multiyear agreement with a large California utility, representing one of the most expansive awards in the power business unit's history. Battery storage is an additional area of growing activity as clients increasingly pair power generation with storage investments. The depth and breadth of our power delivery capabilities, combined with the demand, we are seeing gives us confidence in the long-term growth of this end market. Data centers remained a significant contributor to growth. Trailing 12-month revenue reached $98 million, and our data center backlog has grown to over $110 million, providing strong line of sight into the second half of the year. We continue to layer in additional services as clients invest in mission-critical capacity, reliability and expansion. Overall, C&E continues to benefit from attractive structural demand, differentiated capabilities and a growing ability to serve clients across a broader set of technical needs. Turning to Inspection & Mitigation. Second quarter revenue was $297 million, down 5.5% from the prior year. As discussed on our prior earnings call, this performance was contemplated in our Q2 guidance and primarily reflected 2025 site losses, along with the timing of planned outage work that shifted from the second quarter into the second half of the year. While the quarter was below our long-term expectations for the segment, commercial indicators have significantly improved. Call-out work grew during the quarter, and we were awarded multiple new run and maintain sites and meaningful new awards supporting client capital projects. Our open commercial proposal pipeline for the next 12 months is robust and supports our expectation for stronger commercial momentum through the balance of the year, and we were encouraged to see June revenue turn positive year-over-year. Power and utilities, industrial manufacturing and midstream oil and gas infrastructure continue to show healthy demand. We are also extending the I&M platform into attractive adjacent end markets and geographies, including an emerging position in data centers and traditional infrastructure. As the combined platform grows, we are bringing I&M's inspection and integrity management capabilities to complementary asset classes, creating more opportunities to connect these services with our C&E and Geospatial offerings. Bridges and traditional public infrastructure represent a meaningful expansion of I&M's addressable market. We recently began a multiyear bridge Inspection and NDT engagement, bringing our inspection and integrity management capabilities to transportation assets for the first time at scale. The North American bridge market is large and aging and ongoing public safety and asset condition requirements create the same recurring mandated demand that underpins our core industrial business. We see this as a repeatable model that broadens the long-term opportunity for the segment. The team remains focused on converting this commercial momentum and opportunities into attractive end markets and into profitable growth through disciplined pricing, selective work pursuit, stronger regional accountability and more effective deployment of resources. As we move through the second half of 2026, we expect I&M to benefit from normal seasonal activity, continued site win conversion and further progress in commercial execution. The segment is positioned to return to a more consistent growth profile while maintaining margin discipline. Turning to Geospatial. The segment continued to be a strong performer in the second quarter with revenue of $81 million, up 7.9% from the prior year. Second quarter growth was primarily driven by power and utilities clients with additional momentum across our broader private sector markets. We are encouraged by that progress, which reflects the continued diversification of the segment across end markets and client types. We also completed a major high-profile pilot for federal offshore mapping during the quarter. The project integrated vessel-based survey work, autonomous underwater vehicle imagery, seafloor data collection and physical sample recovery of mineral-rich seabed nodules across a complex deep sea environment. The work supports national priorities related to domestic supply chain independence for rare earth and other critical minerals. It also reflects the technical depth of our Geospatial platform and our ability to serve as an integrator on complex assignments. Given the successful execution of this marquee project, we expect this work to result in significant follow-on opportunities as these programs move towards a broader operational phase. Improved margins in the quarter reflected project mix and timing. GEO revenue and margins reflect the timing and mix of large fixed-fee contracts, which can create variability between periods. We remain focused on asset utilization, disciplined project execution and growing the contribution from higher-value commercial and analytics work over time. We are also investing in technology-enabled digital asset management solutions that help clients convert geospatial data into more actionable information for asset planning, monitoring and maintenance. Overall, TIC Solutions is well positioned to benefit from the continued digitization of the physical world, spanning the built and natural environments. Growing demand from utility, infrastructure and commercial clients for better data and decision support plays directly into our capabilities, and our geospatial offerings can strengthen the broader platform by enabling more integrated data inspection, engineering and asset management solutions across the business. And with that, I'll turn the call over to Kristin to review our financial results, provide an update on integration and offer more detail on our outlook. Kristin Schultes: Thank you, Ben, and good morning, everyone. Unless otherwise noted, all prior year comparisons reflect results on a combined basis. C&E and Geospatial reflects legacy NV5 results and I&M reflects legacy Acuren to provide a more meaningful view of year-over-year performance. Our second quarter results were in line with our internal expectations. This was led by Consulting & Engineering and Geospatial, which delivered strong growth and margin expansion. Total second quarter revenue was $584 million, up 3.3% from $566 million. Growth was 3.2% in constant currency and organic growth was 2.5%. While reported growth was below the long-term potential of our business, record combined backlog, improving I&M commercial activity, favorable end market exposure and cross-selling momentum support stronger and more consistent growth over time. Adjusted gross profit was $223 million, up 7.1% from $209 million. Adjusted gross margin was 38.2% compared with 36.8%, up 135 basis points. The margin expansion reflected commercial selection and favorable business mix in C&E and GEO as well as improving operating execution across the platform. Adjusted SG&A was $129 million or 22.1% of revenue, compared with 21.2% last year. The increase reflected higher incentive compensation, indirect labor, legal reserves, benefit costs and overhead from acquired businesses, offset by net synergy savings. We remain focused on improving SG&A leverage through cost management, integration initiatives and growth across our business. Adjusted EBITDA was $95 million compared with $89 million in the prior year period. Adjusted EBITDA margin was 16.2% compared to 15.8%, reflecting a 40 basis point improvement and progress towards our margin expansion goals. Second quarter adjusted diluted earnings per share was $0.10. Turning to segment results. Consulting & Engineering contributed revenue of $207 million, up 16.8% year-over-year, with adjusted gross margin of 47.2%, up 75 basis points. The improvement reflected favorable mix and improved operating execution. Inspection & Mitigation generated second quarter revenue of $297 million, down 5.5% year-over-year. As Ben discussed, we had strong growth in call-out work during the quarter. This was more than offset by an approximately $30 million worth of combined impact from 2025 site losses and known shifts in planned outage activity. These factors were contemplated in our second quarter outlook. I&M adjusted gross margin was 28.3%, down 45 basis points, primarily due to lower outage activity in the period, which carries higher margins. Geospatial contributed revenue of $81 million, up 7.9% year-over-year, with adjusted gross margin of 51.5%, up 360 basis points. The improvement reflected favorable mix and project timing. Given the mix of larger fixed fee contracts in the segment, GEO revenue and margins can vary quarter-to-quarter based on project timing and delivery schedules. For the first 6 months of 2026, total revenue was $1.072 billion compared with $1.034 billion in the prior year period. On a combined basis, revenue increased 3.7%, including 2.3% organically. Adjusted gross profit was $403 million or 37.6%. Adjusted EBITDA was $153 million, representing a margin of 14.2%. Adjusted SG&A was $252 million or 23.5% of revenue. For the first half of the year, I&M generated revenue of $532 million, down 3% year-over-year with adjusted gross margin of 26.6%. Consulting & Engineering generated revenue of $394 million, up 13.3% with adjusted gross margin of 47.4%. Geospatial generated revenue of $147 million, up 6.3% with adjusted gross margin of 51.3%. From a capital deployment perspective, we completed 3 bolt-on acquisitions during the quarter, adding technical capabilities and broadening our geographic density across the platform. Capital expenditures were $20 million during the second quarter and $25 million for the first 6 months, approximately 2.4% of year-to-date revenue. During the quarter, we repriced our $1.6 billion term loan, reducing our interest rate by 25 basis points and reducing annual cash interest by approximately $4 million. We also repurchased approximately 1.9 million shares at an average price of $8.33 per share for a total of $16 million under our previously announced share repurchase program. These repurchases reflect our confidence in the long-term value of this business and our focus on high-return investments. Turning to the balance sheet. As of June 30, total liquidity was $474 million, including $362 million of cash and $112 million of available capacity under our revolving credit facility, net of letters of credit outstanding. Bank-calculated net leverage was 3.7x, with the increase primarily reflecting the seasonal working capital build and our share repurchases during the quarter. The second quarter is typically our largest use of cash, reflecting the seasonality of this business. As collections catch up with revenue in the second half, we expect cash conversion to increase. For the full year, we anticipate net interest expense of $95 million to $105 million, cash taxes of $25 million to $30 million and capital expenditures of $50 million to $65 million. We manage and evaluate free cash flow primarily on a full year basis, and we continue to expect healthy free cash flow generation over the full year. Turning to integration. The team has worked collaboratively over the past year to build a scalable integrated back office. That work continues to translate into measurable results. I want to thank the team for their continued effort and commitment. As of June 30, we have actioned $20 million worth of annualized run rate savings, up from $17 million at the end of the first quarter, and we remain on track to deliver the full $25 million run rate program by year-end. We recognized approximately $6 million of savings through the first half and expect approximately $15 million of realized savings in the full year of 2026. Turning to our outlook. We expect third quarter revenue of $610 million to $630 million and adjusted EBITDA of $100 million to $110 million. The outlook reflects improvement across I&M, including planned outage work, run and maintain activity and project demand, along with continued strength in Consulting & Engineering. Year-over-year, this represents 9% revenue growth and 16% growth in adjusted EBITDA at the midpoint. We are reiterating our full year 2026 guidance of $2.15 billion to $2.25 billion of revenue and $330 million to $355 million of adjusted EBITDA. As we continue to unlock the full potential of our business, we look forward to providing further updates next quarter. Our leading indicators are healthy. Our backlog is at a record level. Proposal and commercial activity remains strong and the integration program continues to generate both cost and commercial benefits. With that, I will turn the call to Robbie for his thoughts. Robert Franklin: Thank you, Kristin. The second quarter reinforced our conviction in the strategy we outlined at our Investor Day and supports our investment thesis in bringing together Acuren and NV5. Record backlog, early cross-sell results and continued synergy execution are tangible evidence that the integrated platform is creating value beyond what the businesses could generate independently. We are also executing with discipline on capital allocation. During the quarter, we reduced our cost of debt, opportunistically bought back 1.9 million shares and continue to build out the platform through strategic acquisitions. Our objective remains clear: deploy capital efficiently to strengthen the business while continuing to deleverage the balance sheet. The landscape for acquisition opportunities remains robust, and we have been disciplined in our approach to inorganic growth to strengthen our service offerings and geographic reach. The results this quarter support our confidence in the earnings power of the platform and the achievability of the long-term targets we have communicated. We remain focused on scaling the business responsibly, improving margins, converting earnings to cash flow and reducing leverage over time. With that, I'll turn the call back to Ben. Benjamin Heraud: Thank you, Robbie. Before we open the line for questions, I'll highlight 3 key takeaways from the quarter. First, our life cycle model is delivering. Cross-selling activity is increasing, and we are capturing new and expanding scopes of work that further strengthen client relationships. Second, the trajectory of inspection and mitigation is improving. Site and project wins are increasing, commercial momentum is building, and we expect the segment to benefit from planned outage activity and continued conversion of the opportunity pipeline in the second half. Third, our end markets remain supportive. Demand across infrastructure, data centers, utilities and industrial markets is resilient, while our record backlog provides strong visibility as we enter the balance of 2026. We remain focused on the long-term objectives shared at our Investor Day, including our 3/ 18 / 85 goal of $3 billion in revenue and 18% adjusted EBITDA margin and 85% free cash flow conversion by 2029. The progress this quarter on margin expansion, synergies, commercial integration and capital allocation supports our confidence in those objectives and in our full year 2026 guidance. I want to thank our teams across the organization for their focus on clients, execution and operating discipline. With that, operator, we are ready to take questions. Operator: [Operator Instructions] We'll go first to Chris Moore with CJS Securities. Christopher Moore: Just keep going on the cross-selling. I know you're just starting to tap that cross-selling opportunity. Is there any way to put, kind of, an approximate value on the cross-selling revenue expected in '26 and a growth factor in '27? Is it having any -- does it have any, kind of, meaningful impact on organic growth this year? Or just trying to size it a little bit better. Benjamin Heraud: Yes. While we're not sort of reporting on the cross-selling numbers itself, it is showing up in the record backlog numbers that we're talking about and the end market exposure that each of our segments are now getting through the cross-selling program. There's many, many examples of the great projects that we're winning because of the breadth of our services under this combined platform. And I think it's -- the momentum that we're getting in the connective tissue in the company is really starting to show up in those cross-selling results. Christopher Moore: Got it. And the 9% CAGR you guys outlined at Investor Day, I think Consulting & Engineering, 7% to 9%; Geospatial, 5% to 8%. So in terms of visibility over the next 12 months, is one -- does one have meaningful higher visibility than the other? Just trying to, kind of, understand how you're looking at it in the near term? And the second part of that question was, I know Geospatial has bounced around a little bit quarterly. The assumption is still that's likely to happen over time. Benjamin Heraud: Yes. With GEO, just with the large fixed price contract, that does move around a little bit more than the other segments. Obviously, C&E is performing extremely well. And with that backlog being up 20%, we've got really strong visibility into its continued growth. And I&M, we're very pleased to say it's on year-on-year growth now after the June and we continue to see that moving ahead. So pleased with that. And I think we're very happy to see I&M contribute to our overall growth as we move through the second half of the year and into next. Operator: We'll turn now to Kathryn Thompson with Thompson Research Group. Kathryn Thompson: Just first focusing on Consulting & Engineering segment was up 17%. Good to see strength there. Can you give a little bit more color on the levers for growth in that segment? In other words, more color on organic. You had mentioned cross-selling previously. How much did that play through and overall growth? And any other factors that we should take in consideration for driving that mid- to high teens growth? Benjamin Heraud: Yes. Thank you. Obviously, we're very happy with that growth. And data centers is driving a lot of it. But what I really like is that if you remove data centers from the growth, it's actually still growing at a pace of about 7%. And the vast majority of this is organic. If I was to point to other areas, power and utilities and infrastructure, kind of, in line with these megatrends we talked about at our Investor Day. And absolutely, cross-selling within the segment is contributing to the growth. There's still plenty of runway there for us to capitalize on that. Kristin Schultes: And Kathryn, we're also -- we've been very focused on utilization. We're seeing some improvements in utilization in Consulting & Engineering as well, which is driving growth. And additionally, the M&A pipeline is extremely robust, and there's a lot of really nice opportunities in the consulting and engineering space, which will help accelerate growth as well. Benjamin Heraud: Yes. Really large addressable market there for us. Kathryn Thompson: Okay. Perfect. And you had indicated previously that there are improving indicators in the Inspection segment. What are these? And just maybe a little bit more color on that. Benjamin Heraud: Yes. Obviously, the June being -- it's only 1 month, but being up year-on-year is really -- it's the first time we've been able to say that in a long time. Kristin Schultes: And I think this is a part of the plan and the model that we built. A big piece was the ramp effect of the site losses. Benjamin Heraud: Of the site losses in August, and we've talked about that. We're also able to talk about new sites winning. That's a very positive momentum. Many of those were in the Gulf Coast. We're taking price where we can on contracts. And really, I would just say that the structural changes that we have made are really starting to shine through. Kathryn Thompson: Okay. Perfect. And finally, just on backlogs up 20%. Where are you seeing those by project, by segment and by end market? Benjamin Heraud: Yes. I mean it's quite broad. It's across the business. Obviously, again, data centers represents a large portion of it. But other areas, buildings in general, not just data centers, areas like aviation and healthcare are nice growers for us. Power and utilities, infrastructure, industrial. And while small, aerospace and defense has been growing nicely for us recently. Operator: We'll turn now to Josh Chan with UBS. Joshua Chan: I guess the legacy NV5 businesses seem to be growing much faster than maybe the long term or at least historically. So I guess in broader terms, do you feel like you're in a period where those businesses can, kind of, have a stronger-than-normal growth driven by some of the factors that you're talking about? Benjamin Heraud: I think the backlog is an indicator of future growth, and that's at record levels. It's up 20%. And I think, obviously, the C&E performance in the quarter was very high but we still feel very, very good about its growth moving through the quarters and into next year. Just really -- we talked about it at the Investor Day, Josh, but those market tailwinds that we have in these megatrends are real and they really are driving the business. The digitization of the physical world, aging infrastructure and this huge increase of pressure on our power grid are all areas that we are capitalizing on and very well positioned to take. Joshua Chan: Sure. That's great to hear. And maybe a follow-up on data center. I think historically, that business has been more APAC oriented, but I think you mentioned some growth in the U.S., too. So are you having more success, kind of, coming into the U.S. and doing work here? Benjamin Heraud: Yes, we are. And I think I mentioned last quarter, really getting to a critical mass. It's now 25% of the revenue and continuing to grow as a proportion. So we're really pleased with that. Trailing 12 months revenues at just under $100 million of revenue. Just a nice little bright spot too, that I&M is really starting to see some exposure to the space, and we're rapidly seeing some growth, while it's very small at the moment, very pleased to see that I&M coming into play. And again, that's that cross-selling starting to work. Joshua Chan: Excellent. That's great to hear and congrats on the good quarter. Operator: We'll move now to Andy Wittmann with Baird. Andrew J. Wittmann: So I just want to ask a couple of questions on the guidance and then maybe I'll do an accounting question. So I guess just as I look at the guide here, it implies -- in the revenue guide, it looks like it implies just a slight step-up to hit the midpoint in the second half of the year. This I&M, kind of, timing slippage out of 2Q, I think you previously said in 3Q, now you're saying second half. Has that work started maybe even here now that we're in early August? Or has it been scheduled? I'm just trying to see the kind of visibility that you might get on that. Obviously, I heard the comments on commercial indicators, but there was some defined work that's been slipping. I'm just wondering kind of the status. And is that one of the key variables that causes some of the acceleration that you're basically implying here to the midpoint of the second half guidance? Benjamin Heraud: Yes, absolutely. The teams are ramping up for that work as we speak. Kristin Schultes: Yes. And I think -- thanks, Andy. I think our second quarter results helped enforce and enhance our confidence in the full year guidance. When we launched the guidance earlier this year, 5 or 6 months ago, we talked about 4% top line growth, 10% growth to adjusted EBITDA. Those -- the assumptions that went into that included things like we planned on winning new sites in I&M. We're winning new sites in I&M. We planned on growing backlog in C&E and GEO, and we're growing backlog at 20%. We planned on improving margins with the synergy program and utilization, and we're seeing that. We had 40 basis points of improvement in the quarter. And we also planned on diversifying end markets and Ben chatted about or mentioned that a bit ago. So I think largely, the year is playing out as we had planned. And so we're excited about a strong delivery for the year. Andrew J. Wittmann: Got it. Okay. So just maybe kind of a similar question on -- maybe on the margin side then, Kristin, like I guess the second half implied margin percentage is like in the high 16s at the midpoint, which is a pretty good ramp over the first half performance. Obviously, you're going to have the contribution of those synergies and that makes sense. Is there -- and the business is seasonal as well. So I understand those factors. Are there other things besides that? Is it just really the mix of contracts that need to help you get to that margin level? How would you just define what needs to fall into place to hit that -- the accelerated margins in the second half besides those? Kristin Schultes: Yes, good question. I think there's a little over 100 basis points of improvement baked into the second half. I would put it in the category of mix and execution. So we are seeing growth in the higher-margin end markets. We're seeing improvement in utilization and also just seeing the metrics, the KPIs that we look at internally point us in that direction. So we take the internal forecasting very seriously and have been very thoughtful about the guidance we put forward. Andrew J. Wittmann: Okay. And then I just wanted to finish up with this one. I'm going to apologize a little bit for it, but because it's a little bit detailed on the accounting. But in Consulting & Engineering and there's this idea of fixed price contracts that get -- you have a year under purchase accounting to mark the value and the profitability of those contracts to market. In this quarter, it appears that you revalued some contracts. The effect of that basically increases goodwill. It decreases your contract assets and increases your contract liabilities. It looks like that happened this quarter. Basically, what that means is that there was a change in the profitability of some work that was -- that you are doing under a fixed price contract. So my question is this, what types of projects or what project drove that? Is this a factor to the second quarter cash flow because basically, these contracts seem to be costing you more than you originally expected. And then there's another knock-on effect of the crazy accounting that goes with these things that has the effect of actually improving your gross margins. I guess the industry, they call it normal margin, normalized margin on these contracts. Do you know or happen to estimate the benefit to your gross margins from these contracts, which are actually getting marked down? Sorry for the complexity, but we've just seen these in the past, and I think these are worth understanding. Kristin Schultes: Yes. First, I want to say thank you for such a detailed accounting question. Look, we have 1 year as a measurement period on an acquisition. This is a very large acquisition. It's not uncommon for there to be measurement period adjustments in acquisitions in the first year. This does relate to project accounting from the legacy NV5 business. I would chalk it up more than anything to accounting noise. The $20 million you mentioned on goodwill is on a $3 billion balance sheet goodwill and intangible line item. The offset was construction assets or contract assets and liabilities, like you said, had an immaterial impact from a P&L perspective in the quarter. And we -- it's not projected to have -- it isn't projected to have an impact on gross margins going forward. Operator: We'll hear now from Alex Rygiel with Texas Capital. Alexander Rygiel: Can you speak to any headwinds you're seeing that might be impacting your business from AI? And is there any scenario where larger players like yourself increasingly take share from smaller players that may not have the capital to keep up with the investment needs to create AI tools? Benjamin Heraud: Yes, we certainly do see that as a long-term opportunity. And as we do our bolt-on acquisitions and implement on that, it's something that we can layer in and increase the value of those. We're leaning into AI. We're deploying it on multiple work streams. We haven't seen it impact the pricing of our work or affect any, sort of, downward trajectory on our ability to win work. We're excited about it. And we've mentioned many times, it is an absolute opportunity for us to improve the efficiency of our business both through shared services and back of house piece of our business, but we really have some great examples of it flowing through our engineering work. I was with one of our structural engineers in the office recently, and he was just talking about the ability that he can go home at night and leave AI working on his drawings and he comes back and he can, sort of, pick it up from there. So it's pretty exciting stuff that we have going on in that space. Alexander Rygiel: That's great to hear. And then I also felt like I heard an increased excitement with regards to M&A. So maybe if you could give us a little bit more color on that. And are the sellers more interested in selling because of macroeconomic conditions? Are pricing -- does pricing look more favorable to the buyer? Any color would be helpful. Kristin Schultes: Yes. Thank you. Good question, something that we are very passionate about. I think we laid this out at Investor Day, but our model reflects deploying between $100 million and $150 million of capital towards bolt-on M&A annually. Very confident in our ability to do that this year. We have -- we closed 3 small ones during the quarter. I think these sellers typically like the story we have to tell. We're a forever home for their business. We provide career opportunities for their team in a way that they would not see otherwise, and we can help accelerate growth. We closed on an acquisition just -- a smaller acquisition just last month. And the way that we saw the team deploy on cross-selling capabilities, resource sharing, equipment sharing was just really, really phenomenal to see and really helps solidify the opportunities we have. So very excited about what we're seeing. The multiples on these smaller deals are still accretive, 5 to 7x. So very positive. Operator: We'll move now to Jeff Martin with ROTH Capital Partners. Jeff Martin: I wanted to touch on the funding environment. A lot of the C&E is agency driven. I know in GEO, you're focused on growing the commercial opportunity. So maybe you could just discuss on the agency level, how the funding environment works. And then tying into that, any look under the hood on when follow-on opportunities with that rare earth project might start to come in? Benjamin Heraud: Okay. I'll try and answer the 3 questions. Starting with the follow-on opportunities. We've got 3, sort of, active discussions around 3 other areas that we could explore for that. And then the other follow-on effect of that, if we think of it as a pilot and it's being proved out is sort of the work being privatized and us being very well positioned to support that work in the regions that we identify these rare earth minerals. So quite excited about the follow-on potential for that. The diversification of GEO is certainly working. Our commercial work was up 13% year-on-year in the quarter for Geospatial. So quite happy with that and power and utilities is a big driver of us diversifying away from the federal work as well. And then in terms of the funding environment, again, I'll just point to the backlog. We're really not seeing any slowdown in that work. And I think it really just points again to those megatrends, the aging infrastructure and the increase of demand on the power grid. This is work that absolutely needs to get done, and we're in a very strong position to do it. Jeff Martin: Very good. My other question is on LNG. I know there are some large opportunities down the pipeline. Just curious if you could give us an update there and any details on potential timing would be helpful. Benjamin Heraud: Yes. We were -- there was one sort of a bit of a drag on C&E through the first half of the year, and that's really starting to ramp up. We actually have a very high backlog of work over the next 3 years for that business. So I think with a lot of what's going on in the utility space and LNG being a hot topic, it's really starting to drive the work for that group. And then I&M, we actually just landed a $30 million multiyear MSA for some LNG work that's hot off the press. So quite excited about that to really set us up for a strong 2027. Operator: [Operator Instructions] We'll turn next to Stephanie Moore with Jefferies. Stephanie Benjamin Moore: I wanted to circle back on just the organic growth here. So it'd be helpful if you could talk about maybe the volume and pricing performance in the quarter. Any updates on pricing opportunities going forward? But also, I think it would be great to maybe if you could talk about cadence of organic growth in the back half. I do believe we'll be lapping some contract losses in August. Obviously, there's some cross-selling activity that's kind of brewing. So I would love to just get a sense on just cadence and momentum as we get through the back half of the year. Benjamin Heraud: Yes. So for I&M specifically, technical yields are -- the amount we're getting per hour is up. So we are taking price within that, that's supporting the organic growth. We lapped those lost sites in August. So we're already starting to see year-on-year growth, and that's just really going to compound organically as we get through that and start to win new sites. Within the other segments, the backlog is probably -- I know I keep going on about it, but it is just a great indicator of how we see organic growth moving ahead. It really is a result of the great work that our teams are doing with their clients and the follow-on work that we get. Stephanie Benjamin Moore: Perfect. And then I just wanted to follow up on the M&A question as well. Great to see you guys do a couple of tuck-in deals during the quarter. As you think about the consulting or the I&M side of your business, so maybe the legacy Acuren or the NV5 side, where would be your risk appetite for incremental M&A in either side or maybe it's both? Benjamin Heraud: Yes. Look, I think if you think of total addressable market, the C&E, we sort of jokingly say it's infinite, but it is absolutely huge. So we do expect more opportunities, and we're certainly seeing that. That said, there are many opportunities in front of us in the Geospatial and I&M side. So we're exploring it on all avenues. I would just say if we looked at long-term trends, C&E is probably where we're going to see most of the opportunity. Robert Franklin: Yes. Sorry, go ahead, Kristin. Kristin Schultes: Yes, I was just going to add that we're very thoughtful on identifying and selecting acquisitions in terms of which opportunities have the highest return from a cross-selling growth perspective. So it's really about the strategic fit and the upside for growth versus which segment it is in. Robert Franklin: Yes, Stephanie, the only thing I would add is we're very focused on using M&A to execute sort of our business strategies, whether that be geographic expansion, additional solutions or exposure to end markets. and that's going to be across, sort of, all 3 segments. We have a very large addressable market and an even bigger sort of target universe of directions we can go. So we're being very targeted and specific looking at where we have the highest ROI for our total business to sort of capitalize on these growth trends. Operator: We'll hear now from Brendan Shea with JPMorgan. Tomohiko Sano: Actually, this is Tomo. So I wanted to ask you about I&M. Revenue was down 5.5% year-over-year on site losses and outage timing. Beyond the second half seasonality recovery, what supports a return to consistent growth? How much is structural versus deferred into second half? And if you could share any leading indicators that we can confirm some of your conviction there? Benjamin Heraud: Yes. Look, if you set aside the outage and site losses within the quarter, the business was actually up 4%. So I would just -- that really, to me, points to the strength across the wider segment. As I sort of said earlier, we're now able to talk about new sites that we've been winning and year-on-year growth. So with all of that, I would just also point to the commercial activity. The pipeline of new sites that we have is the highest that I've seen it since been involved with the business. And I would just say, in general, the team is on the front foot commercially. I attended a leadership meeting, Kris and I recently and just the feeling in the room and the collaboration and the cross working going on, it's just really is a turnaround that I'm very pleased to see from the team. Tomohiko Sano: And on a follow-up, you're scaling I&M into bridges, public infrastructures. How do margins compare to your recent high 20s I&M adjusted gross margin? And then what incremental fixed price execution risks and the mitigants should we underwrite? Benjamin Heraud: Yes. It's absolutely part of our strategy is to grow into these higher end markets and Bridges is absolutely an example of that and just leveraging the relationships that the NV5 business has and vice versa, executing on that is what's driving us into these new end markets, which to your question, we do see higher margins. Kristin Schultes: And I would add, Tomo, that the -- one of the service lines within the Inspection & Mitigation segment is work done at heights and rope access technologies, and that piece of our business was up almost 10% in the quarter, and that's another area where we're demonstrating diversification within the segment. Operator: And as there are no additional questions in queue at this time, I'd like to turn the floor back over to management for any additional or closing comments. Benjamin Heraud: Thank you, everyone. Thank you for your questions and your continued interest in TIC Solutions. Before we close, I'd just like to leave you with a few final thoughts. We're really starting to see the full potential of this combined platform being unlocked. The cross-selling is working. Our backlog is at record levels, and all our segments are diversifying into new end markets. I'm extremely proud of the way our teams are collaborating and the entrepreneurial spirit is running deep in this organization, and it's really showing up. So thank you, everyone, and have a good day. Operator: Ladies and gentlemen, that will conclude today's event. Thank you for your participation. You may disconnect at this time, and have a wonderful rest of your day. Before you buy stock in Tic Solutions, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Tic Solutions wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $400,209!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,375,393!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Tic Solutions. The Motley Fool has a disclosure policy. TIC Solutions (TIC) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in TIC Solutions, Inc? Here are five stocks we like better. Second-quarter results improved: Revenue rose 3.3% to $584 million, while adjusted EBITDA increased to $95 million and the margin expanded to 16.2%. Consulting & Engineering and Geospatial growth offset a decline in Inspection & Mitigation. Backlog and end-market demand remain strong: Consulting & Engineering and Geospatial backlog reached a record $1.18 billion, up 20% year over year, supported by demand from infrastructure, power modernization, LNG, data centers, buildings and aerospace. Guidance was reaffirmed: TIC Solutions expects third-quarter revenue of $610 million–$630 million and adjusted EBITDA of $100 million–$110 million, while maintaining full-year revenue guidance of $2.15 billion–$2.25 billion and EBITDA guidance of $330 million–$355 million. TIC Solutions (NYSE:TIC) reported second-quarter revenue of $584 million, up 3.3% from $566 million a year earlier on a combined basis, as growth in its Consulting & Engineering and Geospatial businesses offset lower revenue in Inspection & Mitigation. Adjusted EBITDA rose to $95 million from $89 million, while adjusted EBITDA margin improved 40 basis points to 16.2%. Adjusted gross margin increased 135 basis points to 38.2%, which Chief Financial Officer Kristin Schultes attributed to commercial selection, favorable business mix in Consulting & Engineering and Geospatial, and improved operating execution. Adjusted diluted earnings per share were $0.10. → No Hangover: Revisiting Microsoft One Week After Earnings “Our second quarter demonstrated solid execution across the platform,” Chief Executive Officer Ben Heraud said, citing double-digit Consulting & Engineering growth, Geospatial growth, improving commercial activity in Inspection & Mitigation, and rising cross-selling activity. Combined Consulting & Engineering and Geospatial backlog reached a record $1.18 billion, up 20% year over year. Heraud said the backlog provides visibility into the second half of 2026 and next year, while also reflecting increased cross-selling across the company’s service lines. → MarketBeat Week in Review – 08/03 - 08/07 The company cited a recent municipal-client assignment involving bridges and water pump stations as an example of its integrated approach. TIC Solutions said it will develop digital twins and use asset data and condition assessments to support engineering, inspection and mitigation programs. Management pointed to continued demand from aging infrastructure, power-grid modernization, LNG projects, data centers and asset-management applications. Quarterly revenue in the buildings end market increased 28% to $115 million, while industrial manufacturing and metals revenue rose more than 40% to $56 million. Power and utilities revenue increased 11% to $90 million, and aerospace and defense revenue rose more than 40% to $10 million. → Why the Landlord of the AI Boom Could Outlast the Chipmakers TIC Solutions also described several internal artificial-intelligence initiatives, including tools intended to help field technicians access procedures, enable engineers to search historical reports, and review documents for potential inconsistencies, risks and compliance matters. Heraud said the company expects such tools over time to support utilization, cost discipline and margins. Consulting & Engineering revenue increased 16.8% to a second-quarter record of $207 million. Adjusted gross margin for the segment rose 75 basis points to 47.2%, driven by favorable mix and improved operating execution. Heraud said segment growth was supported by power and utilities, buildings, infrastructure and data-center work. Data-center revenue reached $98 million on a trailing-12-month basis, and its data-center backlog exceeded $110 million. During the call, Heraud said that excluding data centers, Consulting & Engineering was still growing at roughly a 7% pace, with most of the segment’s growth organic. The company highlighted recent power-sector awards, including grid-hardening work for 230,000-volt transmission infrastructure and a multiyear agreement with a large California utility. It also said battery-storage work is becoming an area of growing activity. Geospatial revenue rose 7.9% to $81 million, led primarily by power and utilities clients and supported by broader private-sector demand. Segment adjusted gross margin expanded 360 basis points to 51.5%, reflecting favorable mix and project timing. Schultes cautioned that revenue and margins can vary between periods because of the timing and delivery schedules of larger fixed-fee contracts. During the quarter, the Geospatial business completed a federal offshore-mapping pilot that combined vessel-based survey work, autonomous underwater vehicle imagery, seafloor data collection and physical sample recovery. Heraud said the project could create follow-on opportunities as related programs move toward a broader operational phase. He added during the question-and-answer session that the company was in three active discussions involving other areas for the work. Inspection & Mitigation revenue declined 5.5% to $297 million. The decline reflected approximately $30 million of combined impact from 2025 site losses and planned outage work that shifted from the second quarter into the second half, according to Schultes. Segment adjusted gross margin declined 45 basis points to 28.3%, primarily because planned outage work carries higher margins. Management said the result was contemplated in its second-quarter outlook and that commercial conditions improved during the period. Fallout work increased, TIC Solutions received multiple new run-and-maintain site awards and it won additional capital-project work. Heraud said June revenue turned positive year over year and that, excluding site losses and outage timing, the business was up 4% in the quarter. The company is also expanding the segment’s inspection and integrity-management capabilities into bridges, public infrastructure and data centers. It recently started a multiyear bridge inspection and nondestructive testing engagement, which Heraud characterized as the first scaled application of those services to transportation assets. Management said these newer areas are expected to carry higher margins than the segment’s recent high-20% adjusted gross margin range. In addition, Heraud said TIC Solutions recently secured a $30 million multiyear master services agreement for LNG work, which he said could help support 2027. TIC Solutions completed three bolt-on acquisitions during the quarter. It also repriced its $1.6 billion term loan, lowering the interest rate by 25 basis points and reducing annual cash interest expense by approximately $4 million. The company repurchased about 1.9 million shares at an average price of $8.33 per share, spending $16 million under its repurchase program. As of June 30, the company had $474 million of total liquidity, including $362 million of cash and $112 million of available revolver capacity net of outstanding letters of credit. Bank-calculated net leverage was 3.7 times. Schultes said the increase was primarily due to seasonal working-capital needs and share repurchases, adding that cash conversion is expected to increase in the second half as collections catch up with revenue. The company said it had actioned $20 million of annualized run-rate integration savings as of June 30, up from $17 million at the end of the first quarter. It remains on track to reach $25 million of annualized savings by year-end and expects about $15 million of realized savings during 2026. TIC Solutions expects third-quarter revenue of $610 million to $630 million and adjusted EBITDA of $100 million to $110 million. It reaffirmed full-year guidance for revenue of $2.15 billion to $2.25 billion and adjusted EBITDA of $330 million to $355 million. Management also reiterated its longer-term 2029 framework targeting $3 billion in revenue, an 18% adjusted EBITDA margin and 85% free-cash-flow conversion. Acuren Group Inc (NYSEAMERICAN:TIC) is a leading provider of non‐destructive testing (NDT), inspection, engineering and consulting services to the energy, petrochemical, manufacturing and infrastructure sectors. The company employs a range of advanced testing techniques—such as ultrasonic, radiographic, magnetic particle, liquid penetrant, eddy current and acoustic emission—to evaluate the integrity of pressure vessels, pipelines, storage tanks and other critical assets. By combining field inspections with laboratory analysis, Acuren helps clients identify defects, prevent equipment failures and meet regulatory requirements. In addition to core NDT capabilities, Acuren offers specialty engineering and consulting services including fitness‐for‐service assessments, corrosion under insulation surveys, mechanical integrity programs, failure analysis and field machining. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "TIC Solutions Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by double-digit growth in Consulting & Engineering (C&E) and strong Geospatial (GEO) results, offsetting planned site losses in Inspection & Mitigation (I&M). Management attributes the 20% year-over-year increase in combined C&E and GEO backlog to successful cross-selling and high demand for aging infrastructure and energy transition services. The 'life cycle partner' model is gaining traction, allowing the company to capture broader scopes of work by integrating data, engineering, and inspection services. Margin expansion of 40 basis points was achieved through a more favorable service mix, improved utilization, and disciplined opportunity selection. Strategic focus remains on high-growth end markets including data centers, power delivery, and the digitization of physical assets. Management is utilizing AI initiatives, such as procedure knowledge assistants and document intelligence, to streamline technical workflows and improve field technician efficiency. Full-year 2026 guidance is reiterated, assuming stronger commercial momentum in I&M as the company laps 2025 site losses in August. Third quarter outlook anticipates 9% revenue growth and 16% adjusted EBITDA growth at the midpoint, driven by seasonal outage work and project demand. The company is tracking toward its '3 / 18 / 85' long-term goal, targeting $3 billion in revenue and 18% adjusted EBITDA margin by 2029. Integration efforts are expected to deliver the full $25 million annualized run-rate savings program by the end of 2026. M&A strategy remains active with a target of $100 million to $150 million in annual capital deployment for bolt-on acquisitions. I&M revenue declined 5.5% due to approximately $30 million in combined impact from 2025 site losses and the shifting of planned outage work to the second half. The company repriced its $1.6 billion term loan, reducing the interest rate by 25 basis points and saving approximately $4 million in annual cash interest. A $20 million measurement period adjustment to goodwill related to legacy NV5 project accounting was characterized by management as 'accounting noise' with no projected impact on future gross margins. Net leverage increased to 3.7x, reflecting seasonal working capital builds and $16 million in share repurchases during the quarter. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management declined to provide specific revenue figures for cross-selling but noted it is a primary driver of the record $1.18 billion backlog. Cross-selling is expanding the company's addressable market by providing entry into adjacent sectors like bridge inspection for the I&M segment. Data center revenue reached a trailing 12-month total of $98 million, with the backlog growing to over $110 million. While historically APAC-oriented, the company is seeing significant success scaling these services in the U.S. market, with U.S. work now representing 25% of data center revenue. Management cited June revenue turning positive year-over-year as a key inflection point following a period of contraction. The commercial proposal pipeline for the next 12 months is described as the 'highest' management has seen, supported by new multi-year MSA wins in the LNG sector. Management views AI as a tool for internal efficiency and a differentiator against smaller competitors who lack capital for similar investments. Current AI deployment has not negatively impacted contract pricing but is improving engineering productivity and report generation speed.

Acuren Corporation (TIC) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.69%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced a loss of $0.07, delivering a surprise of -450%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Acuren Corporation, which belongs to the Zacks Technology Services industry, posted revenues of $584.35 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.43%. This compares to year-ago revenues of $313.92 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Acuren Corporation shares have lost about 19.1% since the beginning of the year versus the S&P 500's gain of 12.8%. While Acuren Corporation has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Acuren Corporation was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.19 on $594.65 million in revenues for the coming quarter and $0.37 on $2.2 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, QXO, Inc. (QXO), has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -18.2%. The consensus EPS estimate for the quarter has been revised 20.7% higher over the last 30 days to the current level. QXO, Inc.'s revenues are expected to be $3.21 billion, up 68.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Acuren Corporation (TIC) : Free Stock Analysis Report QXO, Inc. (QXO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Total Revenue: $584 million in Q2 2026, up 3.3% from $566 million in the prior year; organic growth was 2.5%. Adjusted Gross Profit: $223 million, up 7.1% from $209 million; adjusted gross margin expanded 135 basis points to 38.2%. Adjusted EBITDA: $95 million, up from $89 million in the prior year; adjusted EBITDA margin improved 40 basis points to 16.2%. Adjusted Diluted EPS: $0.10 for the second quarter. Consulting and Engineering (C&E) Revenue: Record $207 million, up 16.8% year-over-year; adjusted gross margin was 47.2%, up 75 basis points. Inspection and Mitigation (I&M) Revenue: $297 million, down 5.5% year-over-year; adjusted gross margin was 28.3%, down 45 basis points due to lower outage activity. Geospatial (GEO) Revenue: $81 million, up 7.9% year-over-year; adjusted gross margin was 51.5%, up 360 basis points. Combined Backlog (C&E and GEO): Record $1.18 billion, up 20% year-over-year. Data Center Revenue: Trailing 12-month revenue reached $98 million; backlog grew to over $110 million. Buildings End Market Revenue: $115 million, up 28% year-over-year. Industrial, Manufacturing and Metals Revenue: $56 million, up over 40% year-over-year. Power and Utilities Revenue: $90 million, up 11% year-over-year. Aerospace and Defense Revenue: $10 million, up over 40% year-over-year. Adjusted SG&A: $129 million, or 22.1% of revenue, compared with 21.2% last year. Capital Expenditures: $20 million in Q2 2026; $25 million for the first six months. Share Repurchases: Approximately 1.9 million shares repurchased at an average price of $8.33 per share, totaling $16 million. Total Liquidity: $474 million as of June 30, including $362 million of cash and $112 million of available credit capacity. Net Leverage: Bank calculated net leverage was 3.7 times. Q3 2026 Outlook: Revenue of $610 million to $630 million and adjusted EBITDA of $100 million to $110 million. Full Year 2026 Guidance: Revenue of $2.15 billion to $2.25 billion and adjusted EBITDA of $330 million to $355 million. Warning! GuruFocus has detected 2 Warning Signs with TIC. Is TIC fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record combined C&E and geospatial backlog increased 20% year-over-year to $1.18 billion, providing strong visibility for the second half of 2026 and into next year. Consulting and Engineering delivered record second quarter revenue of $207 million, up 16.8% year-over-year, driven by strength in power, utilities, buildings, infrastructure, and data centers. Geospatial segment revenue grew 7.9% year-over-year to $81 million, with adjusted gross margin expanding 360 basis points to 51.5%. Cross-selling initiatives are gaining momentum, leading to expanded client scopes and new opportunities, such as a municipal client awarding multiple assignments for bridge and water pump station life cycle support. The company repriced its $1.6 billion term loan, reducing interest rates by 25 basis points and saving approximately $4 million in annual cash interest, while also repurchasing 1.9 million shares at an average price of $8.33. Integration synergies are on track, with $20 million in annualized run-rate savings actioned as of June 30, up from $17 million at the end of Q1, and on track to deliver the full $25 million program by year-end. Inspection and Mitigation commercial indicators improved significantly, with June revenue turning positive year-over-year and a robust open commercial proposal pipeline for the next 12 months. The company is expanding into new high-margin end markets, such as bridge inspection and data centers, which are expected to drive future growth and margin expansion. Inspection and Mitigation revenue declined 5.5% year-over-year to $297 million, impacted by 2025 site losses and timing of planned outage work shifted to the second half. Total company revenue growth was modest at 3.3% year-over-year, below the long-term potential, with organic growth of only 2.5%. Adjusted SG&A increased to 22.1% of revenue from 21.2% last year, reflecting higher incentive compensation, indirect labor, legal reserves, and benefit costs. Adjusted EBITDA margin declined 40 basis points year-over-year to 16.2%, despite overall margin expansion, due to lower-margin I&M performance. Bank calculated net leverage increased to 3.7 times, primarily due to seasonal working capital build and share repurchases during the quarter. Geospatial segment revenue and margins can vary significantly quarter-to-quarter due to the timing and mix of large fixed-fee contracts, creating unpredictability. The company faces ongoing challenges in converting commercial momentum in I&M into consistent profitable growth, with the segment expected to return to growth only in the second half. There is potential for measurement period adjustments related to the acquisition, which could create accounting noise and impact financial reporting. Q: Can you provide more color on the levers for growth in the Consulting and Engineering (C&E) segment, which grew 16.8%? How much of this was organic, and what role did cross-selling play?A: CEO Benjamin Heraud stated that while data centers are a major driver, the segment is still growing at about 7% even when excluding them. The vast majority of this growth is organic, with strength in power and utilities and infrastructure. CFO Kristin Schultes added that improvements in utilization are also driving growth, and the M&A pipeline is robust with opportunities to accelerate growth further. Q: What are the improving commercial indicators in the Inspection and Mitigation (I&M) segment, and what supports a return to consistent growth beyond the second-half seasonality recovery?A: CEO Benjamin Heraud noted that June revenue turned positive year-over-year for the first time in a while, and the company is winning new sites, particularly in the Gulf Coast. He highlighted that the pipeline of new sites is the highest he has seen, and the team is taking price where possible. CFO Kristin Schultes added that the "wrap effect" of the 2025 site losses is a key part of the model, and the structural changes made are starting to show results. Q: Can you speak to the impact of AI on the business, and is there a scenario where larger players increasingly take share from smaller ones?A: CEO Benjamin Heraud stated that AI is a long-term opportunity and the company is deploying it across multiple work streams, such as the Procedure Knowledge Assistant and Engineering Report Assistant. He has not seen it impact pricing or the ability to win work, and believes it will improve efficiency. He also sees it as a way to increase the value of bolt-on acquisitions. Q: There was a measurement period adjustment in the quarter related to fixed-price contracts in C&E. What drove this, and what is the impact on margins and cash flow?A: CFO Kristin Schultes explained that this is a normal measurement period adjustment for a large acquisition, relating to project accounting from the legacy MD5 business. She characterized it as "accounting noise" with an immaterial impact on the P&L for the quarter, and it is not projected to impact gross margins going forward. Q: Could you provide an update on the LNG opportunities and the timing of the follow-on work for the rare earth minerals project?A: CEO Benjamin Heraud stated that LNG was a slight drag on C&E in the first half but is now ramping up, with a high backlog of work over the next three years. He also announced a new $30 million multi-year NSA for LNG work in the I&M segment, which sets them up for a strong 2027. Regarding the rare earth project, there are three active discussions for follow-on opportunities, and the company is well-positioned if the work is privatized. Q: Can you provide more color on the M&A environment and whether sellers are more interested due to macroeconomic conditions?A: CFO Kristin Schultes stated the company is confident in deploying $100-$150 million annually towards bolt-on M&A. Sellers are attracted to the "forever home" story and career opportunities. She noted that multiples on smaller deals remain accretive at 5-7 times. Executive Chairman Robbie Franklin added that M&A is focused on executing business strategies, whether that be geographic expansion, additional solutions, or end-market exposure. Q: Can you discuss the volume and pricing performance in the quarter, and the cadence of organic growth in the back half of the year?A: CEO Benjamin Heraud stated that for I&M specifically, technical yield (amount per hour) is up, indicating they are taking price. The company lapped the lost sites in August and is already seeing year-on-year growth, which will compound organically. For other segments, the record backlog is a great indicator of future organic growth. Q: What is the status of the planned outage work that shifted from Q2, and is it a key variable for the acceleration implied in the second-half guidance?A: CEO Benjamin Heraud confirmed that teams are ramping up for that work. CFO Kristin Schultes added that the Q2 results reinforced confidence in the full-year guidance, as the assumptions made at the start of the year, such as winning new sites, growing backlog, and improving margins, are all playing out as planned. Q: What are the key drivers for the margin expansion expected in the second half of the year?A: CFO Kristin Schultes stated that there is a little over 100 basis points of improvement built into the second half, driven by mix and execution. This includes growth in higher-margin end markets, improvement in utilization, and internal KPIs pointing in that direction. Q: How is the diversification of the Geospatial (GEO) segment progressing, and what is the funding environment like for public agency-driven work?A: CEO Benjamin Heraud stated that commercial work in GEO was up 13% year-on-year, with power and utilities being a big driver of diversification away from federal work. Regarding funding, he pointed to the record backlog and stated they are not seeing any slowdown, driven by the megatrends of aging infrastructure and power grid demand. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

- Delivered strong second quarter revenue of $584.3 million - - Reported net loss of $13.3 million and Adjusted EBITDA of $94.8 million - - Achieved record combined Consulting & Engineering and Geospatial backlog of $1.18 billion, up 20% YoY - - Reaffirms full-year 2026 outlook - HOUSTON, August 06, 2026--(BUSINESS WIRE)--TIC Solutions, Inc. (NYSE: TIC) ("TIC Solutions" or the "Company"), a leading provider of tech-enabled asset integrity, engineering, and geospatial services, today reported its financial results for the three and six months ended June 30, 2026. The Company’s second quarter 2026 results include the financial performance of NV5 Global, Inc. ("NV5") for the period following our acquisition of NV5 on August 4, 2025 (the "NV5 Acquisition"). All periods prior to August 4, 2025 reflect legacy Acuren results only and therefore exclude any contribution from NV5 which materially affected year-over-year comparability of our financial results for the periods presented. Ben Heraud, CEO of TIC Solutions, stated: "During the second quarter, we delivered solid execution across the platform, with strong growth in Consulting & Engineering and Geospatial, while Inspection & Mitigation is beginning to show improving commercial trends. Our performance reflects the fundamental strength of our lifecycle model, highlighted by record revenue in our Consulting & Engineering segment and a record backlog that has grown 20% year-over-year to nearly $1.2 billion. "This backlog, expanding cross-selling activity, and continued progress on integration give us momentum as we enter the second half of 2026. We are seeing significant demand across our key end markets—particularly in Industrials, Power & Utilities, and Data Centers. As we scale our integrated platform, we are focused on converting our commercial momentum into profitable growth, margin expansion, and progress toward the long-term 3/18/85 financial targets we communicated at our Investor Day." Second Quarter 2026 Highlights Second quarter 2026 revenue was $584.3 million, compared to second quarter 2025 revenue of $313.9 million, representing an increase of 86%, primarily reflecting the inclusion of NV5 results. On a combined basis, revenue increased 3.3% year-over-year in the quarter, including 2.5% organic growth. Second quarter 2026 net loss of $13.3 million compared to second quarter 2025 net loss of $0.2 million. Second quarter 2026 diluted loss per share was $(0.06). Adjusted diluted EPS was $0.14. Second quarter 2026 Adjusted EBITDA of $94.8 million, compared to second quarter 2025 Adjusted EBITDA of $54.6 million, an increase of 74% year-over-year, primarily reflecting the inclusion of NV5 results. As of June 30, 2026, the Company had total liquidity of $473.5 million, including cash and cash equivalents of $362.4 million plus undrawn capacity on the Company’s $125.0 million revolving credit facility. Total term loan debt was $1.6 billion, net of unamortized debt issuance costs at quarter end. Robert A.E. Franklin, Executive Chairman of TIC Solutions, commented: "The second quarter reinforced our conviction in the strategy we outlined at our Investor Day. Record backlog, early cross-sell results, and continued synergy execution are tangible evidence that the integrated platform is creating value that neither business could generate independently, and they give us confidence in the earnings power and long-term targets we have set. "We are also executing with discipline on capital allocation. During the quarter, we reduced our cost of debt, opportunistically bought back shares, and continued to build out the platform through strategic acquisitions. Our objective remains clear: deploy capital efficiently to strengthen the business while continuing to deleverage the balance sheet." Fiscal Year 2026 Financial Outlook TIC Solutions is reaffirming its previously issued full-year 2026 guidance of: Revenue of $2,150 to $2,250 million Adjusted EBITDA of $330 to $355 million Webcast and Conference Call TIC Solutions will hold a webcast and dial-in conference call to discuss its financial results at 8:30 a.m. (Eastern Time) on Thursday, August 6, 2026. Participants on the call will include Ben Heraud, Chief Executive Officer, Kristin Schultes, Chief Financial Officer, and Robert A.E. Franklin, Executive Chairman. To listen to the call by telephone, please dial 800-347-6865 or 203-518-9757 and reference conference ID "TIC." You may also attend and view the presentation (live or by replay) via webcast by accessing the following URL: https://viavid.webcasts.com/starthere.jsp?ei=1770207&tp_key=036dac7ae0 A replay of the call will be available shortly after the completion of the live call and webcast via the webcast link above. Corporate Headquarters The Company’s corporate headquarters is now located at 2700 Post Oak Boulevard, Suite 2300, Houston, Texas 77056. About TIC Solutions, Inc. TIC Solutions is a leading provider of tech-enabled asset integrity, engineering, and geospatial services. The Company delivers mission-critical services across the full lifecycle of industrial assets, buildings, and public infrastructure, from planning and construction through operations and ongoing maintenance. Operating across North America and select international markets, TIC Solutions serves diversified client base across its principal end markets: oil and gas, industrials, buildings, power and utilities, infrastructure, natural resources, and aerospace and defense, including federal, state, and municipal customers across public-sector applications, with exposure to data centers and other high-growth industries. TIC Solutions operates through three reportable segments: Inspection & Mitigation; Consulting & Engineering; and Geospatial, providing asset integrity services, engineering and advisory solutions, and data-driven asset intelligence capabilities. The Company’s services are frequently non-discretionary, compliance-driven and typically recurring in nature, delivered by more than 12,000 professionals across over 250 locations. For more information, please visit www.ticsolutions.com. Forward-Looking Statements Certain statements in this press release, and on our conference call, are "forward-looking" statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "probable," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "would," "potential," "may," "might," "likely," "plan," "positioned," "strategy," and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements in this press release include statements regarding the Company’s expectations and beliefs regarding (i) its guidance for revenue and Adjusted EBITDA for the third quarter and full year 2026, and the assumptions underlying such guidance, (ii) the integration of the NV5 business and the anticipated benefits and cost synergies of the combined platform, including realized savings, cross-selling opportunities and momentum, (iii) its ability to improve profitability, drive operating efficiencies, expand margins, generate stronger cash flow, and deleverage over time, (iv) its strategy to expand its platform and sustain growth in the years ahead, (v) its ability to deliver sustainable value creation for its shareholders, (vi) its capital allocation strategy, including with respect to stock repurchases and acquisitions, (vii) its AI initiatives, (viii) customer demand and end-market conditions, (ix) cash flow conversion and free cash flow conversion, and (x) the performance of its three reportable segments, including the key growth drivers and commercial indicators for Inspection & Mitigation, Consulting & Engineering, and Geospatial. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, (i) economic conditions affecting the industries the Company serves, including the construction industry and the energy sector, as well as general economic conditions; (ii) the ability and willingness of customers to invest in infrastructure projects; (iii) a decline in demand for the Company’s services or for the products and services of its customers; (iv) the fact that the Company’s revenues are derived primarily from contracts with durations of less than six months and the risk that customers will not renew or enter into new contracts; (v) the Company’s ability to successfully acquire other businesses, successfully integrate acquired businesses into its operations and manage the risks and potential liabilities associated with those acquisitions; (vi) the Company’s ability to compete successfully in the industries and markets it serves; (vii) the Company’s ability to properly manage and accurately estimate costs associated with specific customer projects, in particular for arrangements with fixed price terms; (viii) increases in the cost, or reductions in the supply, of the materials used in the Company’s business and for which we bear the risk of such increases; (ix) the inherently dangerous nature of the Company’s services and the risks of potential liability; (x) the seasonality of the Company’s business and the impact of weather conditions; (xi) the Company’s ability to remediate any material weaknesses; (xii) the impact of health, safety and environmental laws and regulations, and the costs associated with compliance with such laws and regulations; (xiii) the Company’s substantial level of indebtedness and the effect of restrictions on its operations set forth in the documents that govern such indebtedness, (xiv) the Company may fail to realize anticipated synergies or other benefits expected from the merger with NV5 in the timeframe expected or at all, (xv) a prolonged government shutdown, and (xvi) the ultimate timing, outcome, and results of integrating the operations of Acuren and NV5. For a detailed discussion of cautionary statements and risks that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the SEC, including, but not limited to, the risk factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the SEC on March 12, 2026, and any amendments thereto, and in the Company’s quarterly reports on Form 10-Q, each as supplemented or amended from time to time. Forward-looking statements included in this press release speak only as of the date hereof and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or circumstances after the date of this press release. All forward-looking statements speak only as of the date they are made and are based on information available at that time. The Company assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. Non-GAAP Financial Measures This press release and our earnings conference call contain Adjusted Gross Profit, Adjusted Gross Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Organic Change in Revenue (On an NV5 Combined Basis), Combined Revenue Growth, Combined Revenue Growth (Constant Currency), Adjusted Selling, General and Administrative ("SG&A") Expenses, and Adjusted Earnings Per Diluted Share ("Adjusted EPS"), which are non-U.S. GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. As used in this press release, Adjusted Gross Profit is defined as Gross Profit less depreciation expense included in cost of revenue for the periods presented. Adjusted Gross Margin is defined as Gross Profit divided by revenue. EBITDA is defined as earnings before interest, taxes, depreciation and amortization for the periods presented and Adjusted EBITDA is defined as EBITDA excluding the impact of certain non-cash and other specifically identified items for the periods presented. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Organic Change in Revenue provides a consistent basis for year-over-year comparison as it excludes the impacts of material acquisitions, divestitures, and foreign currency translation. When presented on a combined basis, it also reflects the impact of the NV5 acquisition as if it had been owned for the full comparative periods. Adjusted SG&A is defined as SG&A Expense less depreciation and amortization and the impact of certain non-cash and other specifically identified items for the periods presented. The presentation of Combined Revenue Growth and Combined Revenue Growth (Constant Currency) for the three and six months ended June 30, 2026, is not in accordance with GAAP and consists of the mathematical addition of Legacy Acuren revenue and NV5 revenue for the three and six months ended June 30, 2025. No other adjustments are made to the combined presentation. However, we believe that for purposes of discussion and analysis, the combined financial information is useful for management and investors to assess our ongoing financial and operational performance and trends. Combined Revenue Growth (Constant Currency) is calculated as the difference between reported revenue and revenue at fixed currencies for the period. The presentation of Adjusted EPS is not in accordance with GAAP. Adjusted EPS reflects adjustments to reported diluted earnings per share ("GAAP EPS") to eliminate amortization expense of intangible assets from acquisitions, non-cash stock compensation expense, acquisition and integration related expenses, business transformation costs, and other non-recurring charges, net of tax benefits. As we continue our acquisition strategy, the growth in Adjusted EPS may increase at a greater rate than GAAP EPS. A reconciliation of GAAP EPS to Adjusted EPS is provided at the end of this news release. The Company uses these non-GAAP financial measures and additional financial information both in explaining its results to shareholders and the investment community and in its internal evaluation and management of its businesses. The Company’s management believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures (a) permit investors to view the Company’s performance using the same tools that management uses to evaluate the Company’s past performance, reportable business segments and prospects for future performance, (b) permit investors to compare the Company with its peers, (c) determines certain elements of management’s incentive compensation, and (d) provide consistent period-to-period comparisons of the results. While the Company believes these non-GAAP measures are useful in evaluating the Company’s performance, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. A reconciliation of these non-GAAP financial measures is included later in this press release. A reconciliation is not provided for 2026 Adjusted EBITDA guidance range as we are unable to predict the amounts to be adjusted, such as the GAAP tax provision and depreciation. Accordingly, we would not be able to make a detailed reconciliation of Adjusted EBITDA without unreasonable efforts due to our inability to predict the amount and timing of these future items. View source version on businesswire.com: https://www.businesswire.com/news/home/20260806635564/en/ Contacts Investor Relations Contacts Andrew ShenDirector of Investor RelationsEmail: [email protected]

HOLLYWOOD, Fla., July 23, 2026--(BUSINESS WIRE)--TIC Solutions, Inc. (NYSE: TIC) (the "Company" or "TIC Solutions"), a leading provider of tech-enabled asset integrity, engineering, and geospatial services, announced today that it intends to release its financial results for the second quarter 2026 before the market opens on Thursday, August 6, 2026. Second Quarter Webcast and Conference Call: TIC Solutions will hold a webcast/dial-in conference call to discuss its financial results at 8:30 a.m. (Eastern Time) on Thursday, August 6, 2026. Participants on the call will include Ben Heraud, Chief Executive Officer, Kristin Schultes, Chief Financial Officer, and Robert A.E. Franklin, Executive Chairman. To listen to the call by telephone, please dial 800-347-6865 or 203-518-9757 and reference conference ID "TIC". You may also attend and view the presentation (live or by replay) via webcast by accessing the following URL: https://viavid.webcasts.com/starthere.jsp?ei=1770207&tp_key=036dac7ae0 A replay of the call will be available shortly after the live call via the webcast link above. About TIC Solutions: TIC Solutions is a leading provider of tech-enabled asset integrity, engineering, and geospatial services. The Company delivers mission-critical services that support the safety, reliability, and efficiency of industrial assets, buildings, and public infrastructure. Operating across North America and select international markets, TIC Solutions serves private- and public-sector clients across industrial, infrastructure, energy, utilities, construction, commercial real estate end markets, and federal, state, and local agencies, with exposure to data centers and other high-growth industries. TIC Solutions supports clients across the full asset lifecycle, from planning and design to commissioning and compliance, through three reportable segments: Inspection and Mitigation; Consulting Engineering; and Geospatial, providing asset integrity services, engineering and advisory solutions, and data-driven asset intelligence capabilities. The Company’s services are frequently compliance-driven and typically recurring in nature, delivered by more than 12,000 professionals across over 250 locations. For more information, please visit www.ticsolutions.com. Forward-Looking Statements Certain statements in this press release are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words "anticipate," "believe," "expect," "intend," "plan," "estimate," "predict," "outlook," "aim," "will," "may," "might," "could," "should," "would," "target," "likely," "potential," "positioned," "strategy," and similar expressions are intended to identify forward-looking statements. Specific forward-looking statements in this press release include, without limitation, statements regarding the Company's expected timing of its financial results release and earnings conference call. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260723628147/en/ Contacts Investor Relations Contacts: Andrew ShenDirector of Investor RelationsEmail: [email protected]

- Delivered record first quarter revenue of $488.0 million - - Reported net loss of $41.5 million and Adjusted EBITDA of $57.7 million - - Plans to announce new long-term financial targets at Investor Day on May 19 in New York City - - Reaffirms full-year 2026 outlook - HOLLYWOOD, Fla., May 06, 2026--(BUSINESS WIRE)--TIC Solutions, Inc. (NYSE: TIC) ("TIC Solutions" or the "Company"), a leading provider of tech-enabled Testing, Inspection, Certification and Compliance, engineering, and geospatial services, today reported its financial results for the three months ended March 31, 2026. The Company’s first quarter results include the financial performance of NV5 Global, Inc. ("NV5") for the period following our acquisition of NV5 on August 4, 2025 (the "NV5 Acquisition"). All periods prior to August 4, 2025 reflect legacy Acuren results only and therefore exclude any contribution from NV5 which materially affected year-over-year comparability of our financial results for the periods presented. Ben Heraud, CEO of TIC Solutions, stated: "We are off to a healthy start in 2026, with first quarter results reflecting the scale and diversity of our combined platform. Demand remained resilient across many of our core recurring and compliance-driven service lines, and the business continued to benefit from attractive exposure to transportation infrastructure, manufacturing, midstream energy, data centers, and geospatial analytics. We are making meaningful progress on the integration of NV5 and remain confident in our synergy opportunity. Based on our first quarter performance and current visibility, we are reaffirming our full-year 2026 outlook. We will host our inaugural Investor Day on May 19th in New York for institutional investors, where we plan to share new long-term financial targets and additional details on our strategic priorities." First Quarter 2026 Highlights First quarter 2026 revenue was $488.0 million, compared to first quarter 2025 revenue of $234.2 million, representing an increase of 108%, primarily reflecting the inclusion of NV5 results. On a combined basis, revenue increased 4.3% year-over-year in the quarter, including 2.2% organic growth. First quarter 2026 net loss of $41.5 million compared to first quarter 2025 net loss of $25.8 million. First quarter 2026 Adjusted EBITDA of $57.7 million, compared to first quarter 2025 Adjusted EBITDA of $25.9 million, an increase of 123% year-over-year, primarily reflecting the inclusion of NV5 results. Robert A.E. Franklin, Executive Chairman of TIC Solutions, commented: "Our first quarter results reinforce our confidence in the strength of the combined platform, the quality of its market exposure, and the opportunities ahead. With a disciplined focus on execution and prudent capital allocation, we believe TIC Solutions is well positioned to deliver profitable growth and create long-term value for shareholders." Capital Resources and Liquidity As of March 31, 2026, the Company had total liquidity of $537.5 million, including cash and cash equivalents of $426.6 million plus undrawn capacity on the Company’s $125.0 million revolving credit facility. Total term loan debt was $1.6 billion, net of unamortized debt issuance costs at quarter end. Guidance TIC Solutions is reaffirming its previously issued full-year 2026 guidance of: Revenue of $2,150 to $2,250 million Adjusted EBITDA of $330 to $355 million Webcast and Conference Call TIC Solutions will hold a webcast and dial-in conference call to discuss its financial results at 8:30 a.m. (Eastern Time) on Wednesday, May 6, 2026. Participants on the call will include Ben Heraud, Chief Executive Officer, Kristin Schultes, Chief Financial Officer, and Robert A.E. Franklin, Executive Chairman. To listen to the call by telephone, please dial 800-245-3047 or 203-518-9765 and reference conference ID "TIC." You may also attend and view the presentation (live or by replay) via webcast by accessing the following URL: https://viavid.webcasts.com/starthere.jsp?ei=1760683&tp_key=d5fa1c6b18 A replay of the call will be available shortly after the completion of the live call and webcast via the webcast link above. About TIC Solutions, Inc. TIC Solutions is a leading provider of tech-enabled Testing, Inspection, Certification and Compliance (TICC), engineering, and geospatial services. The Company delivers mission-critical services that support the safety, reliability, and efficiency of industrial assets, buildings, and public infrastructure. Operating across North America and select international markets, TIC Solutions serves private- and public-sector clients across industrial, infrastructure, utilities, construction, commercial real estate end markets, and federal, state, and local agencies, with exposure to data centers and other high-growth industries. TIC Solutions supports clients across the full asset lifecycle, from planning and design to commissioning and compliance, through three reportable segments: Inspection and Mitigation; Consulting Engineering; and Geospatial, providing asset integrity services, engineering and advisory solutions, and data-driven asset intelligence capabilities. The Company’s services are frequently compliance-driven and typically recurring in nature, delivered by more than 12,000 professionals across over 250 locations. For more information, please visit www.ticsolutions.com. Forward-Looking Statements Certain statements in this press release are "forward-looking" statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "probable," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "would," "potential," "may," "might," "likely," "plan," "positioned," "strategy," and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements in this press release include statements regarding the Company’s expectations and beliefs regarding (i) its guidance for revenue, Adjusted EBITDA and net interest expense for the second quarter and full year 2026, and the assumptions underlying such guidance, (ii) the integration of the NV5 business and the anticipated benefits and cost synergies of the combined platform, (iii) its ability to improve profitability, drive operating efficiencies, expand margins, generate stronger cash flow, and deleverage over time, (iv) its strategy to expand its platform and sustain growth in the years ahead, (v) its ability to deliver sustainable value creation for its shareholders, (vi) its capital allocation strategy, including with respect to stock repurchases and acquisitions, (vii) its ability to retain and attract top talent, (viii) customer demand and end-market conditions discussed in this release, including its data center revenues, and (ix) its plans to provide additional details regarding its long-term plans and strategic priorities at Investor Day on May 19, 2026. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, (i) economic conditions affecting the industries the Company serves, including the construction industry and the energy sector, as well as general economic conditions; (ii) the ability and willingness of customers to invest in infrastructure projects; (iii) a decline in demand for the Company’s services or for the products and services of its customers; (iv) the fact that the Company’s revenues are derived primarily from contracts with durations of less than six months and the risk that customers will not renew or enter into new contracts; (v) the Company’s ability to successfully acquire other businesses, successfully integrate acquired businesses into its operations and manage the risks and potential liabilities associated with those acquisitions; (vi) the Company’s ability to compete successfully in the industries and markets it serves; (vii) the Company’s ability to properly manage and accurately estimate costs associated with specific customer projects, in particular for arrangements with fixed price terms; (viii) increases in the cost, or reductions in the supply, of the materials used in the Company’s business and for which we bear the risk of such increases; (ix) the inherently dangerous nature of the Company’s services and the risks of potential liability; (x) the seasonality of the Company’s business and the impact of weather conditions; (xi) the Company’s ability to remediate any material weaknesses; (xii) the impact of health, safety and environmental laws and regulations, and the costs associated with compliance with such laws and regulations; (xiii) the Company’s substantial level of indebtedness and the effect of restrictions on its operations set forth in the documents that govern such indebtedness, (xiv) the Company may fail to realize anticipated synergies or other benefits expected from the merger with NV5 in the timeframe expected or at all, (xv) a prolonged government shutdown, and (xvi) the ultimate timing, outcome, and results of integrating the operations of Acuren and NV5. For a detailed discussion of cautionary statements and risks that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the SEC, including, but not limited to, the risk factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 which was filed with the SEC on March 12, 2026, and any amendments thereto, and in the Company’s quarterly reports on Form 10-Q, each as supplemented or amended from time to time. Forward-looking statements included in this press release speak only as of the date hereof and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or circumstances after the date of this press release. All forward-looking statements speak only as of the date they are made and are based on information available at that time. The Company assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. Non-GAAP Financial Measures This press release and our earnings conference call contain Adjusted Gross Profit, Adjusted Gross Margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Organic Change in Revenue (On an NV5 Combined Basis), Combined Revenue Growth, Combined Revenue Growth (Constant Currency), and Adjusted Selling, General and Administrative ("SG&A") Expenses, which are non-U.S. GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. As used in this press release, Adjusted Gross Profit is defined as Gross Profit less depreciation expense included in cost of revenue for the periods presented. Adjusted Gross Margin is defined as Gross Profit divided by revenue. EBITDA is defined as earnings before interest, taxes, depreciation and amortization for the periods presented and Adjusted EBITDA is defined as EBITDA excluding the impact of certain non-cash and other specifically identified items for the periods presented. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Organic Change in Revenue provides a consistent basis for year-over-year comparison as it excludes the impacts of material acquisitions, divestitures, and foreign currency translation. When presented on a combined basis, it also reflects the impact of the NV5 acquisition as if it had been owned for the full comparative periods. Adjusted SG&A is defined as SG&A Expense less depreciation and amortization and the impact of certain non-cash and other specifically identified items for the periods presented. The presentation of Combined Revenue Growth and Combined Revenue Growth (Constant Currency) for the three months ended March 31, 2026, is not in accordance with GAAP and consists of the mathematical addition of Legacy Acuren revenue and NV5 revenue for the three months ended March 31, 2025. No other adjustments are made to the combined presentation. However, we believe that for purposes of discussion and analysis, the combined financial information is useful for management and investors to assess our ongoing financial and operational performance and trends. Combined Revenue Growth (Constant Currency) is calculated as the difference between reported revenue and revenue at fixed currencies for the period. The Company uses these non-GAAP financial measures and additional financial information both in explaining its results to shareholders and the investment community and in its internal evaluation and management of its businesses. The Company’s management believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures (a) permit investors to view the Company’s performance using the same tools that management uses to evaluate the Company’s past performance, reportable business segments and prospects for future performance, (b) permit investors to compare the Company with its peers, (c) determines certain elements of management’s incentive compensation, and (d) provide consistent period-to-period comparisons of the results. While the Company believes these non-GAAP measures are useful in evaluating the Company’s performance, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. A reconciliation of these non-GAAP financial measures is included later in this press release. A reconciliation is not provided for 2026 Adjusted EBITDA guidance range as we are unable to predict the amounts to be adjusted, such as the GAAP tax provision and depreciation. Accordingly, we would not be able to make a detailed reconciliation of Adjusted EBITDA without unreasonable efforts due to our inability to predict the amount and timing of these future items. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506851796/en/ Contacts Investor Relations Contacts Andrew Shen Director of Investor Relations Email: [email protected]

Adeia (ADEA) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.04%. A quarter ago, it was expected that this provider of chip technology for small electronic devices would post earnings of $0.73 per share when it actually produced earnings of $0.86, delivering a surprise of +17.81%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Adeia, which belongs to the Zacks Technology Services industry, posted revenues of $104.77 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.31%. This compares to year-ago revenues of $87.67 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Adeia shares have added about 91.3% since the beginning of the year versus the S&P 500's gain of 5.6%. While Adeia has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Adeia was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.35 on $102.51 million in revenues for the coming quarter and $1.48 on $416.1 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Acuren Corporation (TIC), is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6. This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +109.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Acuren Corporation's revenues are expected to be $473.99 million, up 102.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Adeia Inc. (ADEA) : Free Stock Analysis Report Acuren Corporation (TIC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research