Added to YB: 2026-05-11
Pitch date: 2026-05-08
TIC [neutral]
TIC Solutions, Inc.
Author Info
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Company Info
TIC Solutions, Inc. provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection.
Market Cap
$2.3B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
14.50
P/E
-18.19
EV/Sales
2.00
Sector
Professional Services
Category
turnaround
Update: TIC Solutions ($TIC) Q1 2026 Results
TIC (earnings): Q1 EBITDA $57.7M (16.9% of $342.5M midpoint guide), in line with seasonal 15-18% range. Mgmt held FY26 $330-355M EBITDA guide, issued first Q2 guide: $570-582M rev, $90-96M EBITDA (16.1% margin, up from Q1's 11.8%). CE best segment: +9.5% rev, 47.6% margin (+60bps), $80M TTM data center rev vs $70M base case. I&M flat but stabilized (rope access +9%, lab +20%). GEO margin compressed 320bps on strategic pilot project w/ key client. OCF weak at $9.9M ($32.8M Q1'25) on $27.9M contract asset build & AR timing, but 2 large invoices collected early Apr. Net debt up $8M to $1,182M (seasonal). Integration costs $14.1M in Q1 vs $28M FY guide needs Q2 step-down to $4-5M/qtr. Synergies raised to $15M (vs $7-9M est). May 19 Investor Day critical for long-term margin targets, GeoAI disclosure, leverage path. Thesis intact, recovery tracking.
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