Quarterly ResultMay 6, 2026, 06:53 AM
TIC Solutions Q1 Revenue $488M, Net Loss $(41.5M); Approves $200M Buyback
AI Summary
TIC Solutions, Inc. reported a significant increase in revenue to $488.0 million for the first quarter of 2026, up from $234.2 million in the prior year, largely driven by the NV5 acquisition. Despite the revenue growth, the company's net loss widened to $(41.5) million from $(25.8) million year-over-year. However, basic and diluted loss per share improved slightly to $(0.19) from $(0.21). The Board of Directors also approved a share repurchase program of up to $200.0 million of common stock.
Key Highlights
- Q1 2026 revenue increased to $488.0 million from $234.2 million in Q1 2025.
- Net loss for Q1 2026 was $(41.5) million, compared to $(25.8) million in Q1 2025.
- Basic and diluted loss per share improved to $(0.19) in Q1 2026 from $(0.21) in Q1 2025.
- Board approved a share repurchase program of up to $200.0 million of common stock.
- Cash and cash equivalents were $426.6 million as of March 31, 2026.
- Net cash provided by operating activities decreased to $9.9 million in Q1 2026 from $32.8 million in Q1 2025.
- Completed one business combination in Q1 2026 for approximately $5.0 million.
- Goodwill from the NV5 acquisition was preliminarily assigned at $763.8 million.