Revenue Surges 86% to $584M, Backlog Hits Record $1.18B
TIC sits 28% above its 52-week low of $6.36.
Summary
TIC Solutions reported Q2 revenue of $584.3M, an 86% jump year-over-year, driven largely by the inclusion of the NV5 acquisition. The company posted a net loss of $13.3M as integration costs weighed on results, but the record $1.18B backlog—up 20%—signals strong future demand. Management reaffirmed full-year revenue guidance of $2.15B-$2.25B and adjusted EBITDA of $330M-$355M, citing strength in Industrials, Power & Utilities, and Data Centers. This follows a Q1 net loss of $41.5M and material weaknesses in internal controls, making the revenue growth and backlog expansion a notable positive shift. The reaffirmed guidance provides visibility, though integration costs remain a near-term drag.
At the time of this announcement, TIC was trading at $8.16 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $6.36 to $14.94. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.