The combination of strong post-merger financial performance, clear integration progress ($25M synergies), and aggressive 2026 EBITDA guidance suggests the NV5 integration is on track. The CEO transition appears orderly, and the $200M buyback signals confidence. Traders should monitor execution against the ambitious EBITDA guidance.
Price Chart
Executive Summary
TIC Solutions reported strong 2025 financial results with $1.53 billion in revenue and $234.1 million in Adjusted EBITDA, driven by the NV5 merger. The company announced CEO succession, with Ben Heraud replacing retiring CEO Tal Pizzey, and provided 2026 guidance for revenue of $2.15-$2.25 billion and Adjusted EBITDA of $330-$355 million, signaling confidence in integration and growth.
Key Financial Metrics
Key Facts
- Delivered full year 2025 revenue of $1.53 billion (39% YoY growth) and Adjusted EBITDA of $234.1 million (25% YoY improvement)
- Announced CEO succession: Ben Heraud appointed CEO effective March 31, 2026, succeeding retiring CEO Tal Pizzey
- Provided 2026 guidance: Revenue of $2.15-$2.25 billion and Adjusted EBITDA of $330-$355 million
- Authorized a $200 million share repurchase program
- Identified $25 million in cost synergies from NV5 integration, with half expected in 2026
Financial Impact
Revenue growth of 39% YoY to $1.53B and Adjusted EBITDA growth of 25% to $234.1M, with 2026 guidance implying 40-51% EBITDA growth
Segment Breakdown
| Segment |
|---|
| Inspection and Mitigation |
| Consulting Engineering |
| Geospatial |
Risk Factors
- High leverage with $1.6B term loan debt
- Execution risk on achieving $25M cost synergies and 2026 guidance
- Dependence on successful integration of NV5 operations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-017010 |
| Document: cik0002032966-20260312.htm | 0001628280-26-017010 |
| Document: 0001628280-26-017010.txt | 0001628280-26-017010 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Institutional Cluster | $10.04 | awaiting T+60 | — | $10.01 (+0.30%) |
Aug 6, 2026 11w ago | 8-K | $8.68 | awaiting T+60 | — | $10.01 (+15.32%) |
Jun 17, 2026 18w ago | DEFA14A | $8.42 $9.43 | ▲ +12.00% | ▲ +10.10% | $10.01 (+18.88%) |
Jun 11, 2026 19w ago | Institutional Cluster | $8.34 $9.36 | ▲ +12.23% | ▲ +7.83% | $10.01 (+20.02%) |
Mar 25, 2026 30w ago | EFFECT | $7.37 $8.11 | ▲ +9.97% | ▼ −3.48% | $10.01 (+35.82%) |
Mar 12, 2026 32w ago | 8-K | $7.69 $8.38 | ▲ +8.97% | ▼ −1.72% | $10.01 (+30.17%) |
US Market Status
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