Business
Acuren Corporation Announces Results for the First Quarter 2025
TOMBALL, Texas, May 15, 2025--Acuren Corporation (NYSE American: TIC) ("Acuren" or the "Company"), a leading provider of critical asset integrity services, today reported its financial results for the three months ended March 31, 2025.
About this update from Tic Solutions, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":332,"url":"https://media.zenfs.com/en/business-wire.com/8b66aca3ddafece4552c039b126e214e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/yGiOnAj078ihA3KT02w_2Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/8b66aca3ddafece4552c039b126e214e","width":480,"height":332}},"lazy":false},{"type":"text","content":"- Revenue of $234.2 million, up 5.0% driven by deeper service line penetration with recurring customers and market share gains -","length":128,"tagName":"p","attribs":{}},{"type":"text","content":"- Reiterates 2025 outlook -","length":27,"tagName":"p","attribs":{}},{"type":"text","content":"TOMBALL, Texas, May 15, 2025--(BUSINESS WIRE)--Acuren Corporation (NYSE American: TIC) ("Acuren" or the "Company"), a leading provider of critical asset integrity services, today reported its financial results for the three months ended March 31, 2025.","length":272,"tagName":"p"},{"type":"text","content":"The presentation of our operating results reflects the Company’s acquisition of ASP Acuren Holdings, Inc. ("ASP Acuren" or the "ASP Acuren Acquisition"). The period from January 1, 2025 through March 31, 2025, is referred to as the "Successor" period and the period from January 1, 2024 through March 31, 2024 is referred to as the "Predecessor" period.","length":393,"tagName":"p"},{"type":"text","content":"Tal Pizzey, CEO of Acuren stated: "We delivered 7.2% organic growth in the quarter, highlighting the resilience of the recurring nature of our revenues even in a cautious economic environment. We also delivered solid free cash flow, further solidified our balance sheet with the repricing of our debt, and continued to realize benefits from recent successful acquisitions. First quarter margins reflect a higher contribution from our run and maintain site work which is highly recurring in nature with lower margins than our overall mix. We remain focused on organic growth and pricing discipline, which is underscored by our unchanged full year outlook. Through differentiated services, a customer-first mindset, and operational efficiency, we believe we are well-positioned to unlock long...