TIC Solutions, Inc. (TIC): auditor change — Acuren restates Predecessor period financials due to $12.5M tax error, increasing loss per share by $2.50

TIC Solutions, Inc.

Audit Committee determined unaudited Predecessor period (Jan 1-Jul 29, 2024) financials can no longer be relied upon due to income tax error.
Estimated impact: income tax benefit decrease and total comprehensive loss increase of ~$12.5M; basic/diluted loss per share increase of ~$2.50.
Error also increases deferred tax liabilities by ~$12.5M; no impact on cash flows from operations.
Company previously disclosed material weaknesses in ICFR; these contributed to the error.
Restated financials will be presented in the upcoming Annual Report on Form 10-K.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

TIC Solutions, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: PricewaterhouseCoopers LLP

Exact text from the filing

should no longer be relied upon due to the error related to income taxes described below as well as other immaterial items and should be restated.

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Source: SEC EDGAR

accession 0001013762-25-002970

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