SOLV Energy Inc

MWH

Market cap $8.79B

SOLV Energy, Inc. (MWH) Q1 2026 Earnings Call Transcript

SOLV Energy NASDAQ: MWH reported sharply higher first-quarter revenue and adjusted earnings, raised its full-year profit outlook and said demand for solar, storage and grid infrastructure remains strong as U.S. power needs accelerate.

SAN DIEGO, May 12, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (“SOLV” or the “Company”) (Nasdaq: MWH), a leading provider of infrastructure services to the power industry, today announced financial results for the first quarter ended March 31, 2026. Financial Summary (in $ millions except percentages) Three Months Ended March 31,   2026   2025 Revenue 677   408 Gross Profit 119   59 Gross Margin 17.6%   14.5% Net Loss 1 (27)   (1)         Adjusted Gross Profit 2 124   59 Adjusted Gross Margin 2 18.4%   14.5% Adjusted EBITDA 93   34 1) Represents Net Loss before Non-Controlling Interest 2) Adjusted Gross Profit and Adjusted Gross Margin exclude the impact of the allocation of non-cash compensation expense to cost of revenue First Quarter 2026 Financial and Recent Business Highlights Revenue of $677 million, up 66% year over year Gross Profit of $119 million, up 102% year over year Adjusted Gross Profit of $124 million, up 110% year over year Net loss of $(27) million Primarily a result of a one-time, non-cash expense of $521 million related to the modification of legacy equity awards from the reorganization in the IPO Adjusted EBITDA of $93 million, up 174% year over year Total backlog as of March 31, 2026 at $8.2 billion Nearly 22 GW under contract for O&M services Announced the acquisition of Roberson Waite Electric (“RWE”) providing the Company additional capabilities and growth opportunities in the utility services market 1) Included in total non-cash compensation expense in cost of revenue and SG&A of approx.

SAN DIEGO, May 04, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (“SOLV” or the “Company”) (Nasdaq: MWH) plans to report first quarter 2026 results on Tuesday, May 12, 2026. Management will present results during a conference call at 8:30 a.m. Eastern time.

SAN DIEGO, May 04, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (Nasdaq: MWH) (“SOLV”), a leading provider of infrastructure services to the power industry, today announced it has entered into an agreement to acquire Roberson Waite Electric (“RWE”), a California-based provider of utility substation construction, testing, commissioning, and related infrastructure services.

SOLV Energy is undervalued, with a recurring O&M revenue stream and a robust $8B backlog supporting near-term growth. MWH's installed base and long-term O&M contracts create a higher-quality, stickier earnings profile than typical EPC contractors. Scale advantages position MWH to capture larger, more complex projects and adjacent revenue streams, widening its competitive moat.

SAN DIEGO, April 01, 2026 (GLOBE NEWSWIRE) -- SOLV Energy today highlighted its industry‑leading operations and maintenance (O&M) platform, with an O&M portfolio that exceeds 20 GW of utility-scale solar and storage capacity under management as of December 31, 2025, an increase of over 2 GW from the previous year. This scale reflects SOLV Energy's growing role supporting large, complex renewable energy portfolios across the United States, with a focus on operational discipline, safety, and lifecycle performance.

Solv Energy Stock: The solar leader is approaching its first buy point as a public company after its February debut.

SAN DIEGO, March 19, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (“SOLV” or the “Company”) (Nasdaq: MWH), a leading provider of infrastructure services to the power industry, today announced financial results for the fourth quarter and full year ended December 31, 2025. Financial Summary (in $ millions except percentages) Three Months Ended December 31,   Twelve Months Ended December 31,   2025   2024     2025   2024   Revenue 794   441     2,490   1,848   Gross Profit 144   82     464   259   Gross Margin 18.1 % 18.5 %   18.6 % 14.0 % Net Income 1 36   10     149   10   Adjusted EBITDA 100   53     342   165   1) Net Income Attributable to Controlling Interest Financial and Recent Business Highlights Raised $552.5 million in net proceeds from initial public offering Repaid outstanding term loan and upsized revolver to $200 million Year-end 2025 backlog of $8 billion, an 87% increase over year-end 2024 Over 20 GW now under contract for O&M services “We closed 2025 with record financial performance that reflects the strength of our value proposition and the sustained demand for infrastructure services.

SAN DIEGO, March 16, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (“SOLV” or the “Company”) (Nasdaq: MWH) plans to report fourth quarter and full year 2025 results on Thursday, March 19, 2026. Management will present results during a conference call at 8:30 a.m.