Quarterly ResultMay 12, 2026, 07:12 AM
SOLV Energy Q1 Revenue Up 66% to $677M; Raises FY26 EBITDA Guidance
AI Summary
SOLV Energy reported strong financial results for the first quarter ended March 31, 2026, with revenue up 66% to $677 million and Adjusted EBITDA increasing 174% to $93 million. Despite a net loss of $(27) million, primarily due to a one-time non-cash expense, the company raised its full-year 2026 Adjusted EBITDA guidance. Additionally, SOLV Energy announced the acquisition of Roberson Waite Electric for $45 million and the resignation of Chief Strategy Officer Erik Johnson.
Key Highlights
- Q1 2026 Revenue increased 66% year-over-year to $677 million.
- Adjusted EBITDA grew 174% year-over-year to $93 million.
- Reported a net loss of $(27) million, primarily due to a $521 million non-cash expense.
- Raised full-year 2026 Adjusted EBITDA guidance to $435 million to $455 million.
- Acquired Roberson Waite Electric for $45 million, expanding utility services.
- Chief Strategy Officer Erik Johnson resigned, transitioning to a non-executive role.
- Total backlog as of March 31, 2026, reached $8.2 billion.