Earnings Releases·Nov 12, 2026, 7:14 AM ET

SOLV Energy — Third Quarter 2026 Earnings Summary

Revenue for Q3 2026 reached $1,242 million (up 65% YoY) and $2,870 million YTD (up 69% YoY), while net income rose to $123 million for the quarter and $162 million YTD compared to prior year figures.
The company raised full-year 2026 guidance across all key metrics, including revenue ($4,030–$4,120 million), adjusted gross profit ($660–$690 million), and adjusted EBITDA ($525–$540 million), citing strong backlog and demand.
Strategic capital deployment included the October 30, 2026, acquisition of ASB Energy Services for approximately $36 million in cash plus stock to expand high-voltage construction capabilities, alongside the full repayment of $392 million in term debt following the February 2026 IPO.
Total backlog stood at approximately $9.2 billion as of September 30, 2026, with over 24 GW under contract for O&M services, though the company disclosed material weaknesses in internal controls over financial reporting.