SOLV Energy Reports Record Q3 2026 Results and Raises Full-Year Guidance
SOLV Energy (MWH) delivered strong third-quarter results for 2026, reporting revenue of $1.24 billion, a 65% increase year-over-year. This growth was primarily fueled by surging new construction activity and infrastructure services. The company reached a record backlog of $9.2 billion as of September 30, with $3.1 billion specifically tied to battery energy storage systems (BESS), highlighting the accelerating demand for integrated energy solutions. Driven by strong year-to-date execution, management raised its full-year 2026 revenue guidance to a range of $4.03 billion to $4.12 billion. While adjusted gross margins saw a slight decrease to 17.3% compared to the previous year due to shifts in project mix, net income rose significantly to $123 million. The company maintains a robust liquidity position with $609 million and carries zero long-term debt.
Topics: Backlog Battery Energy Storage Systems EBITDA Financial Guidance Revenue Growth
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