The strong beat and raised guidance, combined with a $8.2B backlog and accretive RWE acquisition, signal accelerating execution post-IPO. Watch for Q2 2026 margin progression and integration updates on RWE; the stock should re-rate higher given the 66% revenue growth and raised EBITDA outlook.
Price Chart
Executive Summary
SOLV Energy reported Q1 2026 revenue of $677M (up 66% YoY) and an adjusted EBITDA of $93M (up 174% YoY), significantly exceeding consensus estimates of $0.15 EPS and $618.3M revenue. The company raised its full-year 2026 Adjusted EBITDA guidance to $435M-$455M, reflecting strong operational momentum and a record $8.2B backlog.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $677M, up 66% YoY from $408M
- Adjusted Gross Profit of $124M, up 110% YoY
- Adjusted EBITDA of $93M, up 174% YoY from $34M
- Net loss of $(27M) driven by $521M one-time non-cash equity modification charge from IPO reorganization
- Total backlog of $8.2B as of March 31, 2026
- Raised full-year 2026 Adjusted EBITDA guidance to $435M-$455M
- Announced acquisition of Roberson Waite Electric for $45M, expected to close in Q3 2026
- IPO completed in February 2026, net proceeds of $552.5M
Financial Impact
Revenue beat consensus by ~9.5% ($677M vs $618.3M); Adjusted EBITDA guidance raised to $435M-$455M from prior range
Risk Factors
- One-time $521M non-cash equity charge highlights ongoing IPO-related compensation complexity
- Heavy reliance on non-GAAP metrics (Adjusted EBITDA, Adjusted Gross Profit) for headline performance
- Integration risk from Roberson Waite Electric acquisition and potential execution challenges in utility services expansion
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292685 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $21.53 | awaiting T+60 | — | $22.55 (+4.74%) |
Jun 4, 2026 20w ago | Press Release | $32.81 $25.52 | ▲ +22.22% | ▲ +26.22% | $22.55 (+31.27%) |
May 29, 2026 21w ago | 424B4 | $34.63 $28.19 | ▲ +18.60% | ▲ +19.83% | $22.55 (+34.88%) |
May 29, 2026 21w ago | EFFECT | $35.53 $28.04 | ▼ −21.08% | ▼ −22.26% | $22.55 (−36.53%) |
May 28, 2026 21w ago | Press Release | $35.53 $28.04 | ▲ +21.08% | ▲ +22.26% | $22.55 (+36.53%) |
May 26, 2026 22w ago | Press Release | $38.11 $28.92 | ▲ +24.11% | ▲ +25.99% | $22.55 (+40.83%) |
May 26, 2026 22w ago | S-1 | $38.11 $28.92 | ▼ −24.11% | ▼ −25.99% | $22.55 (−40.83%) |
May 12, 2026 24w ago | 8-K | $45.84 $27.66 | ▼ −39.66% | ▼ −44.04% | $22.55 (−50.81%) |
May 12, 2026 24w ago | Press Release | $45.84 $27.66 | ▼ −39.66% | ▼ −44.04% | $22.55 (−50.81%) |
May 4, 2026 25w ago | Press Release | $42.51 $23.86 | ▼ −43.87% | ▼ −45.73% | $22.55 (−46.95%) |
US Market Status
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