SOLV Energy (MWH) Q3 2026 Earnings Call Transcript

SOLV Energy (MWH) reported Q3 revenue of $1.2B-$1.24B, up 65% YoY, and adjusted EBITDA of $173M. Management highlighted record backlog, strong customer demand, and growth through 2027, while noting inflation and policy uncertainties. The company acquired ASB Energy Services for $45M, expanding its capabilities.

SOLV Energy reported a record Q3 backlog of $9.2B, with $3.1B tied to battery storage projects. The company expects meaningful growth, with a pipeline extending through 2030. SOLV acquired ASB Energy Services for $45M, adding high-voltage capabilities. It ended Q3 with $609M in liquidity and no long-term debt. Management addressed pricing and policy questions, noting no significant project delays. SOLV Energy trades on NASDAQ as MWH.

Jefferies maintained a Buy rating and $34 price target for SOLV Energy (MWH). The company's Q3 2026 adjusted EBITDA was $173M, exceeding estimates. MWH raised its 2026 EBITDA guidance by $38M, with a backlog of $9.2B. Shares are up 16% in a week but down 40% in six months, trading at $26.94. The company reported record Q3 2026 revenue of $1.24B, a 65% YoY increase, and raised full-year guidance.

SOLV Energy raised its 2026 revenue guidance to $4.03B-$4.12B, citing record execution and the largest project in its history. CEO George Hershman highlighted strong Q3 performance.

SOLV Energy reported Q3 2026 revenue of $1.24B, up 65% YoY, and raised full-year guidance. Net income rose 75% to $123M, but margins compressed. The company's backlog reached $9.2B, and it acquired ASB Energy Services for $45M. Shares fell 1.02% to $27.30 despite strong results.

Solv Energy (MWH) reported Q3 net income of $69.9M, or 53 cents per share, missing analyst estimates of 59 cents. Revenue was $1.24B, exceeding expectations of $1.19B. The company provides infrastructure services to the power industry.