SOLV Energy posts record Q3 revenue, expands backlog and raises full‑year guidance
SOLV Energy reported third‑quarter 2026 revenue of about $1.24 billion, up 65% year‑over‑year, and a record backlog of $9.2 billion, including $3.1 billion tied to battery storage projects. The company acquired Texas‑based ASB Energy Services for roughly $45 million, adding high‑voltage construction capability. Management raised its 2026 revenue guidance to $4.03‑$4.12 billion and adjusted EBITDA guidance to $525‑$540 million.
Why it matters
The raised guidance signals higher expected revenue and earnings for the year, which could improve investor sentiment and valuation. The acquisition expands SOLV’s service scope, potentially supporting future growth.
Key facts
- 1Q3 2026 revenue was $1.24 billion, up 65% YoY. investing.com
- 2Adjusted EBITDA for the quarter was $173 million. investing.com
- 3Backlog reached a record $9.2 billion, with $3.1 billion related to battery storage. investing.com
- 4SOLV acquired ASB Energy Services for about $45 million. investing.com
- 5Full‑year 2026 revenue guidance was increased to $4.03 billion‑$4.12 billion. investing.com
- 6Adjusted EBITDA guidance was raised to $525 million‑$540 million. investing.com
Open questions
- Material 1 reports Q3 net income of $69.9 million, while material 2 reports $123 million for the same quarter.
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.