SOLV Energy Q2 Revenue Jumps 77% to $951M; Raises Full-Year Guidance
MWH sits 34% above its 52-week low of $23.83.
Summary
SOLV Energy reported Q2 2026 revenue of $951 million, up 77% year over year, and raised full-year guidance. Net income was $67 million, and backlog grew 44% to $8.9 billion.
Key Events · Earnings and Guidance · MWH
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Record Q2 Revenue
Revenue of $951 million, up 77% year over year, driven by new construction activity and M&A contribution.
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Raised Full-Year Guidance
Full-year 2026 revenue guidance raised to $3,870-$3,970 million and adjusted EBITDA to $485-$505 million, up from $3,720-$3,820 million and $435-$455 million previously.
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Backlog Growth
Total backlog of approximately $8.9 billion as of June 30, 2026, up 44% year over year.
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Roberson Waite Acquisition Closed
Completed acquisition of Roberson Waite Electric on July 1, 2026 for $40.9 million cash plus up to $9.0 million earnout, expanding substation construction capabilities.
Analysis · MWH · Real Estate & Construction
Record second-quarter results put SOLV Energy on a stronger footing, with revenue up 77% year over year to $951 million on robust construction activity and M&A. Net income climbed to $67 million from $45 million a year earlier, while adjusted EBITDA reached $117 million. The company also lifted its full-year 2026 guidance for revenue and adjusted EBITDA, reflecting momentum and the Roberson Waite Electric acquisition. Backlog grew 44% to $8.9 billion, underpinning future growth. With the stock at $32.02, well below the $36 IPO price from May, these strong results and raised outlook could help narrow that gap.
At the time of this filing, MWH was trading at $32.02 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $6.3B. The 52-week trading range was $23.83 to $48.40. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.