---
title: "Solv Energy | 8-K: FY2026 Q1 Revenue: USD 676.81 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286087022.md"
datetime: "2026-05-12T11:10:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286087022.md)
  - [en](https://longbridge.com/en/news/286087022.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286087022.md)
---

# Solv Energy | 8-K: FY2026 Q1 Revenue: USD 676.81 M

Revenue: As of FY2026 Q1, the actual value is USD 676.81 M.

EPS: As of FY2026 Q1, the actual value is USD -0.2.

EBIT: As of FY2026 Q1, the actual value is USD -1.734 M.

#### First Quarter 2026 Financial Summary

**Revenue** Revenue increased by 66% year over year to $677 million in Q1 2026, up from $408 million in Q1 2025. The detailed revenue figures were $676,805 thousand in Q1 2026 and $407,847 thousand in Q1 2025.

**Gross Profit and Margin** Gross Profit was $119 million in Q1 2026, a 102% increase year over year from $59 million in Q1 2025. The detailed gross profit figures were $119,073 thousand in Q1 2026 and $59,099 thousand in Q1 2025. Gross Margin improved to 17.6% in Q1 2026 from 14.5% in Q1 2025. Adjusted Gross Profit rose by 110% year over year to $124 million in Q1 2026 from $59 million in Q1 2025. The detailed adjusted gross profit figures were $124,387 thousand in Q1 2026 and $59,099 thousand in Q1 2025. Adjusted Gross Margin was 18.4% in Q1 2026, compared to 14.5% in Q1 2025.

**Net Loss** SOLV Energy, Inc. reported a Net Loss of - $27 million in Q1 2026, compared to a Net Loss of - $1 million in Q1 2025. The detailed net loss figures were - $27,414 thousand in Q1 2026 and - $502 thousand in Q1 2025. Net loss attributable to SOLV Energy, Inc. was - $23,358 thousand in Q1 2026, compared to - $714 thousand in Q1 2025.

**Operating Profit** Operating income (loss) was - $7,181 thousand in Q1 2026, down from $9,261 thousand in Q1 2025.

**Adjusted EBITDA** Adjusted EBITDA increased by 174% year over year to $93 million in Q1 2026 from $34 million in Q1 2025. The detailed adjusted EBITDA figures were $92,515 thousand in Q1 2026 and $34,031 thousand in Q1 2025.

**Operating Costs** Cost of revenue was $557,732 thousand in Q1 2026, up from $348,748 thousand in Q1 2025. Selling, general and administrative expenses were $111,375 thousand in Q1 2026, including non-cash compensation expense of $59,560 thousand, compared to $36,070 thousand in Q1 2025, including non-cash compensation expense of $712 thousand. Total operating expenses were $126,254 thousand in Q1 2026, compared to $49,838 thousand in Q1 2025.

#### Cash Flow

**Operating Cash Flow** Net cash provided by operating activities was $14,241 thousand in Q1 2026, down from $20,175 thousand in Q1 2025.

**Investing Activities** Net cash used in investing activities was - $10,440 thousand in Q1 2026, compared to - $13,534 thousand in Q1 2025.

**Financing Activities** Net cash used in financing activities was - $13,766 thousand in Q1 2026, compared to - $5,602 thousand in Q1 2025.

**Cash and Cash Equivalents** Cash and cash equivalents at the end of Q1 2026 were $384,911 thousand, a decrease from $394,876 thousand at the beginning of the period.

#### Unique Metrics and Business Highlights

**Backlog and O&M Services** Total backlog as of March 31, 2026, reached $8.2 billion. SOLV Energy, Inc. has nearly 22 GW under contract for Operations & Maintenance (O&M) services.

**Acquisition** SOLV Energy, Inc. announced the acquisition of Roberson Waite Electric (“RWE”), a provider of utility substation construction and related services, for a total consideration of $45 million. $36 million is to be paid at closing, with the remainder subject to performance criteria in subsequent years. The company expects to close the transaction by the third quarter of 2026.

#### Financial Guidance (Outlook)

SOLV Energy, Inc. updated its full-year 2026 financial guidance, raising its Adjusted EBITDA outlook. The company expects revenue to be between $3.720 billion and $3.820 billion, with Adjusted Gross Profit ranging from $610 million to $650 million. Adjusted Gross Margin is projected to be 16.4% to 17.0%, and Adjusted EBITDA is anticipated to be between $435 million and $455 million.

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