SOLV Energy 2025 revenue up 35% to $2.49 billion; net income rises to $149 million
SOLV Energy reported fourth-quarter and full-year 2025 results, with full-year revenue of $2.49 billion versus $1.85 billion a year earlier and net income of $149 million versus $10 million. The company also initiated 2026 guidance calling for revenue of $3.72 billion to $3.82 billion and adjusted EBITDA of $400 million to $420 million, which gives shareholders a first forward view of the business after its IPO.
Key points
- Q4 2025 revenue was $794 million versus $441 million in Q4 2024; Q4 gross margin was 18.1% versus 18.5%.
- Full-year 2025 adjusted EBITDA was $342 million versus $165 million in 2024.
- 2026 guidance: revenue of $3.72 billion to $3.82 billion, gross profit of $580 million to $620 million, adjusted EBITDA of $400 million to $420 million.
- Year-end 2025 backlog was $8 billion, up 87% from year-end 2024; the IPO raised $552.5 million in net proceeds.
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 19, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.