SOLV Energy Q1 revenue rises 66% to $677 million; net loss of $27 million
SOLV Energy reported first-quarter 2026 revenue of $677 million, up 66% from a year earlier, and a net loss of $27 million, which included a one-time, non-cash expense of $52 million tied to modifying legacy equity awards from its IPO reorganization. The company raised its full-year 2026 Adjusted EBITDA guidance to $435 million to $455 million. For shareholders, operating growth was strong, but the reported loss widened and the company's chief strategy officer stepped down from that role.
Key points
- Revenue was $677 million versus $408 million a year earlier; Adjusted EBITDA was $93 million, up 174% from $34 million.
- Net loss was $27 million, including a one-time, non-cash expense of $52 million from modifying legacy equity awards; basic and diluted loss per share was $0.20 for February 12 to March 31, 2026.
- Full-year 2026 guidance: revenue of $3.720 billion to $3.820 billion and Adjusted EBITDA of $435 million to $455 million.
- Erik Johnson resigned as Chief Strategy Officer effective May 11, 2026, and will remain an employee through the end of 2026.
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 May 12, 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.