SOLV Energy (NASDAQ:MWH) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

SOLV Energy (NASDAQ:MWH) issued its earnings results on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15, Briefing.com reports. SOLV Energy’s quarterly revenue was up 80.0% compared to the same quarter last year.

Here are the key takeaways from SOLV Energy’s conference call:

• SOLV delivered record 2025 results with $2.49 billion in revenue and $342 million of adjusted EBITDA, and Q4 revenue rose ~80% YoY to $794 million, underscoring strong near-term execution.
• Backlog and scale provide multi-year visibility — backlog exceeded $8 billion (up ~87% YoY) at year-end 2025, is 100% described as safe-harbored, and the company is under contract to manage >20 GW across 150 plants.
• Management initiated ambitious 2026 guidance — revenue of $3.72–$3.82 billion (≈+51% at midpoint) and adjusted EBITDA of $400–$420 million — and boosted financial flexibility after the IPO (≈$553M net proceeds) and a $200M credit facility to fund organic growth and M&A.
• SOLV highlights a differentiated lifecycle model (EPC → long‑term O&M) and strong safety/operational metrics (TRIR 0.48, LTIR 0.19), which it says creates 35‑year annuity-like revenue and an estimated $7.4 billion of long-term service spend embedded in its installed base (only ~$540M currently in backlog).
• Management flagged margin and execution risks — 2026 gross margin guidance (15.6%–16.2%) is below 2025 levels (>18%), citing seasonality, many new project starts, unpredictable large repair work, and ongoing supply‑chain/fuel monitoring that could cause short‑term margin variability.

SOLV Energy Stock Performance

MWH opened at $28.64 on Friday. SOLV Energy has a 1 year low of $26.42 and a 1 year high of $33.00.

Analyst Upgrades and Downgrades

MWH has been the topic of a number of research reports. Guggenheim assumed coverage on SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $37.00 price objective on the stock. Zacks Research upgraded shares of SOLV Energy to a “hold” rating in a report on Tuesday, March 10th. Robert W. Baird started coverage on shares of SOLV Energy in a research note on Monday, March 9th. They set an “outperform” rating and a $36.00 price objective for the company. UBS Group initiated coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, TD Cowen began coverage on shares of SOLV Energy in a report on Monday, March 9th. They set a “buy” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $35.10.

SOLV Energy Company Profile

SOLV Energy (NASDAQ: MWH) is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.