Filing Flows › Solv Energy (MWH) › Q1 2026 › vs Q1 2025
Solv Energy (MWH) Q1 2026 vs Q1 2025 (year over year)
Solv Energy's revenue rose $269M (+66%) from $408M in Q1 2025 to $677M in Q1 2026. The biggest changes: New Construction +$274M (+73%); Other −$3.1M (-73%); Existing Infrastructure −$1.5M (-6%).
Solv Energy, Q1 2026: revenue $677M (+66% year over year), operating margin -1.1%, net loss $27.4M, operating cash flow $14.2M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 0.6% | 4.3% | -3.7 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| New Construction | $651M | $377M | $274M | +73% |
| Existing Infrastructure | $25.0M | $26.5M | −$1.5M | -6% |
| Other | $1.1M | $4.2M | −$3.1M | -73% |
| Revenue | $677M | $408M | $269M | +66% |
| Net loss | $27.4M | $502K | $26.9M | 55× |
| Costs & expenses | $704M | $408M | $296M | +72% |
| Operating costs | $684M | $399M | $285M | +72% |
| Interest & other, net | $16.1M | $9.5M | $6.6M | +69% |
| Income tax | $4.2M | $262K | $3.9M | 16× |
| Cost of revenue | $558M | $349M | $209M | +60% |
| SG&A | $111M | $36.1M | $75.3M | +209% |
| Other operating costs | $14.9M | $13.8M | $1.1M | +8% |
| Operating cash sources | $88.6M | $20.3M | $68.3M | +337% |
| Depreciation & amortization | $23.7M | $19.6M | $4.2M | +21% |
| Share-based compensation | $64.9M | $712K | $64.2M | 91× |
| Net loss absorbed | $27.4M | $502K | $26.9M | 55× |
| Working capital & other | $46.9M | −$393K | $47.3M | — |
| Operating cash flow | $14.2M | $20.2M | −$5.9M | -29% |
| Free cash flow (OCF − capex) | $3.8M | $17.4M | −$13.6M | -78% |
| Capital expenditures | $10.4M | $2.8M | $7.7M | +276% |
Questions
How much did Solv Energy's revenue grow year over year in Q1 2026?
Solv Energy's revenue rose $269M (+66%) from $408M in Q1 2025 to $677M in Q1 2026.
What drove Solv Energy's revenue change in Q1 2026?
New Construction +$274M (+73%); Other −$3.1M (-73%); Existing Infrastructure −$1.5M (-6%).