Filing Flows › Solv Energy (MWH) › Q1 2026
Solv Energy (MWH) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Solv Energy (MWH) reported revenue of $677M for the first quarter 2026 (Q1 2026), +66% from a year earlier. Operating margin was -1.1%, net loss $27.4M (4.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $677M | — | +66% |
| Operating profit | −$7.2M | — | — |
| Net earnings | −$27.4M | — | — |
| Operating cash flow | $14.2M | — | -29% |
| Free cash flow | $3.8M | — | -78% |
What changed
Revenue was $676.8M in Q1 2026, up 66% year over year. New Construction was the largest line at 96% of revenue. New Construction added $273.6M year over year (up 73%), 102% of the total change. Other declined 73%.
Gross margin was 17.6%, up 3.1 points from a year earlier. Operating costs exceeded revenue by $7.2M, an operating margin of -1.1%. Operating expenses grew 153% against revenue growth of 66%. The fastest-growing cost line was SG&A (+209%). The quarter ended with a net loss of $27.4M. Minority interests bore $4.1M of it: to shareholders the quarter was a loss of $23.4M. Net interest and other expense of $16.1M was the main reason.
Operating cash flow was $14.2M (down 29% year over year). Non-cash charges added back $23.7M of depreciation and amortization and $64.9M of share-based compensation. Working capital and other items used $46.9M. Capital expenditures of $10.4M left free cash flow of $3.8M.
Questions
What was Solv Energy's revenue in the first quarter 2026?
Solv Energy (MWH) reported revenue of $677M for the first quarter 2026 (Q1 2026), +66% from a year earlier.
Was Solv Energy profitable in the first quarter 2026?
Operating loss was $7.2M (-1.1% of revenue) and net loss $27.4M.
Source: Solv Energy 10-Q on SEC EDGAR.