Filing Flows › Solv Energy (MWH) › Q2 2026
Solv Energy (MWH) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 14, 2026
Solv Energy (MWH) reported revenue of $951M for the second quarter 2026 (Q2 2026), +77% from a year earlier and +41% from the quarter before. Operating margin was 7.3%, net earnings $37.0M (3.9% of revenue).
Solv Energy, Q2 2026: revenue $951M (+78% year over year), operating margin 7.3%, net earnings $37.0M, operating cash flow $31.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $951M | +41% | +77% |
| Gross profit | $140M | +17% | +23% |
| Operating profit | $69.7M | — | +20% |
| Net earnings | $37.0M | — | -16% |
| Operating cash flow | $31.8M | +123% | +4% |
| Free cash flow | $26.3M | +591% | -7% |
What changed
Revenue was $951.2M in Q2 2026, up 77% year over year and up 41% from the previous quarter. New Construction was the largest line at 96% of revenue. New Construction added $427.0M year over year (up 88%), 103% of the total change. Other declined 24%.
Gross margin was 14.7%, down 6.4 points from a year earlier. Operating profit was $69.7M, a 7.3% margin (down 3.5 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 11% margin then. Operating expenses grew 27% against revenue growth of 77%. The fastest-growing cost line was SG&A (+28%). Net earnings were $37.0M, down 16% year over year. The effective tax rate was 8.0%.
Operating cash flow was $31.8M (up 4% year over year), 48% of net income including minority interests. Non-cash charges added back $26.8M of depreciation and amortization and $14.8M of share-based compensation. Working capital and other items used $76.6M. Capital expenditures of $5.5M left free cash flow of $26.3M.
Questions
What was Solv Energy's revenue in the second quarter 2026?
Solv Energy (MWH) reported revenue of $951M for the second quarter 2026 (Q2 2026), +77% from a year earlier and +41% from the quarter before.
Was Solv Energy profitable in the second quarter 2026?
Operating profit was $69.7M (7.3% of revenue) and net earnings $37.0M.
Source: Solv Energy 10-Q on SEC EDGAR.