SOLV Energy Reports Record Q3 Revenue on Surging Power Demand

SOLV Energy, Inc. (MWH) announced record third-quarter and nine-month financial results, propelled by a broad market pivot toward utility-scale solar and battery storage infrastructure. Driven by widespread electrification, digital infrastructure expansion, and domestic manufacturing growth, third-quarter revenue reached $1.2 billion, representing a 65% increase compared to the same period last year. Total revenue for the first nine months climbed 69% to a record $2.9 billion, according to company management.

CEO George Hershman noted that the company executed more work during the quarter than at any prior point in its history, including its largest-ever project. To support this expansion, SOLV Energy recently acquired ASB Energy Services, a move designed to bolster its high-voltage substation and battery energy storage system capabilities. The firm is also incorporating robotics and automation to manage the rising complexity of gigawatt-scale developments.

SOLV Energy raised its full-year 2026 financial guidance across all core metrics, backed by a robust $9.2 billion project backlog and strong operational execution.

What to watch next: Monitor how the company navigates supply chain constraints and integrates its recent acquisitions to fulfill its multi-billion-dollar backlog.