SOLV Energy, Inc. (MWH) has a notice from 10% stockholder ASP VIII Alternative Investments Solstice, L.P. to sell Class A common stock under Rule 144. The filing lists a proposed sale of 4,859,347 shares of Class A common stock through Citadel Securities, LLC, with an aggregate market value of $134,944,066.19.
The shares were acquired before SOLV Energy, Inc.’s IPO. The notice also records that ASP VIII Alternative Investments Solstice, L.P. sold Class A common stock in registered secondary offerings on June 1 and June 4, 2026, which are stated as not counting toward the Rule 144 volume limits.
SOLV Energy, Inc. (MWH) received a notice that ASP Endeavor Investco plans to sell 798,412 shares of Class A common stock under Rule 144 through broker Citadel Securities, LLC. The shares have an aggregate market value of $22,171,901.24, with 131,056,519 shares of Class A common stock outstanding as of the notice date.
The seller previously acquired these shares from the issuer or in exchange for common units of SOLV Energy Holdings LLC. ASP Endeavor Investco also sold smaller blocks of stock in June 2026 in a registered secondary offering, which are excluded from the Rule 144 volume calculation.
SOLV Energy, Inc. reports strong growth for the three and six months ended June 30, 2026, after its February IPO and June secondary offering. Revenue reached $951.2 million for the quarter and $1.63 billion year-to-date, up from $536.0 million and $943.8 million in 2025, driven mainly by utility-scale solar and battery construction.
Quarterly net income was $66.8 million, with year-to-date net income of $39.4 million. Cash and cash equivalents were $364.0 million, and total assets $2.13 billion. The company fully repaid about $401.1 million of term debt at IPO, leaving no long-term debt outstanding and a new $200 million undrawn revolving credit facility.
Stockholders’ equity attributable to SOLV Energy, Inc. was $496.8 million, with an additional $354.4 million of non-controlling interests reflecting 38.9% of LLC Interests held by continuing owners. Total backlog was $8.86 billion, and remaining performance obligations on EPC contracts were $3.55 billion, expected to convert largely to revenue over the next 12–18 months.
SOLV Energy, Inc. reported strong second-quarter 2026 results with rapid top-line growth but lower margins. Revenue for the quarter ended June 30, 2026 was $951.2 million, up 77% year over year, bringing first-half revenue to $1.63 billion, an increase of 72%. Second-quarter gross profit was $139.6 million and net income was $66.8 million, helped by higher operating income and sharply lower interest expense after repayment of term debt in connection with the February 2026 IPO.
Despite growth, profitability metrics compressed: second-quarter gross margin fell to 14.7% and adjusted gross margin to 15.2%, versus 21.1% a year earlier, reflecting mix shifts away from certain 2025 project types and a reclassification of some performance-based compensation into cost of revenue. Adjusted EBITDA reached $117.5 million in the quarter and $210.0 million for the first half.
The company closed the acquisition of Roberson Waite Electric for $40.9 million in cash plus up to $9.0 million of contingent consideration, adding utility substation and battery-storage expertise. Management raised full-year 2026 guidance, now targeting revenue of $3.87–$3.97 billion and adjusted EBITDA of $485–$505 million, with an adjusted EBITDA margin of 12.5–12.7%.
American Securities–affiliated investment vehicles report significant beneficial ownership of SOLV Energy, Inc. Class A common stock and related LLC interests under a Schedule 13G/A. The filing covers Class A common stock with par value $0.0001 per share.
Based on 123,745,401 Class A shares outstanding as of the May 28, 2026 secondary prospectus, ASP Manager Corp. and American Securities LLC report shared voting and dispositive power over 157,821,741 shares/LLC Interests, representing 79.4% of the Class A common stock on an as‑exchanged basis. This aggregate amount includes Class A shares directly held by ASP VIII Alternative Investments Solstice, L.P. and LLC Interests in SOLV Energy Holdings LLC held by ASP Endeavor Investco LP, ASP SOLV Aggregator LP and SOLV Energy Management Holdings LP, which are exchangeable one‑for‑one into Class A shares at the issuer’s election or redeemable for cash as described in the Opco limited liability company agreement.
The structure also involves Class B common stock with voting but no economic rights, paired one‑for‑one with LLC Interests and surrendered upon redemption. The reporting group disclaims beneficial ownership beyond its pecuniary interest and notes that executive officers and other service providers hold the economic interests in Management Holdings.
SOLV Energy Management Holdings LP reported open-market sale transactions in this Form 4 filing.
SOLV Energy Management Holdings LP, a 10% owner of SOLV Energy, Inc., reported an open-market style transaction involving its holdings in SOLV Energy Holdings LLC. The firm exchanged 315,390 Opco LLC Interests for cash in connection with underwriters fully exercising their option to buy additional Class A common stock in a follow-on offering at $36.00 per share, net of underwriting discounts and commissions. An equal number of Class B common shares were cancelled, and the reporting person now holds 22,647,345 Opco LLC Interests. The Opco units can be redeemed on a one-for-one basis for Class A shares or for cash, while the associated Class B stock carries voting rights but no economic rights, and the reporting person disclaims beneficial ownership beyond any pecuniary interest.
SOLV Energy, Inc. Chief Operating Officer Kevin J. Deters reported an automatic disposition of derivative interests tied to the company’s follow-on equity offering. A required pro rata cash redemption of 16,640 SOLV Energy Management Holdings LP Units occurred in connection with the full exercise of the underwriters’ option in the follow-on public offering of Class A common stock.
The redeemed MH Units were valued at a price per unit equal to $36.00, matching the public offering price of Class A common stock net of underwriting discounts and commissions. The redemption also triggered a corresponding surrender of an equal number of Opco LLC Interests and cancellation of an equal number of shares of Class B common stock held by the partnership. Following this non-discretionary transaction, Deters holds 1,194,877 MH Units.
SOLV Energy, Inc. director Abram J. Adam reported dispositions of SOLV Energy Holdings LLC Interests to the issuer. On the reported date, a trust associated with him disposed of 3,639 Opco LLC Interests held indirectly, and he disposed of 1,319 Opco LLC Interests held directly.
According to the footnotes, these interests were exchanged for cash at a price per Opco LLC Interest equal to the public offering price of $36.00 per share of Class A common stock, net of underwriting discounts and commissions, in connection with a follow-on public offering. Following the transactions, he continued to hold 261,304 Opco LLC Interests indirectly through a trust and 94,698 Opco LLC Interests directly.
SOLV Energy, Inc. Chief Technology Officer Eric John Valleton reported an automatic, non-discretionary disposition to the issuer of 7,861 SOLV Energy Management Holdings LP units. The redemption was made for cash at a price per MH Unit equal to the $36.00 public offering price of the Class A common stock in a follow-on offering, net of underwriting discounts and commissions. The transaction reflects required pro rata adjustments tied to the full exercise of underwriters' options, and Valleton continues to hold 564,542 MH Units after the disposition.
SOLV Energy, Inc. director Daniel P. McQuade reported a disposition of SOLV Energy Holdings LLC Interests. He transferred 464 Opco LLC Interests back to the issuer for cash equal to the $36.00 per-share public offering price of Class A common stock, net of underwriting discounts. Following the transaction, he holds 33,317 Opco LLC Interests, with a corresponding cancellation of 464 shares of Class B common stock that carried voting but no economic rights.