SLND News & Events

Reports Q1 revenue $172.4M, two estimates $172.22M. "We are encouraged by the early progress made toward our strategic plan announced in March. Our strengthened capital position has improved operations, further evidenced by our Civil segment's 14% gross margin this quarter. While consolidated results reflect non-cash adjustments from certain legacy disputes, our core project portfolio continues to perform on plan," said Frank Renda, Southland's President & Chief Executive Officer. "As we continue to execute our plan, we remain focused on optimizing our asset base, maintaining strict bidding discipline and prioritizing the high-margin opportunities in our core end markets."

Reports Q4 revenue $104.0M, two estimates $212.1M. Frank Renda, Southland's President & CEO said, "While I am disappointed in this quarter's results, I am fully accountable for our results and am committed to the strategic plan we have launched to move Southland forward. The capital support provided by our sureties, including replacing our senior lender, is a significant vote of confidence in our team and provides us additional financial flexibility to focus on the project execution of our $2 billion backlog. As part of our plan, we continue to focus on core market opportunities with higher margins, as evidenced by the recently announced $118 million of project awards, led by a data center project. We are also taking decisive action to right-size our asset base and pay down debt, positioning Southland to emerge from this period as a leaner, more disciplined, and more profitable organization."

Southland Holdings down 28% in pre-market after Q4 results last night