Welcome to our dedicated page for Southland Holdings news (Ticker: SLND), a resource for investors and traders seeking the latest updates and insights on Southland Holdings stock.
Southland Holdings, Inc. (SLND) generates a steady flow of news tied to its role as an infrastructure construction company in North America. The company regularly issues Business Wire press releases and files current reports on Form 8-K to communicate financial results, project awards, governance developments, and financing updates. These items provide insight into how Southland’s Civil and Transportation segments perform over time and how its backlog of large infrastructure projects evolves.
Investors following SLND news will see detailed quarterly and annual earnings announcements, which include revenue, gross profit or loss, segment performance, backlog balances, and reconciliations of non-GAAP measures such as EBITDA, Adjusted EBITDA, and Adjusted Net Loss. Management commentary in these releases often addresses trends in margins, the impact of specific businesses like Materials & Paving, and the distinction between legacy backlog and new core work.
Southland also issues news about project awards in both its Civil and Transportation segments. Recent examples include water resource projects in the Southwest and in the City of Austin, Texas through Oscar Renda Contracting, and a bridge rehabilitation project in the Pacific Northwest through American Bridge Company. These announcements typically note the approximate contract value and indicate when the projects will be added to backlog.
Additional news items cover corporate and financing developments, such as the appointment of a Chief Strategy Officer or Chief Transformation Officer, annual meeting voting results, and surety-related financing arrangements disclosed via 8-K filings. For investors and analysts, Southland’s news stream offers a view into both operational execution on large infrastructure projects and the company’s efforts to manage its capital structure and governance framework. Bookmarking the SLND news page allows readers to monitor these updates as new press releases and filings are issued.
Southland Holdings (NYSE American: SLND) has announced its upcoming financial results release schedule. The specialized infrastructure construction services provider will disclose its fourth quarter and full year 2024 results on Tuesday, March 4th, 2025 after market close.
The company will host a conference call the following day, Wednesday, March 5th, 2025, at 10:00 a.m. Eastern Time. Investors and interested parties can access the call through the company's website at www.southlandholdings.com, where a replay will also be available after the call.
Southland Holdings (NYSE: SLND) has announced the conversion of $20 million in promissory notes held by management into common stock. The company issued 5,830,899 shares at $3.43 per share to three key executives: Frank Renda (President and CEO), Rudy Renda (Co-COO and EVP), and Tim Winn (Co-COO and EVP). The transaction, completed on December 27, 2024, was conducted as a private placement under Section 4(a)(2) of the Securities Act and Regulation D. The conversion aims to strengthen the company's balance sheet and reflects management's confidence in Southland's long-term value potential.
Southland Holdings subsidiary Oscar Renda Contracting has secured a $60 million contract for the construction of a new wastewater treatment plant in the Southwest. The project encompasses comprehensive infrastructure development, including new headworks, influent pump station, extended aeration basin, administration building, utility water station, and crew building renovation. The contract will be added to the company's fourth quarter 2024 backlog.
Southland Holdings (NYSE: SLND) reported disappointing Q3 2024 financial results. Revenue decreased 44.5% to $173.3 million compared to $312.5 million in Q3 2023. The company recorded a gross loss of $51.1 million versus a gross profit of $29.5 million in the prior year. Net loss attributable to stockholders was $54.7 million, or $(1.14) per share, compared to net income of $3.8 million, or $0.08 per share in Q3 2023. EBITDA was negative at $(58.7) million versus $22.3 million last year. Despite poor quarterly performance, backlog remained strong at $2.74 billion, up from $2.54 billion year-over-year.
Southland Holdings (NYSE American: SLND) has announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The specialized infrastructure construction services provider will host a conference call to discuss the results on Wednesday, November 13th, 2024, at 10:00 a.m. Eastern Time. The call will be accessible through the company's website, and a replay will be available afterward.
Southland Holdings (NYSE American: SLND) has announced the closing of a new $160 million senior secured term loan facility with Callodine Commercial Finance, The facility includes a $140 million initial draw term loan and a $20 million committed delayed draw term loan, both due in 2028. From the initial $140 million, $96 million was used to refinance existing debt, $37.8 million will be available for general corporate purposes, and the remainder covers transaction costs.
The new facility replaces Southland's previous revolving credit facility and certain equipment notes. CEO Frank Renda stated that this move strengthens Southland's balance sheet and provides financial flexibility for executing their plan and pursuing opportunities in core markets. Texas Capital Securities served as the exclusive financial advisor for the transaction.
Southland Holdings, Inc. (NYSE American: SLND) announced that its joint venture, Red River Biosolids Partners General Partnership, has executed a contract with the City of Winnipeg for the North End Sewage Treatment Plant Biosolids Facilities Upgrade project. The joint venture includes Southland's subsidiary, Oscar Renda Contracting of Canada Inc., Aecon Group Inc. (TSX: ARE), and MWH Constructors Canada
The project begins with a development phase contract valued at approximately $70 million USD, of which Southland holds a 33.3% share. This will be added to Southland's backlog in Q3 2024. The scope includes designing and constructing a new biosolids facility and modifying existing primary clarification. The North End Sewage Treatment Plant provides 70% of Winnipeg's wastewater treatment capacity.
Southland Holdings (NYSE American: SLND) has announced that its subsidiary, Oscar Renda Contracting, has been awarded a $132 million contract by the Bureau of Reclamation. The project involves constructing a new water treatment plant, including a storage facility and site improvements. The scope also includes demolition of existing structures. Southland secured this contract based on offering the best value to their long-standing client. This significant award will be included in the company's third quarter 2024 backlog.
Southland Holdings (NYSE: SLND) reported Q2 2024 financial results, showing a revenue decrease of 2.1% to $251.5 million compared to Q2 2023. The company experienced a gross loss of $40.0 million, up from $33.8 million in Q2 2023. Net loss attributable to stockholders widened to $46.1 million, or $(0.96) per share, compared to $12.8 million, or $(0.27) per share in Q2 2023. Adjusted EBITDA was $(49.9) million. The company settled several contract disputes, resulting in a $40 million non-recurring charge in Q2. Despite challenges, Southland reported positive cash flow from operations of $27.4 million and new awards of $374.8 million. The backlog stood at $2.74 billion as of June 30, 2024.
Southland Holdings (NYSE American: SLND) has announced its schedule for the release of second quarter 2024 financial results. The company, a leading provider of specialized infrastructure construction services, will disclose its Q2 2024 results on Monday, August 12, 2024, after market close. Additionally, Southland will host a conference call on Tuesday, August 13, 2024, at 10:00 a.m. Eastern Time to discuss the results. Investors and interested parties can access the call through the company's website or a provided link. A replay of the conference call will be made available on Southland's website following the event.