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, Inc. (NYSE American: SLND) has completed a $42.5 million sale-leaseback transaction involving three properties in Texas and Pennsylvania. The proceeds will be allocated as follows:
- $25 million for general corporate purposes
- $16 million for debt reduction
- Remainder for transaction-related expenses
This strategic move aims to optimize Southland's asset portfolio and improve its financial position. The sale-leaseback structure allows the company to maintain operational control of the properties while freeing up capital for other business initiatives and debt management.
Southland Holdings announced its Q1 2024 results, reporting a revenue of $288.1 million, a 5% increase from Q1 2023's $274.8 million. The gross profit rose to $20.4 million, up from $18.9 million. However, the company faced a net loss of $0.4 million, significantly improved from the $4.7 million loss in Q1 2023. The Adjusted EBITDA fell to $10.9 million from $12.7 million. The backlog decreased to $2.64 billion from $2.83 billion as of December 31, 2023. Despite the improvements in revenue and gross profit, the company saw a decline in its Adjusted EBITDA and backlog, affecting its long-term outlook.
Southland Holdings (NYSE American: SLND) reported its Q1 2024 results. The company saw a 5% increase in revenue to $288.1 million compared to Q1 2023's $274.8 million. Gross profit rose to $20.4 million from $18.9 million, with a margin increase from 6.9% to 7.1%. The net loss attributable to stockholders decreased significantly to $0.4 million, or $(0.01) per share, from $4.7 million, or $(0.11) per share, in Q1 2023. Adjusted EBITDA fell to $10.9 million from $12.7 million. Southland's backlog decreased to $2.64 billion from $2.83 billion at the end of December 2023. Selling, general, and administrative expenses dropped by 7.6% to $14.4 million. The company highlighted strong demand in its core markets due to substantial federal and local infrastructure investments.
Southland Holdings, awarded a $202 million contract to construct the Bull Run Filtration Facility Project in Portland, Oregon, through its subsidiary Oscar Renda Contracting. The project includes various water filtration components to provide safe drinking water to approximately one million residents in three counties. The project is expected to be completed in the second quarter of 2024.
Southland Holdings, a specialized infrastructure construction services provider, will release its first quarter 2024 results on May 13, 2024. A conference call will be held on May 14, 2024, accessible online.
Southland Holdings, a company listed under NYSE American as SLND, announced that its subsidiaries, Oscar Renda Contracting and Southland Contracting, secured three new civil segment projects worth $150 million. These projects involve water pipeline, tunnel, and water treatment plant improvements, contributing to the company's second quarter 2024 backlog.
Summary not available.
Summary not available.
Summary not available.
Summary not available.