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SLND Southland Holdings News Story

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Southland Holdings Q2 revenue down 14%, misses estimates

Overview

Southland Q2 revenue falls 14% yr/yr, missing analyst expectations, per LSEG data

Company achieves positive gross profit margin, reversing prior year's loss

Net loss for Q2 narrows significantly compared to last year

Outlook

Southland sees positive outlook due to government spending initiative

Result Drivers

DISCIPLINED APPROACH - Margin improvement attributed to disciplined bidding and operations, per CEO Frank Renda

MATERIALS & PAVING IMPACT - Materials & Paving business negatively impacted gross profit by $3.8 mln in Q2

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 RevenueMiss$215.40 mln$245.80 mln (4 Analysts)
Q2 Net Income-$10.30 mln
Q2 Gross Margin6.2%
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the construction & engineering peer group is "buy" Wall Street's median 12-month price target for Southland Holdings Inc is $5.00, about 10.2% above its August 11 closing price of $4.49 Press Release: ID:nBw5TcR7Pa (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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