Southland reports preliminary Q2 2023 gross loss of $34M; legacy paving charges of $49M

Southland Holdings, Inc.

2023-Q2 EPS reported -$0.38 revenue$531,756,000

Revenue $257M, gross loss $34M, positive operating cash flow $24M.
Backlog $2.7B, with ~12% from legacy large-scale paving work.
Unfavorable charges of ~$49M tied to winding down legacy asphalt/concrete paving.
Sold various materials production assets in Q2 to reallocate to core operations.
CEO disappointed; expects discontinuing large-scale materials production to benefit long term.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Southland Holdings, Inc. reported the three months ended June 30, 2023 results: revenue $257 million.

Period: the three months ended June 30, 2023
Revenue: $257 million
Result: preliminary results

Exact text from the filing

a leading provider of specialized infrastructure construction services, today announced preliminary financial results for the three months ended June 30, 2023. ● Revenue: $257 million ● Gross loss: $34 million ● Positive cash flow from operating activities: $24 million ● Backlog $2.7 billion Southland incurred significant unfavorable charges during the

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Southland Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-005303

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