Southland posts Q2 net loss of $46.1M; settles disputes with ~$40M non-recurring charge

Southland Holdings, Inc.

2024-Q2 EPS reported -$0.97 revenue$539,609,000

Revenue $251.5M vs $256.9M YoY; gross loss widened to $40.0M from $33.8M.
Net loss $46.1M ($0.96/sh) vs $12.8M ($0.27/sh); adjusted net loss also $0.96/sh.
Non-recurring $40M charge from contract dispute settlements in Materials & Paving; $58M cash expected in Q3.
New awards $374.8M; backlog grew to $2.74B; operating cash flow positive $27.4M.
Appointed Frank Renda as Interim Chairman of the Board.

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