Southland Holdings, Inc. ( (SLND) ) has released its Q4 earnings. Here is a breakdown of the information Southland Holdings, Inc. presented to its investors.
Southland Holdings, Inc., headquartered in Grapevine, Texas, is a prominent provider of specialized infrastructure construction services, operating across various sectors including bridges, tunneling, and water treatment facilities. The company is recognized as one of the largest infrastructure construction entities in North America with a history dating back to 1900.
In its latest earnings report, Southland Holdings announced a decline in revenue and profitability for both the fourth quarter and the full year of 2024. The company reported a revenue of $267.3 million for the fourth quarter, a decrease from $316.2 million in the same period the previous year. For the full year, revenue stood at $980.2 million, down from $1.2 billion in 2023.
Key financial metrics revealed a challenging year for Southland, with a gross loss of $63.0 million for 2024, compared to a gross profit of $35.8 million in 2023. The net loss attributable to stockholders widened significantly to $105.4 million, or $(2.19) per share, from $19.3 million, or $(0.41) per share, the previous year. Despite these setbacks, the company maintained a substantial backlog of $2.57 billion, indicating ongoing demand for its services.
Looking ahead, Southland’s management remains optimistic about the future, focusing on executing new core projects and leveraging opportunities in its core markets. The company aims to navigate the challenges of winding down legacy work while capitalizing on sustained demand for its specialized services, positioning itself for long-term success.