Quarterly ResultMay 12, 2026, 04:42 PM
Southland Q1 Revenue $172.4M; Net Loss $(28.4)M; EBITDA $(14.1)M
AI Summary
Southland Holdings, Inc. announced its first quarter 2026 financial results, reporting a significant decline in revenue to $172.4 million from $239.5 million year-over-year. The company posted a gross loss of $4.8 million and a net loss attributable to stockholders of $28.4 million, compared to a net loss of $4.6 million in the prior year. Despite the overall negative results, the CEO highlighted progress on strategic plans and a strong 14% gross margin in the Civil segment, while acknowledging non-cash adjustments from legacy disputes.
Key Highlights
- Revenue for Q1 2026 decreased by 28.0% to $172.4 million from $239.5 million in Q1 2025.
- Gross loss was $4.8 million in Q1 2026, a significant drop from a gross profit of $21.5 million in Q1 2025.
- Net loss attributable to stockholders widened to $28.4 million, or $(0.52) per share, from $4.6 million, or $(0.08) per share, in Q1 2025.
- EBITDA was a loss of $14.1 million in Q1 2026, compared to a positive EBITDA of $10.1 million in Q1 2025.
- Backlog stood at $1.88 billion as of March 31, 2026.
- Civil segment revenue was $103.8 million with a gross margin of 14.1% in Q1 2026.
- Transportation segment revenue was $68.6 million with a gross loss margin of (28.3)% in Q1 2026.
- Materials & Paving business negatively impacted gross profit by $13.1 million in Q1 2026.