SLND
Southland Holdings, Inc.3.7000
+0.1200+3.35%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms core strategy
Q&A was thin, largely reaffirming prepared remarks on legacy resolutions and core focus. Management confirmed data-center pipeline active at $15M-$75M sizes, with the $48M award on track and margins matching Civil segment norms around 5%. Asset sales for debt paydown won't hinder bidding or backlog execution, targeting idle gear and M&P wind-down. No contradictions or hedges; direct answers to growth and restructuring queries. Investors watch core margin delivery. Southland stays selective.
Key Stats
Market Cap
200.22MP/E (TTM)
-Basic EPS (TTM)
-1.75Dividend Yield
0%Recent Filings
8-K
Q4 crushed by WSCC ruling
Southland Holdings posted Q4 revenue of $104M and full-year $772M, down sharply from prior year, with Q4 gross loss of $193M and annual net loss of $307M driven by $136M WSCC ruling hit on a legacy project. Sureties replaced senior lender on $110M debt, waived payments saving $27M next year, and funded $116M for projects. Backlog holds at $2B. Losses mounted fast.
10-K
FY2025 results
Southland Holdings posted FY2025 revenue of $772M, down 21% y/y from $980M, with backlog shrinking to $2.0B amid project completions. Transportation drove the plunge, revenue falling 35% y/y to $430M with a crushing $172M gross loss (40% margin) from the WSCC Ruling's $132M hit in Q4. Civil held steadier at $342M revenue (up 6% y/y) and 4.8% gross margin. Q4 bore the WSCC brunt, derecognizing $46M revenue while costs spiked $89M. Backlog signals deceleration. Sureties stepped in post-year-end. Weather stalls quarterly momentum.
8-K
Loan reassigned to sureties
Southland Holdings assigned its $110M term loan to sureties on March 17, 2026, paying $15.4M ($14.4M principal) to prior lenders while terminating delayed draw commitments. Sureties waived payments, defaults until maturity, but demand asset sales for repayments. Sureties advanced $116M under GIAs, deferring repayment to March 27, 2027. No amendment assured.
8-K
Sureties advance $59M total
Southland Holdings received $5 million in surety funds from Markel on February 4, 2026, to cover bonded construction obligations, adding to $54 million previously advanced by Berkshire and Zurich for a $59 million total. Sureties now hold indemnity claims against the company. Negotiations underway with lenders and sureties for more funds and long-term financing. No assurances of success.
8-K
American Bridge hit with $57M judgment
Southland Holdings' subsidiary American Bridge lost a $57 million judgment on January 15, 2026, in a King County trial over Washington State Convention Center construction disputes with Clark/Lewis Joint Venture. American Bridge plans to appeal, rejecting the ruling as unsupported. No financial impact yet quantified. The company scrambles to assess Credit Agreement effects.
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