<span item_type="fundamental" item_id="8318a97928b1dc36675af7cf13770b54" counter_id="ST/US/SLND" env="prod"></span><span item_type="announcement" item_id="647656799713166721" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 172.41 M, beating the estimate of USD 172.23 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.52, missing the estimate of USD -0.415.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -11.12 M.</p><p></p><h4>Financial Performance Overview</h4><p>Southland Holdings, Inc. reported a gross loss of - $4.8 million for the quarter ended March 31, 2026, a decrease from a gross profit of $21.5 million in the prior year period. The gross profit margin for the quarter was -2.8%, down from 9.0% for the quarter ended March 31, 2025. Net loss attributable to stockholders was - $28.4 million for the quarter ended March 31, 2026, compared to a net loss of - $4.6 million for the same period in 2025. EBITDA for the quarter ended March 31, 2026, was - $14.1 million, a decrease from $10.1 million in the comparable prior year quarter. The operating loss was - $19,699 thousand for the three months ended March 31, 2026, compared to an operating income of $5,015 thousand for the three months ended March 31, 2025. Selling, general, and administrative costs decreased by $1.5 million, or 9.2%, to $14.9 million for the three months ended March 31, 2026, though as a percentage of revenue, they increased to 8.7% from 6.9% in the prior year. The Materials &amp; Paving business contributed $11.0 million to revenue and negatively impacted gross profit by - $13.1 million in the first quarter of 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></p><h4>Segment Revenue</h4><ul><li><strong>Civil Segment Revenue</strong>: $103,792 thousand (60.2% of total revenue) for the quarter ended March 31, 2026, compared to $102,916 thousand (43.0% of total revenue) for the prior year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></li><li><strong>Transportation Segment Revenue</strong>: $68,613 thousand (39.8% of total revenue) for the quarter ended March 31, 2026, compared to $136,570 thousand (57.0% of total revenue) for the prior year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></li></ul><h4>Segment Gross Profit/Loss</h4><ul><li><strong>Civil Segment Gross Profit</strong>: $14,652 thousand, representing 14.1% of segment revenue for the quarter ended March 31, 2026, compared to $22,631 thousand, or 22.0% of segment revenue, for the prior year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></li><li><strong>Transportation Segment Gross Loss</strong>: - $19,408 thousand, representing -28.3% of segment revenue for the quarter ended March 31, 2026, compared to - $1,151 thousand, or -0.8% of segment revenue, for the prior year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></li></ul><h4>Operational Metrics</h4><p>Southland Holdings, Inc. reported a backlog of $1.88 billion as of March 31, 2026. The balance of backlog was $2,031,080 thousand as of December 31, 2025, with new contracts, change orders, and adjustments totaling $18,887 thousand, and contract revenue recognized in 2026 of - $172,405 thousand, resulting in a balance of $1,877,562 thousand as of March 31, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></p><h4>Cash Flow</h4><p>Net cash used in operating activities was - $133,865 thousand for the three months ended March 31, 2026, a significant change from $6,429 thousand provided by operating activities in the prior year period. Net cash provided by investing activities was $1,319 thousand for the three months ended March 31, 2026, up from $1,117 thousand in the prior year. Net cash provided by financing activities was $96,987 thousand for the three months ended March 31, 2026, compared to - $13,989 thousand used in the prior year, largely due to $125,137 thousand in proceeds from advancement of surety funds. Cash and cash equivalents stood at $20,544 thousand as of March 31, 2026, down from $52,713 thousand as of December 31, 2025. Total cash and cash equivalents and restricted cash at the end of the period was $31,952 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></p><h4>Outlook</h4><p>Southland Holdings, Inc.’s President &amp; Chief Executive Officer noted encouragement from early progress on their strategic plan, highlighting improved operations and a 14% gross margin in the Civil segment. He also stated that while consolidated results include non-cash adjustments from legacy disputes, the core project portfolio is performing as planned. The company continues to focus on optimizing its asset base, maintaining strict bidding discipline, and prioritizing high-margin opportunities in its core end markets.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1883814/000182912626005017/southland_ex99-1.htm"></span></p>

Southland | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 172.41 M