--- title: "Southland | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 172.41 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286155124.md" datetime: "2026-05-12T20:41:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286155124.md) - [en](https://longbridge.com/en/news/286155124.md) - [zh-HK](https://longbridge.com/zh-HK/news/286155124.md) --- # Southland | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 172.41 M Revenue: As of FY2026 Q1, the actual value is USD 172.41 M, beating the estimate of USD 172.23 M. EPS: As of FY2026 Q1, the actual value is USD -0.52, missing the estimate of USD -0.415. EBIT: As of FY2026 Q1, the actual value is USD -11.12 M. #### Financial Performance Overview 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 & Paving business contributed $11.0 million to revenue and negatively impacted gross profit by - $13.1 million in the first quarter of 2026. #### Segment Revenue - **Civil Segment Revenue**: $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. - **Transportation Segment Revenue**: $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. #### Segment Gross Profit/Loss - **Civil Segment Gross Profit**: $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. - **Transportation Segment Gross Loss**: - $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. #### Operational Metrics 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. #### Cash Flow 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. #### Outlook Southland Holdings, Inc.’s President & 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. ### Related Stocks - [SLND.US](https://longbridge.com/en/quote/SLND.US.md) ## Related News & Research - [Southland Announces First Quarter 2026 Results | WS Stock News](https://longbridge.com/en/news/286153118.md) - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md)