Revenue: As of FY2026 Q2, the actual value is USD 113.31 M, missing the estimate of USD 175.51 M.

EPS: As of FY2026 Q2, the actual value is USD -1.55, missing the estimate of USD -0.425.

EBIT: As of FY2026 Q2, the actual value is USD -81.69 M.

Financial Performance for the Three Months Ended June 30, 2026

Overall Performance

Southland Holdings, Inc. reported revenue of $113.3 million, a decrease from $215.4 million for the same period in 2025. The company recorded a gross loss of -$71.2 million, compared to a gross profit of $13.0 million in the prior year, resulting in a gross profit margin of -62.9%, down from 6.0% in 2025. Net loss attributable to stockholders was -$84.3 million, significantly wider than the net loss of -$10.3 million in 2025. EBITDA for the quarter was -$73.4 million, a decrease from $4.2 million in the previous year. Operating loss increased to -$87.938 million from -$604 thousand in the prior year. Selling, general, and administrative expenses rose to $16.7 million, an increase of $3.1 million or 23.1%, compared to $13.572 million in 2025.

Segment Revenue

• Civil Segment: Generated revenue of $40.987 million, representing 36.2% of total revenue, a decrease from $81.530 million (37.9% of total revenue) in 2025.
• Transportation Segment: Contributed $72.319 million in revenue, accounting for 63.8% of total revenue, down from $133.852 million (62.1% of total revenue) in 2025.

Segment Gross Profit (Loss)

• Civil Segment: Reported a gross loss of -$27.074 million, which was -66.1% of segment revenue, contrasting with a gross profit of $14.257 million (17.5% of segment revenue) in 2025.
• Transportation Segment: Incurred a gross loss of -$44.159 million, or -61.1% of segment revenue, a significant decline from a gross loss of -$1.289 million (-1.0% of segment revenue) in 2025.

Financial Performance for the Six Months Ended June 30, 2026

Overall Performance

Southland Holdings, Inc. recorded revenue of $285.7 million, a decrease of $169.2 million or 37.2% from $454.868 million in 2025. The company reported a gross loss of -$75.989 million, compared to a gross profit of $33.447 million in 2025, with gross margin decreasing from 7.4% to -26.6%. Net loss attributable to Southland Stockholders was -$112.619 million, compared to -$14.858 million in the prior year. Operating loss was -$107.637 million, a significant decline from an operating income of $3.410 million in 2025. Selling, general, and administrative costs for the six months were $31.6 million, an increase of $1.6 million or 5.4% from $30.037 million in 2025. EBITDA for the six-month period was -$87.482 million, down from $14.274 million in the prior year.

Segment Revenue

• Civil Segment: Generated revenue of $144.779 million, representing 50.7% of total revenue, compared to $184.446 million (40.5% of total revenue) in 2025.
• Transportation Segment: Contributed $140.932 million in revenue, accounting for 49.3% of total revenue, a decrease from $270.422 million (59.5% of total revenue) in 2025.

Segment Gross Profit (Loss)

• Civil Segment: Reported a gross loss of -$12.422 million, or -8.6% of segment revenue, a change from a gross profit of $36.766 million (19.9% of segment revenue) in 2025.
• Transportation Segment: Incurred a gross loss of -$63.567 million, or -45.1% of segment revenue, compared to a gross loss of -$3.319 million (-1.2% of segment revenue) in 2025.

Cash Flow (Six Months Ended June 30, 2026)

• Net cash used in operating activities: -$171.890 million, compared to net cash provided by operating activities of $0.996 million in 2025.
• Net cash provided by investing activities: $7.625 million, an increase from $0.758 million in 2025.
• Net cash provided by financing activities: $142.534 million, a significant change from net cash used in financing activities of -$26.101 million in 2025.
• Cash and cash equivalents and restricted cash at end of period: $45.723 million, down from $63.296 million at the end of the prior period.

Other Key Metrics

• Backlog: Southland Holdings, Inc. reported a backlog of $1.676688 billion as of June 30, 2026, down from $2.031080 billion as of December 31, 2025.
• Materials & Paving Business: This segment contributed $11.7 million to revenue in the three months ended June 30, 2026, and negatively impacted gross profit by -$16.3 million. For the six months ended June 30, 2026, it contributed $22.7 million to revenue and negatively impacted gross profit by -$29.4 million.

Outlook

Southland Holdings, Inc. is working towards finalizing a comprehensive financing agreement and credit amendment with its surety partners. The company notes encouragement from the continued support and confidence in its strategic plan. It remains focused on capturing new opportunities in core markets, as demonstrated by the recent Winnipeg North End Sewage Treatment Plant award.