Overview
Southland Q3 revenue rises 23.1% yr/yr but misses analyst expectations
Company reports Q3 gross profit margin of 1.5%, improving from a loss last year
Net loss impacted by non-cash tax charge and legacy project adjustments
Outlook
Company did not provide specific future guidance in the statement
Result Drivers
CIVIL SEGMENT - Strength in civil segment and execution of new core work drove revenue growth, per CEO Frank Renda
LEGACY PROJECTS - Unfavorable adjustments related to legacy projects impacted results, per CEO Frank Renda
MATERIALS & PAVING IMPACT - Materials & Paving business contributed $22.9 mln to revenue but negatively impacted gross profit by $3.0 mln
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $213.30 mln | $241.52 mln (4 Analysts) |
Q3 Net Loss attributable to Southland Stockholders | -$75.27 mln | ||
Q3 Gross Margin | 1.50% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Southland Holdings Inc is $6.00, about 24.3% above its November 11 closing price of $4.54
Press Release: ID:nBw8Ptg6Xa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)