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/Mis Actual Consensu

s s

Estimate

Q3 Miss $213.30 $241.52

Revenue mln mln (4

Analysts

)

Q3 Net -$75.27

Loss mln

attribut

able to

Southlan

d

Stockhol

ders

Q3 Gross 1.50%

Margin

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 ( SLND ) is $6.00, about 24.3% above its November 11 closing price of $4.54

Press Release:

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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.)