Overview
Southland Q2 revenue falls 14% yr/yr, missing analyst expectations, per LSEG data
Company achieves positive gross profit margin, reversing prior year's loss
Net loss for Q2 narrows significantly compared to last year
Outlook
Southland sees positive outlook due to government spending initiative
Result Drivers
DISCIPLINED APPROACH - Margin improvement attributed to disciplined bidding and operations, per CEO Frank Renda
MATERIALS & PAVING IMPACT - Materials & Paving business negatively impacted gross profit by $3.8 mln in Q2
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $215.40 mln | $245.80 mln (4 Analysts) |
Q2 Net Income |
| -$10.30 mln |
|
Q2 Gross Margin |
| 6.2% |
|
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 $5.00, about 10.2% above its August 11 closing price of $4.49
Press Release: ID:nBw5TcR7Pa