Southland Holdings Q4 revenue slumps, net loss widens sharply
Overview
US infrastructure builder's Q4 revenue fell 61% yr/yr, impacted by adverse legal ruling
Q4 net loss widened sharply, driven by legal charge and lower revenue
Outlook
Company expects to monetize non-core assets to pay down debt and strengthen the balance sheet
Southland plans to focus bidding on core markets with higher margins, including water resource and bridge projects
Result Drivers
LEGAL CHARGE - Q4 results impacted by $135.8 mln unfavorable adjustment from adverse court ruling on Washington State Convention Center project
SEGMENT LOSS - Materials & Paving business negatively impacted gross loss by $26.9 mln in Q4
Company press release: ID:nBw3GR85sa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue |
| $104 mln |
|
Q4 Net Income |
| -$216.4 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
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 $5.50, about 241.6% above its March 26 closing price of $1.61
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