Southland Holdings reports Q3 adjusted EPS 8c, consensus 10c

Reports Q3 revenue $312.47M, consensus $300.65M. Reports Q3 backlog of $2.54B. Southland’s president and CEO, Frank Renda, said, “This quarter’s results demonstrate positive contribution from recently awarded work in both our Civil and Transportation segments. While consolidated revenues declined this quarter compared to the same period last year, our core business delivered strong margins, offset by certain legacy projects as we work through completing lower margin backlog from prior years. We continue to see elevated bidding opportunities which we expect to carry into 2024 as funds from the Infrastructure Investment and Jobs Act (IIJA) are allocated towards critical infrastructure projects across the country.”