Southland Holdings Reports Q3 2026 Profitability Driven by Civil Segment Growth
Southland Holdings (SLND) returned to profitability in the third quarter of 2026, reporting net income of $33.7 million ($0.62 per diluted share), a significant turnaround from a $75.3 million loss in the same period last year. Revenue grew 9.6% to $233.8 million, fueled by new core work in the Civil segment and data center projects. Gross profit margins saw a substantial increase to 8.8%, up from 0.9% in the prior year. The company's performance was bolstered by strong results in its Civil and Transportation segments, though these gains were partially offset by a $10.2 million gross loss in Materials & Paving due to underperforming legacy projects. EBITDA reached $43.2 million, which included a one-time $28.7 million settlement gain. Despite the positive earnings, the company noted it received notice from the NYSE American regarding non-compliance with stockholders' equity listing standards.