Southland Holdings Q3 Revenue Surges Despite Financial Challenges

Southland Holdings reported Q3 revenue of $213 million, a $40 million increase from 2024. Despite challenges from dispute resolutions and project delays, the company achieved a gross profit of $3.3 million and a gross profit margin of 1.5%. The backlog reached $2.26 billion, supported by $151 million in new awards and contract adjustments. However, the company's financial health remains a concern with negative margins and a distressed financial strength score.