Southland Holdings, Inc. announced its first-quarter 2025 financial results on May 13, 2025. The company reported revenue of $239.5 million, a 16.9% decrease from $288.1 million in Q1 2024. The Materials & Paving (M&P) business contributed $18.1 million to revenue.
Gross profit for the quarter increased to $21.5 million from $20.4 million in Q1 2024, with the gross margin improving to 9.0% from 7.1%. The M&P business negatively impacted gross profit by $9.1 million.
Net loss attributable to Southland stockholders was $(4.6) million, or $(0.08) per share, compared to a net loss of $(0.4) million, or $(0.01) per share, in Q1 2024. Notably, net cash provided by operating activities turned positive at $6.4 million, a significant improvement from a $9.9 million use in Q1 2024.
As of March 31, 2025, the company's backlog stood at $2.47 billion. CEO Frank Renda stated that the company is off to a strong start in 2025, delivering improved margins and positive operating cash flow, expressing confidence in driving long-term value.
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