BTC Development Corp. completes $253 million IPO on NASDAQ
GRAPEVINE, Texas - Southland Holdings, Inc. (NYSE American: SLND and SLND WS) reported that its Civil segment subsidiary, Oscar Renda Contracting, has secured contracts for two water resource projects in the Southwest, valued at approximately $97 million. These projects are set to bolster the company’s first quarter 2025 backlog. The contracts represent about 10% of the company’s current annual revenue of $980 million. According to InvestingPro analysis, the stock appears slightly undervalued at its current price of $3.02.
Southland Holdings, which has been operational since 1900, is recognized as a major player in the specialized infrastructure construction sector. With a market capitalization of $160 million, the company and its subsidiaries are considered among the largest infrastructure construction entities in North America, with a portfolio that includes work on bridges, tunneling, communications, transportation, marine, steel structures, as well as water and wastewater treatment and pipeline projects. InvestingPro data reveals that the company operates with a significant debt burden, with a debt-to-equity ratio of 2.22.
The awarded projects are expected to enhance Southland’s presence in the water infrastructure market, which is a critical component of the company’s business. The firm’s expertise spans both domestic and international markets, with a history of involvement in a variety of end markets. Discover more insights about Southland Holdings and 1,400+ other companies through comprehensive Pro Research Reports available on InvestingPro, including detailed financial health analysis and expert recommendations.
The announcement of these new contracts is a forward-looking statement as defined by the U.S. Private Securities Litigation Reform Act of 1995, and it reflects only the current expectations of Southland’s management. As with any forward-looking statements, they are subject to risks, uncertainties, and changes that may occur, many of which are beyond Southland’s control. Consequently, actual outcomes and financial results could differ materially from what is expressed or forecasted in the statement. Southland has stated that it does not intend to update these forward-looking statements publicly as new information or future events arise.
This report is based on a press release statement issued by Southland Holdings, Inc.
In other recent news, Southland Holdings Inc. reported a challenging financial year with a significant decline in revenue and gross profit. The company recorded a net loss of $105 million for 2024, translating to a loss of $2.19 per share. Q4 2024 revenue was $267 million, marking a $49 million decrease compared to the previous year. Despite these setbacks, Southland Holdings is focusing on high-value infrastructure projects in Texas and Florida to stabilize its financial performance. Additionally, the company announced executive leadership changes, with Cody Gallarda stepping down as CFO and Keith Bassano being appointed to the role. Bassano, who has been with Southland since 2020, brings over 15 years of experience in the industry. In board-related news, Rudy Renda was appointed as a Class II director, filling a vacant seat and bringing the total number of directors to seven. These developments highlight Southland Holdings’ ongoing strategic adjustments and leadership changes amid financial challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.