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Southland Holdings, Inc. (NYSE American:SLND), a $202 million market cap company specializing in heavy construction, reported changes to its Board of Directors in a recent SEC filing. The company, which generated revenues of $931 million in the last twelve months, has shown strong momentum with a 23% return over the past six months, though InvestingPro analysis indicates the stock is currently overbought. On May 15, 2025, Kyle Burtnett resigned from his position as a Director of the company to pursue other opportunities. His departure was not due to any disagreement with the company’s management or the Board.
Following this departure, on Monday, the Board appointed Tan Parker as a Class I director to fill the vacancy left by Mr. Burtnett. Mr. Parker’s appointment, effective May 19, 2025, brings the number of directors back to seven. Parker’s recommendation came from the company’s Nominating and Corporate Governance Committee, and he will be participating in the company’s non-employee director compensation programs as outlined in Southland’s definitive proxy statement filed on April 25, 2025. The appointment comes at a crucial time as the company faces profitability challenges, with InvestingPro data showing negative earnings in the last twelve months.
Tan Parker brings a wealth of experience from both public service and the private sector. His background includes almost two decades of legislative service in Texas, where he has chaired the Senate Republican Caucus and the House Financial Services Committee. Parker has been involved in legislative initiatives related to AI, cybersecurity, homeland security, and capital markets, including efforts to develop the Texas Stock Exchange. In the private sector, he has experience in private equity and venture capital, having founded Applied Business Strategies, co-founded MagnaSci Biotechnology Funds and Septum Solutions, and chaired the Texas Industrial Development Corporation’s infrastructure investment fund. Parker began his career with Morgan Stanley (NYSE:MS) Dean Witter and has held executive roles at Computer Sciences Corporation (NYSE:DXC). He is also a board member of the University of Dallas. Parker holds a B.A. from the University of Dallas and an M.Sc. from the London School of Economics. His appointment comes as Southland faces financial challenges, with InvestingPro showing a weak overall Financial Health Score. For deeper insights into Southland’s financial position and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, covering this and 1,400+ other US equities.
The information about the board changes was based on a press release statement filed with the SEC.
In other recent news, Southland Holdings reported a mixed financial performance for the first quarter of 2025. The company’s revenue decreased by $49 million compared to the previous year, totaling $239 million for the quarter. Despite this decline, Southland Holdings experienced an improvement in gross profit, which increased to $21.5 million, reflecting a higher gross profit margin of 9%, up from 7.1% in Q1 2024. The company also faced a net loss of $4.5 million, or $0.08 per share. Leadership changes were announced with the appointments of a new Chief Financial Officer and Chief Strategy Officer, which are part of Southland’s strategic efforts for long-term growth. The company maintains a robust backlog of $2.5 billion, expecting to execute approximately 40% over the next 12 months. Upcoming projects include significant infrastructure developments such as the Black Creek Tunnel and the Jordan Lake water supply program. Despite ongoing challenges, Southland Holdings remains optimistic about future opportunities in the infrastructure sector.
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