The following is a summary of the Southland Holdings Inc. (SLND) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue decreased slightly to $252 million from $257 million the previous year.

• The company reported a gross loss of $40 million, which is a decrease from a gross loss of $34 million in the same period last year.

• Net loss reported at $46 million or negative $0.96 per share, compared to a net loss of $13 million or negative $0.27 per share in the same period last year.

Business Progress:

• Achieved new awards of $375 million in a strong bidding environment.

• Closed a $42.5 million real estate transaction resulting in $16 million debt reduction and approximately $25 million cash for corporate purposes.

• Backlog increased to $2.74 billion, up from $2.64 billion last quarter, with significant contracts in progress including the $220 million North End Treatment Plant phase 2.

• Executed a term sheet to refinance approximately $110 million of existing debt.

Opportunities:

• Strong market demand and governmental support, such as updated EPA's Clean Water Infrastructure Needs survey indicating a need of $630 billion over 20 years for water infrastructure, presenting significant opportunities for specialty infrastructure projects.

Risks:

• Challenges in the legacy portfolio and the impact of settling legacy disputes negatively influenced the income statement.

More details: Southland Holdings IR

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