Southland Holdings, Inc. income statement
In fiscal 2025, Southland Holdings, Inc. reported revenue of $772m, down 21.2% on the year before, operating income of −$217m (a -28.1% margin) and net income of −$307m, or −$5.67 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 1,279 | 1,161 | 1,160 | 980 | 772 | 603 |
| Cost of revenue | 1,165 | 1,020 | 1,125 | 1,043 | 927 | 869 |
| Gross profit | 114 | 141 | 36 | −63 | −155 | −266 |
| Selling, general and administrative | 58 | 58 | 67 | 63 | 62 | 63 |
| Operating income | 56 | 83 | −31 | −126 | −217 | −329 |
| Interest expense | 7 | 9 | 19 | 30 | 37 | 34 |
| Income before tax | — | 3 | — | — | — | — |
| Income tax | 11 | 13 | −9 | −47 | 56 | 55 |
| Net income | 39 | 61 | −19 | −105 | −307 | −404 |
| Diluted EPS | — | — | −$0.41 | −$2.19 | −$5.67 | −$7.47 |
| Diluted shares (average) | — | — | 47m | 48m | 54m | 54m |
| EBITDA | 104 | 128 | −1 | −103 | −194 | −307 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 173 | 267 | 239 | 215 | 213 | 104 | 172 | 113 |
| Cost of revenue | 224 | 260 | 218 | 202 | 210 | 297 | 177 | 185 |
| Gross profit | −51 | 8 | 21 | 13 | 3 | −193 | −5 | −71 |
| Selling, general and administrative | 17 | 16 | 16 | 14 | 15 | 17 | 15 | 17 |
| Operating income | −69 | −8 | 5 | −1 | −11 | −210 | −20 | −88 |
| Interest expense | 8 | 10 | 9 | 10 | 9 | 9 | 9 | 7 |
| Income tax | −17 | −14 | −0 | −0 | 57 | −0 | 0 | −2 |
| Net income | −55 | −4 | −5 | −10 | −75 | −216 | −28 | −84 |
| Diluted EPS | −$1.14 | −$0.08 | −$0.08 | −$0.19 | −$1.39 | −$4.00 | −$0.52 | −$1.55 |
| EBITDA | −63 | −2 | 12 | 5 | −6 | −205 | −14 | −83 |
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