Southland Holdings Inc (SLND) News & EventsSLNDNews & EventsSouthland Holdings Inc

Southland Enters Financing Agreement and Credit Amendment

Southland announced that the Company entered into a financing agreement and credit amendment with certain surety partners. Frank Renda, Southland's President & Chief Executive Officer, said, "Entering into the Financial Assistance Agreement and Second Amendment to the Credit Agreement marks a significant milestone in the strategic plan we outlined earlier this year and provides us with greater flexibility to execute that plan. We are grateful for the continued partnership with the sureties and look forward to executing on our backlog under the support of these agreements."

Southland Q2 Revenue $113.3M, Below Estimates

Reports Q2 revenue $113.3M, two estimates $175.5M. "Our results this quarter were largely impacted by unfavorable non-cash adjustments related to legacy disputes," said Frank Renda, Southland's President & Chief Executive Officer. "Despite that impact, we continue to work toward finalizing a comprehensive financing agreement and credit amendment with our surety partners, and we're encouraged by their continued support and the confidence they've shown in our strategic plan. At the same time, we remain focused on capturing new opportunities in our core markets - most recently reflected in the Winnipeg North End Sewage Treatment Plant award we announced in July, which reinforces the strength of our core business as we work through this transition."

Southland Holdings Secures C$815M Contract in Winnipeg

Southland Holdings (SLND) announced that Red River Biosolids Partners, a joint venture comprised of Aecon (AEGXF), MWH Constructors, and Oscar Renda Contracting of Canada, a Southland subsidiary, in which each partner holds a 33.3% interest, has completed the collaborative development phase and has been awarded an approximately C$815M contract by the City of Winnipeg for the North End Water Pollution Control Centre Sewage Treatment Plant Upgrade - Biosolids Facilities progressive design-build project in Manitoba. Stantec is providing design services. Southland's share of the contract value, approximately C$272M, will be added to its Civil segment backlog in the third quarter of 2026. During the development phase, Red River Biosolids Partners advanced design and cost elements of the project. The construction phase will now begin to deliver new biosolids facilities and modifications to the existing facilities. Upgraded facilities operations are expected to commence in the fourth quarter of 2030, with final construction completion anticipated in the second quarter of 2031.