$SLND
Southland Holdings, Inc.

2024 Q4 Form 10-Q Financial Statement

#000155837024015346 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $173.3M
YoY Change -44.53%
Cost Of Revenue $224.4M
YoY Change -20.68%
Gross Profit -$51.11M
YoY Change -273.07%
Gross Profit Margin -29.49%
Selling, General & Admin $17.49M
YoY Change 14.72%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $17.49M
YoY Change 14.72%
Operating Profit -$68.60M
YoY Change -580.3%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $841.0K
YoY Change -60.9%
Pretax Income -$75.27M
YoY Change -839.33%
Income Tax -$17.14M
% Of Pretax Income
Net Earnings -$54.73M
YoY Change -1540.18%
Net Earnings / Revenue -31.58%
Basic Earnings Per Share -$1.14
Diluted Earnings Per Share -$1.14
COMMON SHARES
Basic Shares Outstanding 48.11M 48.11M
Diluted Shares Outstanding 48.11M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $91.38M
Short-Term Investments
Other Short-Term Assets $19.22M
YoY Change -15.07%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $883.9M
YoY Change -2.75%
LONG-TERM ASSETS
Property, Plant & Equipment $114.0M
YoY Change 13.4%
Goodwill $1.528M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.701M
YoY Change -46.36%
Total Long-Term Assets $302.9M
YoY Change 11.74%
TOTAL ASSETS
Total Short-Term Assets $883.9M
Total Long-Term Assets $302.9M
Total Assets $1.187B
YoY Change 0.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $164.9M
YoY Change 20.06%
Accrued Expenses $101.9M
YoY Change -18.6%
Deferred Revenue $243.5M
YoY Change 31.89%
Short-Term Debt
YoY Change
Long-Term Debt Due $43.07M
YoY Change -9.94%
Total Short-Term Liabilities $598.2M
YoY Change 9.16%
LONG-TERM LIABILITIES
Long-Term Debt $275.2M
YoY Change 5.36%
Other Long-Term Liabilities $47.75M
YoY Change -50.44%
Total Long-Term Liabilities $430.6M
YoY Change 17.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $598.2M
Total Long-Term Liabilities $430.6M
Total Liabilities $1.029B
YoY Change 12.58%
SHAREHOLDERS EQUITY
Retained Earnings -$120.5M
YoY Change 779.93%
Common Stock $5.000K
YoY Change -37.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $149.1M
YoY Change
Total Liabilities & Shareholders Equity $1.187B
YoY Change 0.58%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$54.73M
YoY Change -1540.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2024Q3 us-gaap Profit Loss
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CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Stock Repurchased During Period Value
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CY2023Q1 us-gaap Stock Issued During Period Value Acquisitions
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CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2023Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q2 us-gaap Profit Loss
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q3 us-gaap Profit Loss
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation And Amortization
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Employee Benefits And Share Based Compensation Noncash
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us-gaap Employee Benefits And Share Based Compensation Noncash
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us-gaap Gains Losses On Sales Of Assets
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us-gaap Gains Losses On Sales Of Assets
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Income Loss From Equity Method Investments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Increase Decrease In Contract With Customer Asset
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us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Payments To Acquire Interest In Joint Venture
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us-gaap Payments To Acquire Interest In Joint Venture
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Proceeds From Notes Payable
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Notes Payable
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Debt Extinguishment Costs
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us-gaap Finance Lease Principal Payments
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us-gaap Finance Lease Principal Payments
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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slnd Cash Paid For Interest
CashPaidForInterest
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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slnd Related Party Payable Incurred But Not Yet Paid
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slnd Issuance Of Post Merger Earn Out Shares
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slnd Dividends Financed With Notes Payable
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management periodically evaluates estimates used in the preparation of the consolidated financial statements for continued reasonableness. It is reasonably possible that changes may occur in the near term that would affect our estimates with respect to revenue recognition, the allowance for credit losses, recoverability of unapproved contract modifications, deferred tax assets, and other accounts for which estimates are required.</p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Restricted Cash
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CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q3 us-gaap Restricted Cash
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CY2023Q4 us-gaap Restricted Cash
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Number Of Reporting Units
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CY2024Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2024Q3 slnd Number Of Real Estate Properties Sold
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CY2024Q3 slnd Proceeds From Financing Obligations
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CY2024Q3 slnd Financing Obligations Noncurrent
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CY2023Q1 slnd Stock Issued During Period Shares Exchange For Membership Interest
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Business Combination Acquisition Related Costs
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CY2023 us-gaap Business Combination Acquisition Related Costs
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CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
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CY2023Q4 slnd Business Combination Threshold Contingent Consideration Shares
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CY2023Q4 us-gaap Unapproved Change Orders Amount
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CY2023Q3 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Gross Profit
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us-gaap Gross Profit
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CY2024Q3 slnd Percentage Of Revenues From Outside United States
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slnd Percentage Of Revenues From Outside United States
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slnd Percentage Of Revenues From Outside United States
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CY2024Q3 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Deferred Finance Costs Net
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CY2024Q3 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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slnd Number Of Subsidiaries Historically Taxed As C Corporation
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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slnd Income Tax Expense Benefit For Entities Previously Not Subject To Income Tax
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CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
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slnd Unearned Revenue Calculation Percentage Of Consolidated Joint Venture Contracts Included
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1
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation Percentage
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CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2023Q4 slnd Costs In Excess Of Billings
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CY2024Q3 slnd Costs To Full Contracts Net
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CY2023Q4 slnd Costs To Full Contracts Net
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CY2023Q4 slnd Contract Assets
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CY2024Q3 slnd Costs Incurred On Uncompleted Contracts
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CY2023Q4 slnd Costs Incurred On Uncompleted Contracts
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CY2024Q3 slnd Estimated Earnings
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CY2023Q4 slnd Estimated Earnings
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CY2024Q3 slnd Costs Incurred And Estimated Earnings
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CY2023Q4 slnd Costs Incurred And Estimated Earnings
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CY2023Q4 slnd Less Billings To Date
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CY2024Q3 slnd Costs To Fulfill Contracts Net
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CY2023Q4 slnd Costs To Fulfill Contracts Net
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CY2023Q4 slnd Net Contract Position
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CY2023Q4 slnd Contract Liabilities Value
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CY2024Q3 slnd Net Contract Positions
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CY2023Q4 slnd Net Contract Positions
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CY2024Q3 slnd Claims
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CY2023Q4 slnd Claims
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CY2024Q3 slnd Costs In Excess Of Billings Amount
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CY2023Q4 slnd Costs In Excess Of Billings Amount
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CY2024Q3 slnd Investments Equity Method
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CY2023Q4 slnd Investments Equity Method
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CY2024Q3 slnd Claims Asset Total
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CY2023Q4 slnd Claims Asset Total
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CY2024Q1 slnd Contract Liabilities Value
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CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2023Q1 slnd Contract Liabilities Value
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CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2024Q3 us-gaap Profit Loss
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CY2023Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2024Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2314000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-54727000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-54727000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3800000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3800000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-101210000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-101210000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13690000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13690000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48105512
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47856114
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48020822
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46771938
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
15928
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48105512
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47872042
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48020822
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46771938
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.14
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.14
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14385500
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14385500
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001558370-24-015346-index.html Edgar Link pending
0001558370-24-015346.txt Edgar Link pending
0001558370-24-015346-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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slnd-20240930.xsd Edgar Link pending
slnd-20240930x10q.htm Edgar Link pending
slnd-20240930x10q001.jpg Edgar Link pending
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slnd-20240930_def.xml Edgar Link unprocessable
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slnd-20240930_pre.xml Edgar Link unprocessable
slnd-20240930x10q_htm.xml Edgar Link completed