Filing Flows › Southland Holdings (SLND) › Q1 2026
Southland Holdings (SLND) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Southland Holdings (SLND) reported revenue of $172M for the first quarter 2026 (Q1 2026), -28% from a year earlier and +66% from the quarter before. Operating margin was -11.4%, net loss $28.2M (16.3% of revenue).
Southland Holdings, Q1 2026: revenue $172M (-28% year over year), operating margin -11.4%, net loss $28.2M, operating cash flow −$134M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | +66% | -28% |
| Operating profit | −$19.7M | — | -493% |
| Net earnings | −$28.2M | — | — |
| Operating cash flow | −$134M | -1482% | -2182% |
What changed
Revenue was $172.4M in Q1 2026, down 28% year over year and up 66% from the previous quarter. Civil was the largest line at 60% of revenue. Transportation lost $68.0M year over year (down 50%), 101% of the total change.
Operating costs exceeded revenue by $19.7M, an operating margin of -11.4%. The quarter ended with a net loss of $28.2M, narrower than the previous quarter's $218.7M loss.
Operating cash flow was −$133.9M. Non-cash charges added back $5.6M of depreciation and amortization. Working capital and other items used $111.3M. Capital expenditures of $28K exceeded it, leaving free cash flow of −$133.9M.
Questions
What was Southland Holdings' revenue in the first quarter 2026?
Southland Holdings (SLND) reported revenue of $172M for the first quarter 2026 (Q1 2026), -28% from a year earlier and +66% from the quarter before.
Was Southland Holdings profitable in the first quarter 2026?
Operating loss was $19.7M (-11.4% of revenue) and net loss $28.2M.
Source: Southland Holdings 10-Q on SEC EDGAR.