Southland Holdings signed a financial help agreement and reported $233.8 million in sales and $33.7 million in profit.

SLND · Southland Holdings, Inc.

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The operating figures show real improvement, and the larger backlog points to more work available. Yet a large insurance settlement drove much of the increase in other income, so the reported profit does not all come from construction work. The filing also extends the deadline for issuing preferred shares tied to surety financing. That financing obligation sits alongside stronger operations, so the report sends mixed signals about Southland’s outlook.