Southland Holdings, Inc. (NYSE:SLND) Q2 2023 Earnings Conference Call August 15, 2023 10:00 AM ET

Company Participants

Alex Murray - Corporate Development & Investor Relations

Frank Renda - President and Chief Executive Officer

Cody Gallarda - EVP, Chief Financial Officer

Conference Call Participants

Adam Thalhimer - Thompson, Davis & Company

Christian Schwab - Craig-Hallum Capital Group

Brent Thielman - D.A. Davidson & Co.

Julio Romero - Sidoti & Company

Operator

Good day, ladies and gentlemen, and welcome to the Southland Holdings, Inc. Second Quarter 2023 Earnings Conference Call. [Operator Instructions] This call is being recorded on Tuesday, August 15, 2023.

I would now like to turn the conference over to Alex Murray. Please go ahead.

Alex Murray

Good morning, everyone. This is Alex Murray, Director of Corporate Development and Investor Relations. Welcome to the Southland Second Quarter 2023 Conference Call. Joining me today are Frank Renda, President and Chief Executive Officer; and Cody Gallarda, Executive Vice President and Chief Financial Officer.

I'd like to begin with a gentle reminder. This conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking statements are uncertain and outside of Southland's control. Southland's actual results and financial condition may differ materially from those projected in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, and we do not undertake any duty to update these statements.

For a discussion of some of the risks that could affect results, please see the Risk Factors section of our Form 10-Q we filed last night and our Form 10-K for the year ended December 31, 2022, and filed with the SEC on March 21, 2023. We also refer to non-GAAP financial measures, and you will find reconciliations in the earnings release related to this conference call, which may be found on the Investor Relations page of our website.

With that, I'll now turn the call over to Frank.

Frank Renda

Thank you, Alex. Good morning, and thank you for joining Southland's Second Quarter 2023 Conference Call. We had a disappointing second quarter with revenue of $257 million, a decrease of $16 million compared to last year. We reported a gross loss of $34 million in the quarter, which compares to a gross profit of $38 million in the same period last year.