Southland Reports Preliminary Q2 Revenue Of $257M, Est. $325.26M
Portfolio Pulse from Benzinga Newsdesk
Southland has reported preliminary Q2 revenue of $257M, which is significantly lower than the estimated $325.26M. The company's CEO, Frank Renda, expressed disappointment in the Q2 performance, attributing the poor results to challenges in the legacy materials production and paving business. Southland plans to discontinue large-scale materials production to focus on its core business.
August 10, 2023 | 9:30 pm
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Southland's lower than expected Q2 revenue could negatively impact its stock price in the short term. The company's decision to discontinue large-scale materials production may be seen as a strategic move to improve future performance.
Southland's Q2 revenue fell significantly short of estimates, which could lead to a decrease in investor confidence and a potential drop in the stock price. However, the company's decision to discontinue large-scale materials production could be seen as a strategic move to streamline operations and focus on core business, which may have a positive impact in the long term.
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IMPORTANCE 80
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