Southland Wins $132 Mln Contract To Build Water Treatment Plant; Stock Climbs In Pre-market

(RTTNews) - Shares of Southland Holdings, Inc. (SLND) were gaining around 9 percent in the pre-market activity on the NYSE after the provider of specialized infrastructure construction services Wednesday announced a contract worth $132 million to construct a new water treatment plant for the Bureau of Reclamation.

Southland said a subsidiary in its Civil segment, Oscar Renda Contracting, has been awarded the contract.

The scope of work in the deal includes constructing a new water treatment plant building, a storage facility, site improvements and demolition of the existing storage building and water treatment plant.

Southland said the award will be included in third quarter 2024 backlog.

In the pre-market activity on the NYSE, Southland shares were trading at $4.05, up 8.87 percent.