The company manages exposure to labor and material price increases by incorporating protections in contracts and bidding with assumptions of wage and raw material cost increases. It often obtains fixed-price quotes from major subcontractors and material suppliers early in project schedules and includes contingencies for inflation. Construction supplies and materials are sourced from multiple suppliers to reduce reliance on any single vendor, despite ongoing supply-chain disruptions, particularly for oil, gas, fuel, and construction materials. The company mitigates cost impacts by passing costs to customers when possible and entering into fixed-cost contracts with suppliers and subcontractors. It seeks fixed-price bids from subcontractors and suppliers to control costs. The construction industry continues to face supply chain challenges due to COVID-19, geopolitical conflicts, and regulatory changes, with labor costs rising due to inflation and worker shortages. Hiring and retaining skilled workers remains a priority to prevent labor shortages.
Southland Holdings Inc's Comment on Supply Chain
The company manages exposure to labor and material price increases by incorporating protections in contracts and bidding with assumptions of wage and raw material cost increases. It often obtains fixed-price quotes from major subcontractors and material suppliers early in project schedules and includes contingencies for inflation. Construction supplies and materials are sourced from multiple suppliers to reduce reliance on any single vendor, despite ongoing supply-chain disruptions, particularly for oil, gas, fuel, and construction materials. The company mitigates cost impacts by passing costs to customers when possible and entering into fixed-cost contracts with suppliers and subcontractors. It seeks fixed-price bids from subcontractors and suppliers to control costs. The construction industry continues to face supply chain challenges due to COVID-19, geopolitical conflicts, and regulatory changes, with labor costs rising due to inflation and worker shortages. Hiring and retaining skilled workers remains a priority to prevent labor shortages.
Sources:
Southland Holdings Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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