Smith-Midland Corporation

Smith-Midland Corp. engages in developing, manufacturing, marketing, leasing, licensing, selling, and installing of precast concrete products. The firm's products include SlenderWall Lightweight Construction Panels, Sierra Wall, J-J Hooks Highway Safety Barrier, Easi-Set Precast Buildings and Easi-Span Expandable Precast Buildings, Easi-Set Utility Vault, SoftSound Soundwall Panels, Beach Prisms Erosion Control Modules and Beach Prisms Erosion Control Modules. The company was founded by Rodney I. Smith and David G. Smith in 1960 and is headquartered in Midland, VA.

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Smith-Midland Corp. engages in developing, manufacturing, marketing, leasing, licensing, selling, and installing of precast concrete products. The firm's products include SlenderWall Lightweight Construction Panels, Sierra Wall, J-J Hooks Highway Safety Barrier, Easi-Set Precast Buildings and Easi-Span Expandable Precast Buildings, Easi-Set Utility Vault, SoftSound Soundwall Panels, Beach Prisms Erosion Control Modules and Beach Prisms Erosion Control Modules. SlenderWall is lightweight, energy efficient concrete and steel exterior wall panel for use in building construction. J-J Hooks Highway Safety Barrier is a positive-connected highway safety barrier. SoftSound a proprietary sound absorptive finish used on the face of sound barriers to absorb traffic noise. Sierra Wall is a sound barrier primarily for roadside use. Easi-Set and Easi-Span are transportable concrete buildings. The company founded by Rodney I. Smith and David G. Smith in 1960 and is headquartered in Midland, VA.

Increased production and higher sales volumes across multiple product lines aid Smith-Midland's (SMID) earnings in Q2.

Smith-Midland (SMID) Earnings & Revenues Rise Y/Y in Q2

Quarterly Revenue Increased 32% to Record $19.5 Million MIDLAND, VA / ACCESSWIRE / August 14, 2024 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its second quarter results for the period ended June 30, 2024. Second Quarter 2024 Summary (compared to prior-year second quarter) Revenue increased 34 percent to $19.6 million Product sales increased 23 percent to $13.1 million Service revenue increased 63 percent to $6.5 million Operating income of $2.7 million, compared to loss of ($981,000) Net income of $2.0 million, or $0.37 per diluted share compared to net loss of ($782,000) or ($0.15) per share Awarded $7.5 million contract from Georgia Department of Transportation Added to Russell 2000 and 3000 stock indexes "Our second quarter performance included a record for quarterly revenue and our best net income since the first quarter of 2021," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland.

Smith-Midland Reports Second Quarter 2024 Financial Results

Gencor Industries

The IIJA (Infrastructure Investment and Jobs Act) is a $1.2 trillion investment over a five-year period.

3 Microcaps to Benefit from Federal Highway Spending

MIDLAND, VA / ACCESSWIRE / July 8, 2024 / Easi-Set Worldwide a subsidiary of Smith-Midland Corporation (NASDAQ:SMID), has developed a J-J Hook™ Low-Profile Portable Concrete Barrier. The Company has been issued a provisional patent from the US Patent Office, has successfully crash-tested the barrier to the MASH 16 TL2 guidelines, and obtained a Federal Highway Association (FHWA) Letter of Eligibility (B-379).

Easi-Set Worldwide Develops New J-J Hook(TM) MASH 16 Low-Profile Barrier

Discover why Zacks rates Smith-Midland (SMID) as "Neutral," being the first on Wall Street to initiate the coverage of the stock. Explore SMID's robust revenue growth and operational improvements amid significant risks, including rising material costs and dependency on a single customer.

Zacks Initiates Coverage of Smith-Midland With Neutral Recommendation

COLUMBIA, SC / ACCESSWIRE / June 12, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has been awarded a new $7.5 million precast concrete noise wall contract for a Georgia Department of Transportation (GDOT) project. Smith-Midland South Carolina will manufacture more than 4,700 precast noise wall panels, with an Ashlar stone finish on both sides, for the I-285/I-20 interchange project, which is well known for having some of the worst traffic congestion in the country.

Smith-Midland Secures $7.5 Million Noise Wall Contract for Georgia Department of Transportation Project

Highest Quarterly Revenue of $16.8 Million; Backlog of $64.6 Million MIDLAND, VA / ACCESSWIRE / June 11, 2024 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems today announced its first quarter results for the period ended March 31, 2024. First Quarter 2024 Summary (compared to prior-year quarter) Revenue increased 30 percent to $16.8 million Product sales increased 30 percent to $10.8 million Service revenue increased 31 percent to $6.0 million Operating income of $1.5 million, compared to $54,000 Net income of $1.1 million, or $0.22 and $0.21 per basic and diluted share, respectively, compared to $80,000 or $0.02 per basic and diluted share Started construction to double the size of its North Carolina plant "We are off to a strong start in 2024, posting a 30 percent increase in revenue from the prior-year quarter and our highest quarterly revenue," said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland.

Smith-Midland Reports First Quarter 2024 Financial Results

MIDLAND, VA / ACCESSWIRE / April 24, 2024 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it received a letter dated April 19, 2024, from Nasdaq, indicating that the Company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K").

Smith-Midland Announces Receipt of Nasdaq Letter

MIDLAND, VA / ACCESSWIRE / April 1, 2024 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it has filed a Form 12b-25 with the Securities and Exchange Commission to provide notice of the late filing of its Annual Report on Form 10-K ("Form 10-K") for the year ended December 31, 2023. The company expects to file its Form 10-K on or before April 16, 2024.

Smith-Midland Announces Delayed Filing of 2023 Form 10-K

MIDLAND, VA / ACCESSWIRE / March 19, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, is currently designing, manufacturing, and delivering more than $3 million in standard and custom designed utility vaults, rated for various weight requirements for multiple projects throughout Northern Virginia. Utility vaults are in high demand, and Smith-Midland's precast concrete vaults are engineered with both standard and custom designs to be used for numerous projects in their Midland, Virginia plant market, where data center growth is booming.

Smith-Midland's Utility Vault Orders Surge: Meeting Data Center Demand

Smith-Midland is a pre-cast product manufacturing company on the East Coast. Despite optimism around the Infrastructure Act, the company would need to quadruple its revenues to justify its current stock price. The company's recent revenue trends indicate inflationary accommodation of prices rather than a secular change in business.

Smith-Midland Keeps Getting Overvalued

MIDLAND, VA / ACCESSWIRE / January 11, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has commenced construction to double the size of its Reidsville, North Carolina plant. Smith-Midland North Carolina is investing almost $2 million to expand its production facility to 30,000 square feet, including the addition of a 20-ton crane.

Smith-Midland to Double the Size of North Carolina Plant

MIDLAND, VA / ACCESSWIRE / December 28, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has appointed Ms. Read Van de Water and Mr.

Smith-Midland Appoints New Members to its Board of Directors

MIDLAND, VA / ACCESSWIRE / December 12, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems has begun renting its J-J Hooks precast concrete barrier to the Virginia Department of Transportation (VDOT), as part of the I-64 Gap Widening Project in New Kent County, Virginia. The total value of the project through its Concrete Safety Systems (CSS) rental division is approximately $3.8 million.

Smith-Midland Receives $3.8M J-J Hooks Barrier Rental Contract for I-64 in Virginia

MIDLAND, VA / ACCESSWIRE / November 30, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, has begun production in their Virginia plant for $1.1 Million of precast concrete Utility Manholes for the North Norfolk International Terminal Optimization Project, in Norfolk, Virginia. The redevelopment project, consisting of over 74 acres of terminal property, will include multiple underground precast concrete utility boxes for electrical and communication uses.

Smith-Midland Producing Precast Utility Manholes for The Port of Virginia

Revenue Increased 31% to $15.7 Million; Backlog Remains Strong Over $60 Million MIDLAND, VA / ACCESSWIRE / November 9, 2023 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality, proprietary and patented precast concrete products and systems announced its third quarter results for the period ended September 30, 2023. Third Quarter 2023 Summary Revenue increased 31 percent from the prior year quarter to $15.7 million Product sales increased 54 percent from the third quarter of 2022 to $10.9 million Gross margin of 22.9%, a 550 basis point increase from the prior year quarter Net income of $1.3 million compared to $5,000 in the third quarter of 2022 Selected by Maryland Transportation Authority for $6.8 million architectural panel project for the Baltimore Harbor Tunnel Awarded $1.6 million contract for rental of J-J Hook barrier for I-64 Hampton Roads Express Lanes project "Our strong third quarter results reflect the underlying strength of our business coupled with the favorable tailwinds within the industry from increased public and private infrastructure and construction spending.

Smith-Midland Reports Third Quarter 2023 Financial Results

MIDLAND, VA / ACCESSWIRE / October 19, 2023 / Smith-Midland (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems received a contract through the Virginia DOT for $1.6 million of J-J Hooks precast concrete barrier as part of the I-64 Hampton Roads Express Lanes project, in Norfolk, Virginia. The barriers will be provided by the company's highway barrier rental division, Concrete Safety Systems (CSS).

Smith-Midland Receives $1.6 Million Order for J-J Hooks Rental Barrier for I-64 Project in Virginia

Revenue Increased 11% from Prior Year to $14.7 Million; Record Backlog of $60.9 Million Announces Preliminary Third Quarter Year-over-Year Revenue Growth in Excess of 20% MIDLAND, VA / ACCESSWIRE / October 11, 2023 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems announced its second quarter results for the period ended June 30, 2023. Second Quarter 2023 Summary Compared to Second Quarter 2022 Revenue increased 11 percent from the prior year quarter to $14.7 million Product sales increased 58 percent from the prior year quarter to $10.7 million Net loss of $782,000, or loss per share of $0.15, primarily related to a pair of items isolated to the quarter Selected to produce SlenderWall architectural precast panels for $4.5 million hospital project Awarded $2.1 million contract for architectural panels for BMW's campus in South Carolina The Company's second quarter 10-Q filing was delayed due to the transition to a new independent registered accounting firm.

Smith-Midland Reports Second Quarter 2023 Financial Results

MIDLAND, VA / ACCESSWIRE / October 6, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will begin production on a $6.8M architectural precast panel project for the Baltimore Harbor Tunnel for Maryland Transportation Authority (MDTA). The existing vent buildings, built in 1957, will have their existing cladding removed and then re-clad with Smith-Midland's architectural precast concrete panels, designed with thin-brick cast into the face of the panels.

Architectural Precast Giving Baltimore Harbor Tunnel Vent Buildings New Life

MIDLAND, VA / ACCESSWIRE / August 23, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it received a letter dated August 17, 2023, from Nasdaq, indicating that the Company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (the "Form 10-Q").

Smith-Midland Announces Receipt of Nasdaq Letter and Engagement of New Audit Firm

MIDLAND, VA / ACCESSWIRE / August 14, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it will file a Form 12b-25 with the Securities and Exchange Commission to provide notice of the late filing of its Annual Report on Form 10-Q ("Form 10-Q") for the period ended June 30, 2023. The extension is related to the Company's transition to its new independent registered public accounting firm as detailed in the forthcoming filing of the Form 12b-25.

Smith-Midland Announces Delayed Filing of Form 10-Q

MIDLAND, VA / ACCESSWIRE / June 20, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced management will participate in the virtual East Coast IDEAS Investor Conference on June 22, 2023. Smith-Midland's presentation is scheduled to be available at 6:00 am ET on June 21, 2023 and will be accessible via the conference website www.IDEASconferences.com.

Smith-Midland to Host and Present at the 13th Annual East Coast IDEAS Investor Conference

MIDLAND, VA / ACCESSWIRE / June 15, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will begin production of architectural precast concrete building panels at their South Carolina plant, for the BMW Hall 52 Expansion project in Greer, South Carolina The over $2.1 million contract for Smith-Midland will produce and install custom precast panels, adding ten new additions around the existing building which will be used for the manufacture of electric BMW vehicles. Production of the panels will begin later this year with installation expected to be complete mid-2024.

Smith-Midland-South Carolina Producing Architectural Precast for BMW Plant

Revenue Increased 23% to $12.8 Million; Backlog of $51.4 Million MIDLAND, VA / ACCESSWIRE / May 15, 2023 / Smith-Midland Corporation (NASDAQ:SMID) a provider of innovative, high-quality proprietary and patented precast concrete products and systems announces their first quarter results for the period ended March 31, 2023. First Quarter 2023 Highlights Compared to First Quarter 2022 Revenue increased 23 percent to $12.8 million from $10.4 million Product sales increased 41 percent to $8.2 million from $5.9 million Service revenue unchanged at $4.6 million Operating income of $54,000, a $227,000 improvement Net income of $80,000, or $0.02 per diluted share Awarded contracts for $6 million to manufacture and install Architectural panels and columns Awarded $5 Million in SoftSound® Noise Wall contracts for Northern Virginia Extension project "Our first quarter 2023 results experienced continued momentum from 2022.

Smith-Midland Reports First Quarter 2023 Financial Results

MIDLAND, VA / ACCESSWIRE / May 2, 2023 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will begin production on a $4.5 million project containing more than four hundred SlenderWall® Architectural precast panels for the new care tower on the Atrium Health Wake Forest Baptist Hospital campus in Wake Forest, North Carolina. The panels will have a white acid-etch finish with Vertical Reveals.

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