Smith Midland Corp Stock Price, News & Analysis

Smith-Midland Corporation (NASDAQ:SMID) announced that President and CEO Ashley Smith has been named to the Virginia 500: The 2025 Power List by Virginia Business. Smith is among 30 leaders recognized in the manufacturing sector.

Smith-Midland, established in 1960, has grown to employ over 230 people across three states. The company specializes in precast concrete innovation and maintains a strong focus on employee retention. Ashley Smith serves as past chairman of the National Precast Concrete Association and contributes to various civic and educational organizations.

Smith-Midland (NASDAQ:SMID), a provider of innovative precast concrete products and systems, has announced its participation in the upcoming Midwest IDEAS Investor Conference. The presentation is scheduled for August 27, 2025, at 11:30 AM CT at The InterContinental in Chicago.

Management will host investor meetings during the conference. The presentation will be accessible via webcast through the conference website. Qualified investors interested in attending or scheduling meetings with management can contact the conference organizers.

Smith-Midland (NASDAQ:SMID) reported exceptional Q2 2025 financial results, with revenue surging 33% to $26.2 million and net income more than doubling to $4.2 million ($0.79 per diluted share). The company achieved a significant gross margin improvement of 360 basis points to 29.7%.

The quarter's success was driven by strong performance across multiple segments: Soundwall sales reached $5.2 million, barrier rental revenue increased to $5.8 million, and SlenderWall contributed $1.5 million. The company maintains a robust backlog of $54 million as of August 2025, with continued momentum from infrastructure initiatives and increasing demand for rental barriers.

Smith-Midland (NASDAQ:SMID) reported robust Q1 2025 financial results, with revenue surging 35% to $22.7 million and net income nearly tripling to $3.3 million ($0.62 per diluted share). The company's gross margin improved significantly by 740 basis points to 30.7%.

Service revenue, including barrier rentals, royalties, and shipping/installation, more than doubled to $13.6 million. Product sales reached $9.1 million, with notable growth in Soundwall sales (+27%) and Easi-Set building sales. The company maintains a strong balance sheet with $9.0 million in cash and a substantial backlog of $52 million as of May 2025.

Management anticipates stronger performance in Q2 2025 compared to the previous year, supported by ongoing infrastructure initiatives and upcoming SlenderWall projects.

Smith-Midland Corporation (NASDAQ:SMID) announced receiving two letters from Nasdaq regarding compliance issues. The first letter, dated May 29, 2025, confirmed the company regained compliance after filing its 2024 Annual Report (10-K) on May 27, 2025. However, a second letter indicated non-compliance with Nasdaq listing rule 5250(c)(1) due to delayed filing of Q1 2025 Quarterly Report (10-Q). The delay stems from extended financial reporting processes following the 10-K filing delays. Despite these challenges, preliminary results indicate higher revenue and significantly improved net income for Q1 2025 compared to Q1 2024. The company expects to file the delayed 10-Q soon.

Smith-Midland (NASDAQ:SMID) reported record-breaking financial results for Q4 and full-year 2024. Q4 revenue rose 13% to $18.5M, with product sales up 23% to $11M. Net income reached $1.4M ($0.26/share), up from $230K. For full-year 2024, revenue increased 32% to $78.5M, with net income of $7.7M ($1.45/share) compared to $795K in 2023. Gross margin improved by 760 basis points to 25.5%. The company saw strong performance in utility vault sales driven by data center demand, and barrier rental revenue increased to $12M from $6.3M. With a backlog of $59.5M as of March 2025, Smith-Midland expects continued growth in 2025, supported by Infrastructure Act funding and increased demand across multiple sectors.

Smith-Midland Corporation (NASDAQ:SMID) has secured a $2 million contract to manufacture SlenderWall precast concrete panels for the Naval Sea Systems Command (NAVSEA) Refueling and Complex Overhaul building in Newport News, VA. The company's SlenderWall system is an innovative architectural precast concrete cladding solution that combines multiple components into a single lightweight panel, including interior framing, insulation, and vapor barrier. The project will create a facility featuring office spaces, a fitness center, and counseling offices for sailors and shipbuilders during RCOH operations. The all-in-one system offers advantages like reduced installation time, lower costs, enhanced sustainability, and improved energy efficiency.

Smith-Midland (NASDAQ:SMID) has appointed Dominic L. Hunter as Chief Financial Officer, effective April 17, 2025. Hunter will oversee all financial functions including accounting, treasury, financial reporting, and investor relations, while contributing to the company's financial strategy and capital allocation.

Hunter brings over 20 years of financial leadership experience, including roles as Vice President at SRA International, a $1.7B publicly traded government contractor, and CFO of O'Gara-Hess & Eisenhardt Armoring Company. He is a University of Virginia McIntire School of Commerce graduate and licensed CPA. His background includes service as an intelligence analyst in the United States Army and National Guard's 29th Infantry Division.

Smith-Midland (NASDAQ:SMID) has received a Nasdaq deficiency notice on April 17, 2025, due to delayed filing of its Form 10-K for the year ended December 31, 2024. The company is currently non-compliant with Listing Rule 5250(c)(1), though this notice does not immediately affect its Nasdaq trading status.

The company has 60 calendar days to submit a compliance plan and may receive an additional 180-day extension until October 13, 2025, if Nasdaq accepts the plan. The delay stems from the need for additional time to complete financial reporting processes, including assessment of internal controls, where material weakness will be identified.

Despite the filing delay, Smith-Midland projects strong financial performance with 2024 full-year revenue expected between $77-79 million, marking a significant 31% annual increase at the midpoint. This growth is primarily attributed to increased Soundwall and utility sales, along with higher barrier rental and shipping/installation revenue.