Welcome to our dedicated page for Smith Midland news (Ticker: SMID), a resource for investors and traders seeking the latest updates and insights on Smith Midland stock.
Smith-Midland Corporation develops, manufactures, licenses, rents, sells and installs proprietary and patented precast concrete products and systems for construction, transportation and utility markets. Its updates commonly cover SlenderWall® architectural cladding, SoftSound® noise wall systems, J-J Hooks® precast barriers, utility vaults, Easi-Set and Easi-Span buildings, and barrier rental activity.
Company news also reports contract awards for highway, public-infrastructure, data-center and building projects, along with revenue trends, product sales, shipping and installation activity, backlog, and financial reporting matters tied to its annual and quarterly results.
Smith-Midland Corporation (OTCQX:SMID) announced a new partnership with M&W Precast, LLC, which has become a licensed producer of Easi-Set Buildings. M&W, operating in Eastern Pennsylvania since 1946, recently upgraded their facilities with a new batch plant and achieved NPCA certification. The partnership aims to expand M&W's offerings in precast concrete buildings, aligning with their goal of being a comprehensive supplier. Both companies express enthusiasm for the collaborative opportunity and potential market leadership.
Smith-Midland Corporation (OTCQX:SMID) announced the development of an interactive 3D model for its SlenderWall cladding system, enhancing understanding of its building performance capabilities. The model allows users to explore the integration of durable precast exteriors with interior stud walls, showcasing features like fire compliance and thermal efficiency. This comes after Easi-Set Worldwide received a utility patent for advancements in energy code compliance, solidifying its innovation in the building envelope market.
Smith-Midland Corporation (OTCQX:SMID), a leader in precast concrete products, has partnered with Three Part Advisors, LLC to enhance its investor relations strategy. This collaboration aims to increase investor awareness and improve exposure within the investment community. Three Part Advisors brings experienced Wall Street professionals to implement a strategic IR program, aligning with the company's future growth potential. Management holds about 17.5% of SMID stock, emphasizing a commitment to shareholder interests. The firm’s history reflects a strong focus on increasing liquidity and decreasing stock price volatility.
Smith-Midland Corporation (OTCQX:SMID) reported a 600 basis point improvement in Gross Margin for the second quarter of 2020, reaching 20%, despite a 4% revenue decline to $10.5 million. Net income surged by 53% to $441,000, driven by a 50% increase in Earnings Per Share (EPS), now at $0.09. The company experienced challenges due to the COVID-19 pandemic but has seen improvements in rental revenue, which is crucial for its strategic shift. As of June 30, 2020, total cash and investments stood at $5.6 million with notable project bids ahead.