Smith-Midland Announces Delayed Filing of 2025 Form 10-K
Rhea-AI Summary
Smith-Midland (NASDAQ:SMID) filed a Form 12b-25 on March 31, 2026, notifying the SEC of a late 2025 Form 10-K and expects to file on or before April 15, 2026. The company said additional time is needed to complete the financial close and management's internal control assessment.
Smith-Midland reiterated expected Q4 2025 revenue of $22–$24 million (prior-year $18.5 million) and full-year 2025 revenue of $92–$94 million (about 18% growth at midpoint), and anticipates record annual net income subject to final adjustments.
Positive
- Fourth-quarter 2025 revenue guidance of $22–$24M versus $18.5M prior-year
- Full-year 2025 revenue guidance of $92–$94M (~18% growth at midpoint)
- Company anticipates record annual net income for 2025, pending final adjustments
Negative
- Filed Form 12b-25 for late 2025 Form 10-K, delaying audited results beyond statutory deadline
- Management cited ongoing assessment of internal control over financial reporting and potential material weakness
News Market Reaction – SMID
In the Apr 1 session, SMID declined 10.94%, reflecting a significant negative market reaction. Argus tracked a trough of -6.6% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIDLAND, VA / ACCESS Newswire / March 31, 2026 / 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, 2025. The company expects to file its Form 10-K on or before April 15, 2026.
The Company requires additional time to complete its financial reporting close process, including management's assessment of the Company's internal control over financial reporting, as to which material weakness existence will be made, and to gather information required to complete auditing procedures.
As previously announced in its March 23, 2026 press release, the company expects fourth quarter 2025 revenues to be approximately
About Smith-Midland
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.
Smith-Midland Corporation has three manufacturing facilities in Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.
Forward-Looking Statements
This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from those discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, the uncertainties arising from the policies of the United States Government, the risk of less government spending on infrastructure than anticipated, inflationary factors including potential recession, our material weaknesses in internal controls, cyber security risks, general business and economic conditions, our debt exposure, our high level of accounts receivables, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
Additionally, the financial measures presented herein are a preliminary estimate, remain subject to our internal controls and procedures, and are subject to risks and unce1tainties. Any variation between the Company's actual financial results and the preliminary ranges set forth herein may be material.
Investor Relations:
Steven Hooser
Three Part Advisors, LLC
(214) 872-2710
SOURCE: Smith-Midland
View the original press release on ACCESS Newswire