Smith-Midland Announces Multiple Contracts Valued at $8.9 Million
Smith-Midland Corporation (NASDAQ:SMID) has secured over $8.9 million in recent contracts, highlighting the growing demand for its precast concrete products amidst increased commercial construction and infrastructure spending.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Smith-Midland Corporation (NASDAQ:SMID) has secured over $8.9 million in recent contracts, highlighting the growing demand for its precast concrete products amidst increased commercial construction and infrastructure spending. Notable contracts include a $3.4 million order for Soundwall panels for I-20 reconstruction in South Carolina, and several projects at military and transportation facilities across the U.S. CEO Ashley Smith emphasizes the versatility of their offerings as they anticipate more projects in the future.
Positive
- Secured over $8.9 million in recent contracts.
- Included a $3.4 million order for Soundwall panels.
- Engaged in significant projects for I-20 reconstruction, Military, and Regional Transportation Center.
Negative
- None.
Details
News Market Reaction – SMID
The recorded move for SMID in the trading session of this news was +15.77%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIDLAND, VA / ACCESSWIRE / July 28, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today it has secured more than
With the custom retaining wall contract for the HRBT project, Smith-Midland will have provided three separate precast concrete products for the largest highway construction project in Virginia. "These recent contracts reflect the broad array and versatility of our precast concrete products and design capabilities," said Ashley Smith, President and Chief Executive Officer of Smith-Midland Corporation. "There is growing demand for our offerings through increased commercial construction and infrastructure spending, and we look forward to announcing additional projects over the coming months."
About Smith-Midland
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation, and utilities industries. Management and the board own approximately five percent of SMID stock, aligning with shareholder values.
Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and Concrete Safety Systems, our J-J Hooks Safety Barrier rental division. 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.
Media Inquiries:
scrandall@midlandadvertising.com
(540) 439-8056
Sales Inquiries:
info@smithmidland.com
(540) 439-3266
Investor Relations:
Steven Hooser
Three Part Advisors, LLC
(214) 872-2710
SOURCE: Smith-Midland Corporation
View source version on accesswire.com:
https://www.accesswire.com/710145/Smith-Midland-Announces-Multiple-Contracts-Valued-at-89-Million