Smith-Midland sees 18% 2025 revenue growth

Smith-Midland Corporation expects strong preliminary results for 2025, with full-year revenue projected between $92 and $94 million, about a 18% increase from 2024 at the midpoint.

Accepted by SEC EDGAR 03/23/2026 - 07:04 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Smith-Midland Corporation expects strong preliminary results for 2025, with full-year revenue projected between $92 and $94 million, about a 18% increase from 2024 at the midpoint. The company also anticipates record annual net income, subject to final adjustments.

For the fourth quarter of 2025, revenue is expected to be $22–$24 million, up from $18.5 million a year earlier, driven mainly by higher product sales plus shipping and installation revenue. Management attributes performance to infrastructure demand and its growth strategy, including expanding the rental barrier fleet.

Insights

Equity Analyst

Preliminary 2025 results point to double-digit growth and record profitability.

Smith-Midland projects 2025 revenue of $92–$94 million, an about 18% increase from 2024 at the midpoint, and expects record full-year net income. Fourth quarter revenue is estimated at $22–$24 million versus $18.5 million last year, reflecting strong demand.

Management links this performance to federal and state infrastructure spending and execution of its strategy, including expanding the J-J Hooks safety barrier rental fleet and product sales initiatives. These comments indicate growth coming from both end-market demand and company-driven actions.

The figures are preliminary, unaudited, and subject to final adjustments, so actual results may differ. Investors will get more detail when the Form 10-K for the year ended December 31, 2025 is filed, which the company plans to do by March 31, 2026.

FAQ

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What 2025 revenue is Smith-Midland (SMID) expecting?

Smith-Midland expects 2025 revenue between $92 million and $94 million. At the midpoint, this implies about an 18% increase from 2024, reflecting strong demand for its precast concrete products and related services across infrastructure and construction markets.

How did Smith-Midland’s Q4 2025 revenue compare to last year?

For Q4 2025, Smith-Midland projects revenue of $22–$24 million, up from $18.5 million in Q4 2024. The company attributes this growth mainly to higher product sales, plus increased shipping and installation revenue during the quarter.

Is Smith-Midland (SMID) expecting record results for 2025?

Yes, Smith-Midland anticipates record full-year 2025 revenue and net income. Management noted that 2025 should deliver new highs for both sales and profitability, following record results in the prior year, pending final audit adjustments and completion of reporting processes.

What are the key growth drivers for Smith-Midland in 2025?

Management cites continued infrastructure demand from federal and state spending and disciplined execution of its growth strategy. This includes strategic expansion of its rental barrier fleet and targeted product sales initiatives aimed at strengthening Smith-Midland’s position in transportation and construction markets.

Are Smith-Midland’s 2025 figures final or preliminary?

The 2025 figures are preliminary and unaudited. Smith-Midland states that results remain subject to internal controls, procedures, and final adjustments, and that actual reported amounts in the planned Form 10-K filing could differ, potentially in a material way.

When will Smith-Midland file its full 2025 results with the SEC?

Smith-Midland intends to file its Form 10-K for the year ended December 31, 2025 no later than March 31, 2026. That filing will contain the company’s final audited financial statements and more detailed discussion of its operating performance.

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EXHIBIT 99.1

Smith-Midland Announces Preliminary Fourth Quarter and Full Year 2025 Results

Fourth Quarter Revenue Expected to Increase 25%; Anticipates Record Full-Year Revenue and Net Income

MIDLAND, VA – March 23, 2026 – Smith-Midland Corporation (NASDAQ: SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced preliminary, unaudited results for its fourth quarter and full year 2025 ended December 31, 2025.

For the fourth quarter of 2025, the Company expects revenues of approximately $22 to $24 million, compared to $18.5 million in the prior-year comparable quarter, primarily due to higher product sales and shipping and installation revenue. The Company also anticipates net income to be higher versus the fourth quarter of 2024. For the full year 2025, the Company expects revenue to be between $92 to $94 million, which would represent an 18% annual increase from 2024 at the midpoint, and anticipates record annual net income, subject to final adjustments.

“2025 has been another banner year for Smith-Midland, as we expect to report new record top and bottom-line results after setting new highs last year,” said Ashley Smith, Chairman and Chief Executive Officer of Smith-Midland. “Our results reflect continued demand supported by federal and state infrastructure spending as well as disciplined execution of our growth strategy, including strategic expansion of our rental barrier fleet and product sales initiatives, to further strengthen our market position.”

The information contained in this press release is preliminary. The Company intends to file its final results for the fourth quarter and full year 2025 in its Form 10-K with the Securities and Exchange Commission no later than March 31, 2026.

About Smith-Midland Corporation

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 uncertainties. Any variation between the Company’s actual financial results and the preliminary ranges set forth herein may be material.

Investor Relations:

Steven Hooser or John Beisler

Three Part Advisors, LLC

(214) 872-2710

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 PRESS RELEASE 7.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.9 KB
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• EX-101 XBRL TAXONOMY EXTENSION CALCULATION LINKBASE 898 B
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 9.1 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 2.0 KB