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 (SMID) delivers innovative precast concrete solutions for critical infrastructure projects across transportation, utilities, and construction sectors. This news hub provides investors and industry professionals with essential updates on product developments, strategic partnerships, and operational milestones.
Access official press releases detailing SMID's patented safety barrier systems, Easi-Set product line expansions, and major project installations. Our curated collection features earnings reports, licensing agreements, and manufacturing innovations that demonstrate the company's leadership in durable infrastructure solutions.
Key updates include advancements in precast concrete technology, regulatory compliance achievements, and partnerships with government agencies. Bookmark this page for real-time insights into SMID's contributions to modern infrastructure development and its network of strategic manufacturing facilities.
Smith-Midland Corporation (NASDAQ:SMID) announced a patent grant for its innovative EASI-SET building panel fire blocking system, designed to enhance fire safety in construction. Invented by CEO Ashley Smith, the system incorporates a fire-proof block that improves fire-blocking capabilities while reducing material needs. This development aligns with Smith-Midland's commitment to innovation and is expected to create an additional revenue stream linked to its SlenderWall product line. The ongoing acceptance of EASI-SET products reflects the company's strategy to lead in the precast concrete industry.
Smith-Midland Corporation announces the promotion of Stephanie Poe to Chief Financial Officer, effective January 1, 2023. Poe, who has been with the company since 2017, was previously serving as Controller. She takes over from AJ Krick, who is departing to start his own CPA business but will assist during the transition. Under Krick's leadership since 2014, the company achieved over 200% growth in total assets and equity, and 125% revenue growth. Smith-Midland specializes in precast concrete products and operates three manufacturing facilities across the U.S.
Smith-Midland Corporation (NASDAQ:SMID) has secured a significant $7.7 million contract with the North Carolina Department of Transportation to provide precast soundwall panels for the Hampstead Bypass in Pender County, NC. The contract includes approximately 329,000 square feet of soundwall and 46,000 linear feet of precast columns, enhancing the company's project backlog to a record $53.1 million. Production will commence in 2023 at their South Carolina facility. This contract underscores Smith-Midland's capabilities and product range in the precast concrete industry.
Smith-Midland Corporation (NASDAQ:SMID) announced the successful MASH Test Level 2-11 crash test for its new Low-Profile J-J Hooks Connection System. Conducted at the Texas Transportation Institute, this precast barrier offers manufacturing cost advantages and simplifies installation. The product will be available to state transportation departments across North America, enhancing Smith-Midland's market presence. Management's strong alignment with shareholder values is also highlighted, as they own approximately 5% of SMID stock.
Smith-Midland Corporation (NASDAQ:SMID) reported a record backlog of $51.4 million, an 80% year-over-year increase, alongside third-quarter revenue of $12.0 million compared to $13.1 million in 2021. Royalty revenue rose 23% to $833,000, while Easi-Set building revenue surged 168% to $1.5 million. Net income fell to breakeven, down from $3.7 million in the prior year. The company highlighted ongoing investments and a strong contract pipeline, including an $8.6 million contract with NCDOT, indicating optimism for future growth.
Smith-Midland Corporation (NASDAQ:SMID) announced it will release its third-quarter 2022 earnings before market open on November 3, 2022. The results will be accessible on the Company's website under the 'Investors' section. Smith-Midland specializes in innovative precast concrete products and systems, serving the construction, transportation, and utility sectors. The company operates three manufacturing facilities across the U.S. and has aligned interests with shareholders, as management holds approximately 5% of SMID stock.
Smith-Midland Corporation (NASDAQ: SMID) has secured a record-sized contract worth $8.6 million to produce precast concrete products for the North Carolina Department of Transportation. The contract includes 24,000 square feet of custom-designed sound wall panels, 2,300 linear feet of precast columns, and 145,000 linear feet of J-J Hooks barriers along Interstate 95 in Robeson County. Production has commenced at both North and South Carolina plants, with sound wall production starting in 2023 at the North Carolina facility. This project is expected to enhance Smith-Midland's market share.
Smith-Midland Corporation (NASDAQ:SMID) has announced a license agreement with Critical Precast Structures Inc. to manufacture Easi-Set modular buildings in Ontario and Northern New York. This agreement enhances Easi-Set’s presence in the precast building market, leveraging Critical's manufacturing capabilities. The partnership aims to uphold Easi-Set’s quality standards and expand its licensing strategy, further broadening Smith-Midland's global footprint. With over 70 companies, the Powell Group brings a strong presence to the collaboration.
Smith-Midland Corporation (NASDAQ:SMID) announced its participation in the Midwest IDEAS Investor Conference on August 24, 2022, where management will host investor meetings. The company's presentation is scheduled for 4:00 PM ET and will be available via webcast on the conference host's website. Smith-Midland develops and sells precast concrete products, catering primarily to the construction, transportation, and utilities sectors. The company operates three manufacturing facilities in Virginia, North Carolina, and South Carolina.
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.
