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) reported a record second quarter in 2021, with a 68% increase in royalty income and a 30% rise in barrier rental revenues. Revenue soared to $12.3 million, up from $10.5 million year-over-year, with net income more than doubling to $985,000. The company plans to expand its barrier rental fleet to 300,000 linear feet by year's end. With a strong backlog of $26 million and improvements in product sales, Smith-Midland is well-positioned for future growth.
Smith-Midland Corporation (NASDAQ:SMID) announced it will release its second quarter 2021 earnings results before the market opens on August 10, 2021. The company specializes in developing, manufacturing, licensing, renting, and selling precast concrete products for the construction, transportation, and utilities industries. Notably, management and the board hold approximately 20 percent of SMID stock, demonstrating a commitment to aligning with shareholder interests.
Smith-Midland Corporation (NASDAQ:SMID) has been included in the Russell Microcap® Index effective June 25, 2021, enhancing its profile among investors. CEO Ashley Smith highlighted this milestone as a reflection of the company's strong performance, including a successful uplisting to NASDAQ and securing the largest rental barrier contract in its history. The Russell Microcap® Index serves as a key benchmark for investment strategies utilized by institutional investors.
Smith-Midland Corporation (NASDAQ:SMID) has partnered with Jensen Precast to manufacture the patented J-J Hooks highway barrier system in California. This milestone follows California's approval of the MASH-tested J-J Hooks, positioning the company to tap into a significant market, with over 10 million linear feet of barrier bids available. The J-J Hooks system is currently the only MASH-tested barrier approved in California, offering advantages such as speed of installation. This partnership could unlock substantial growth opportunities for Smith-Midland in the state's infrastructure projects.
Smith-Midland Corporation (NASDAQ:SMID) reported robust first quarter results for 2021, showing a 55% revenue increase to $15.2 million from $9.8 million in 2020. Notable highlights include a 679% surge in barrier rentals and a 57% rise in royalty income. Pre-tax income rose to $3.8 million, significantly up from a loss of $49,000 in Q1 2020. The company’s cash position improved to $12.5 million, a 470% increase year-over-year, reflecting strong operational results. Smith-Midland anticipates benefits from upcoming infrastructure spending.
Smith-Midland Corporation (NASDAQ:SMID) announced its plan to release first-quarter 2021 operational results on May 11, 2021, before the market opens. The company specializes in developing and manufacturing precast concrete products primarily for the construction, transportation, and utilities sectors. Notably, management and the board hold approximately 20% of SMID stock, indicating alignment with shareholder interests.
Smith-Midland Corporation (NASDAQ:SMID) has secured a contract worth over $5.5 million to provide architectural precast concrete cladding for a 19-story multi-family building in New Rochelle, NY. This project is part of a significant $4 billion redevelopment initiative aimed at revitalizing the downtown area. The company will utilize its proprietary SlenderWall system, contributing approximately 72,000 square feet of precast panels alongside traditional precast materials. Construction commenced in February 2021, with an anticipated completion in 2023.
Smith-Midland Corporation (NASDAQ:SMID) released its fourth quarter and year-end results for 2020, highlighting a 34% increase in diluted earnings per share to $0.51, despite a revenue decline to $43.8 million from $46.7 million in 2019. Fourth quarter net income was steady at $0.7 million, with pre-tax income rising to $1.3 million. Barrier rental revenues surged by 176%, driving service revenues to $17.1 million. The company improved its liquidity, with cash and investments totaling $9.9 million. Looking ahead, Smith-Midland is positioned to leverage growth in infrastructure spending.
Smith-Midland Corporation (NASDAQ:SMID) announced the signing of a J-J Hooks manufacturing license with Ross Prestressed Concrete on March 2, 2021. This agreement aims to expand production capabilities in the Southeast, capitalizing on Ross's strategically located plants in Knoxville and Bristol, TN. Ross Prestressed Concrete has been serving the highway and commercial construction sectors since 1976 and will produce J-J Hooks at their Knoxville facility. The partnership aligns with Smith-Midland's strategic growth objectives, further penetrating the precast concrete market.
Smith-Midland Corporation (NASDAQ:SMID) announced its largest contract ever, worth over $2.25M, with Hampton Roads Connector Partners for the I-64 Hampton Roads Bridge-Tunnel expansion. This five-year project is part of a $3.8B initiative to enhance the HRBT corridor, marking a significant win for its safety barrier division, Concrete Safety Systems (CSS). The contract includes MASH compliant J-J Hooks precast concrete barriers, alongside associated services. This contract not only strengthens CSS's market position but also reflects its commitment to safety in construction.
