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) has expanded its operations into California following the California Department of Transportation's (Caltrans) approval of its J-J Hooks portable concrete barriers. These MASH-tested barriers come in lengths of 12.5 and 20 feet and are designed for various applications, streamlining contractors' inventory needs. CEO Ashley B. Smith anticipates significant growth from this entry into the second-largest highway system in the U.S., with the J-J Hooks already approved in 38 states. This move is expected to enhance the company's market position and increase revenues.
Smith-Midland Corporation (NASDAQ:SMID) announced its subsidiary, Easi-Set Worldwide, has commenced production of over 10 miles of MASH-rated precast concrete highway safety barriers for a $91+ million project on I-64 in West Virginia. Awarded to Triton Construction, the project includes upgrades and lane expansions. This order marks the largest for J-J Hooks, with production already exceeding 3.5 miles. Eastern Vault Company, the licensed producer, aims to complete deliveries by March 2021, enhancing operational capacity to 1 mile every two weeks.
Smith-Midland Corporation (NASDAQ:SMID) announced a significant expansion of its Easi-Set Worldwide subsidiary. Easi-Set licensed Mack Industries to produce the J-J Hooks highway safety barrier in Florida, enhancing capacity in a growing market. Following a successful launch in Michigan, Mack's Florida facility aims to meet rising demand for precast concrete products. With over 15 million linear feet supplied across North America, J-J Hooks is a proven solution in highway construction.
Smith-Midland Corporation (NASDAQ:SMID) announced its uplisting to The NASDAQ Capital Market, effective the week of November 16, 2020. This strategic move aims to enhance growth and increase long-term shareholder value. CEO Ashley Smith highlighted the company's commitment to innovation and quality, while CFO AJ Krick noted that the uplisting broadens their potential shareholder base and improves stock liquidity. Management owns approximately 17.5% of the stock, aligning with shareholder interests. The company recognizes risks, including potential impacts from COVID-19.
Smith-Midland Corporation (OTCQX:SMID) reported its Q3 2020 results, demonstrating significant financial improvements. The company achieved a 1,100 basis point increase in gross margin year-over-year, with earnings per share soaring 173% to $0.30. Barrier rental revenue surged 407%, driven by higher-margin rentals. Despite a 5% decrease in quarterly revenues to $12.5 million, net income rose 168% to $1.5 million. The firm emphasized improved liquidity, with cash and investments of $8.7 million, exceeding long-term debt of $7.8 million, showcasing resilience in a challenging environment.
Smith-Midland Corporation (OTCQX:SMID) received the Excellence in Construction Award from the ABC of Central Virginia for its specialty concrete work on the new Ferguson Enterprises HQ3 in Newport News, VA. The 260,000 sq. ft. facility features architectural precast concrete cladding panels, SlenderWall, which provide superior insulation and meet rigorous building codes. This project highlights Smith-Midland's capability to deliver integrated construction solutions. Notably, this is the second collaboration this year with W.M. Jordan and Clark Nexen, following the Harbor's Edge Tower under construction in Norfolk.
Smith-Midland Corporation (OTCQX:SMID) has received notable recognition for its SlenderWall architectural cladding project in Tysons, Virginia. The project was honored with two awards: the AGC Washington Contractor Award and the ABC Excellence in Construction Award. This marks the third award for the Lumen project, which also secured the Southeast Building Conference Grand Aurora prize earlier this year. Smith-Midland collaborated with various construction partners to produce over 80,000 sq. ft. of SlenderWall panels, enhancing thermal performance with an R-24 rating.
Smith-Midland Corporation (OTCQX:SMID) announced a new partnership with M&W Precast, LLC, which has become a licensed producer of Easi-Set Buildings. M&W, operating in Eastern Pennsylvania since 1946, recently upgraded their facilities with a new batch plant and achieved NPCA certification. The partnership aims to expand M&W's offerings in precast concrete buildings, aligning with their goal of being a comprehensive supplier. Both companies express enthusiasm for the collaborative opportunity and potential market leadership.
Smith-Midland Corporation (OTCQX:SMID) announced the development of an interactive 3D model for its SlenderWall cladding system, enhancing understanding of its building performance capabilities. The model allows users to explore the integration of durable precast exteriors with interior stud walls, showcasing features like fire compliance and thermal efficiency. This comes after Easi-Set Worldwide received a utility patent for advancements in energy code compliance, solidifying its innovation in the building envelope market.
Smith-Midland Corporation (OTCQX:SMID), a leader in precast concrete products, has partnered with Three Part Advisors, LLC to enhance its investor relations strategy. This collaboration aims to increase investor awareness and improve exposure within the investment community. Three Part Advisors brings experienced Wall Street professionals to implement a strategic IR program, aligning with the company's future growth potential. Management holds about 17.5% of SMID stock, emphasizing a commitment to shareholder interests. The firm’s history reflects a strong focus on increasing liquidity and decreasing stock price volatility.
