Smith-Midland Reports First Quarter 2025 Financial Results
Smith-Midland (NASDAQ:SMID) reported robust Q1 2025 financial results, with revenue surging 35% to $22.7 million and net income nearly tripling to $3.3 million ($0.62 per diluted share). The company's gross margin improved significantly by 740 basis points to 30.7%.
Service revenue, including barrier rentals, royalties, and shipping/installation, more than doubled to $13.6 million. Product sales reached $9.1 million, with notable growth in Soundwall sales (+27%) and Easi-Set building sales. The company maintains a strong balance sheet with $9.0 million in cash and a substantial backlog of $52 million as of May 2025.
Management anticipates stronger performance in Q2 2025 compared to the previous year, supported by ongoing infrastructure initiatives and upcoming SlenderWall projects.
Smith-Midland (NASDAQ:SMID) ha comunicato solidi risultati finanziari per il primo trimestre 2025, con ricavi in crescita del 35% a 22,7 milioni di dollari e un utile netto quasi triplicato a 3,3 milioni di dollari (0,62 dollari per azione diluita). Il margine lordo dell'azienda 猫 migliorato significativamente di 740 punti base, raggiungendo il 30,7%.
I ricavi dai servizi, che includono noleggi di barriere, royalties e spedizioni/installazioni, sono pi霉 che raddoppiati arrivando a 13,6 milioni di dollari. Le vendite di prodotti hanno raggiunto 9,1 milioni di dollari, con una crescita rilevante nelle vendite di Soundwall (+27%) e degli edifici Easi-Set. L'azienda mantiene un bilancio solido con 9,0 milioni di dollari in liquidit脿 e un consistente portafoglio ordini pari a 52 milioni di dollari a maggio 2025.
La direzione prevede una performance ancora pi霉 forte nel secondo trimestre 2025 rispetto all'anno precedente, sostenuta dalle iniziative infrastrutturali in corso e dai prossimi progetti SlenderWall.
Smith-Midland (NASDAQ:SMID) inform贸 s贸lidos resultados financieros para el primer trimestre de 2025, con ingresos que aumentaron un 35% hasta 22,7 millones de d贸lares y una ganancia neta que casi se triplic贸 a 3,3 millones de d贸lares (0,62 d贸lares por acci贸n diluida). El margen bruto de la compa帽铆a mejor贸 significativamente en 740 puntos b谩sicos, alcanzando un 30,7%.
Los ingresos por servicios, que incluyen alquileres de barreras, regal铆as y env铆o/instalaci贸n, m谩s que se duplicaron hasta 13,6 millones de d贸lares. Las ventas de productos alcanzaron 9,1 millones de d贸lares, con un crecimiento notable en las ventas de Soundwall (+27%) y de edificios Easi-Set. La empresa mantiene un balance s贸lido con 9,0 millones de d贸lares en efectivo y una cartera de pedidos sustancial de 52 millones de d贸lares a mayo de 2025.
La direcci贸n anticipa un mejor desempe帽o en el segundo trimestre de 2025 en comparaci贸n con el a帽o anterior, apoyado por las iniciativas de infraestructura en curso y los pr贸ximos proyectos SlenderWall.
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Smith-Midland (NASDAQ:SMID) a annonc茅 des r茅sultats financiers solides pour le premier trimestre 2025, avec un chiffre d'affaires en hausse de 35 % 脿 22,7 millions de dollars et un b茅n茅fice net presque tripl茅 脿 3,3 millions de dollars (0,62 dollar par action dilu茅e). La marge brute de l'entreprise s'est nettement am茅lior茅e de 740 points de base pour atteindre 30,7 %.
Les revenus des services, incluant la location de barri猫res, les redevances et la livraison/installation, ont plus que doubl茅 pour atteindre 13,6 millions de dollars. Les ventes de produits ont atteint 9,1 millions de dollars, avec une croissance notable des ventes de Soundwall (+27 %) et des b芒timents Easi-Set. L'entreprise maintient un bilan solide avec 9,0 millions de dollars en liquidit茅s et un carnet de commandes important de 52 millions de dollars en mai 2025.
La direction pr茅voit une performance plus forte au deuxi猫me trimestre 2025 par rapport 脿 l'ann茅e pr茅c茅dente, soutenue par les initiatives d'infrastructure en cours et les prochains projets SlenderWall.
Smith-Midland (NASDAQ:SMID) meldete starke Finanzergebnisse f眉r das erste Quartal 2025, mit einem Umsatzanstieg von 35 % auf 22,7 Millionen US-Dollar und einem fast verdreifachten Nettogewinn von 3,3 Millionen US-Dollar (0,62 US-Dollar je verw盲sserter Aktie). Die Bruttomarge des Unternehmens verbesserte sich deutlich um 740 Basispunkte auf 30,7 %.
Die Serviceerl枚se, einschlie脽lich Barrierenvermietung, Lizenzgeb眉hren sowie Versand und Installation, mehr als verdoppelten sich auf 13,6 Millionen US-Dollar. Der Produktverkauf erreichte 9,1 Millionen US-Dollar, mit bemerkenswertem Wachstum bei Soundwall-Verk盲ufen (+27 %) und Easi-Set-Geb盲uden. Das Unternehmen verf眉gt 眉ber eine starke Bilanz mit 9,0 Millionen US-Dollar in bar und einem erheblichen Auftragsbestand von 52 Millionen US-Dollar im Mai 2025.
Das Management erwartet f眉r das zweite Quartal 2025 eine st盲rkere Leistung im Vergleich zum Vorjahr, gest眉tzt durch laufende Infrastrukturprojekte und bevorstehende SlenderWall-Projekte.
- Revenue increased 35% year-over-year to $22.7 million
- Net income nearly tripled to $3.3 million ($0.62 per share)
- Gross margin improved significantly by 740 basis points to 30.7%
- Service revenue more than doubled to $13.6 million
- Strong cash position of $9.0 million with manageable debt of $4.9 million
- Substantial backlog of $52 million as of May 2025
- Q2 2025 preliminary outlook indicates stronger performance than previous year
- Product sales declined to $9.1 million from $10.8 million year-over-year
- Backlog decreased from $64.6 million to $52 million compared to previous year
- No SlenderWall or architectural panel sales reported in Q1 2025
- Utility product sales decreased 40% compared to prior year quarter
- Ongoing inflationary pressures affecting materials costs and labor retention
Insights
Smith-Midland delivers exceptional Q1 results with 35% revenue growth and tripled net income, driven by barrier projects and strategic rental focus.
Smith-Midland's Q1 2025 results demonstrate remarkable financial strength with revenue increasing
The revenue growth was primarily driven by service revenue, which more than doubled to
The company's balance sheet remains solid with
Looking ahead, Smith-Midland expects continued momentum with consistent sales volume for 2025 compared to 2024, and anticipates Q2 2025 results to be substantially better than Q2 2024. The company is well-positioned to benefit from infrastructure spending at federal, state, and local levels, particularly for road projects requiring their precast concrete products.
Company Reports Strong Revenue Growth and Tripling of Net Income From Prior Year
MIDLAND, VA / / July 10, 2025 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced its first quarter results for the period ended March 31, 2025.
First Quarter 2025 Summary (compared to prior-year first quarter)
Revenue increased 35 percent to
$22.7 million Gross margin increased 740 basis points to
30.7% Operating income of
$4.4 million compared to$1.5 million Net income of
$3.3 million , or$0.62 per diluted share, compared to$1.1 million and$0.21
"We are off to a very strong start in 2025, reporting a
First Quarter 2025 Results
The Company reported 2025 first quarter revenues of
Gross profit increased to
Operating income for the quarter was
Product Sales
Total product sales for the first quarter of 2025 were
Service Revenue
Service revenue which is comprised of royalty income, barrier rental revenue, and shipping and installation totaled
Balance Sheet and Liquidity
As of March 31, 2025, Smith-Midland's cash totaled
Macro Environment and Outlook
The Company anticipates consistent sales volume for the full year of 2025 compared to 2024, but on which there can be no assurance. Infrastructure initiatives across the United States continue to drive greater bidding activity and a subsequent increase in backlog for its portfolio of patented, proprietary, and custom products. In addition, several SlenderWall projects are scheduled to commence production in the second half of the year. Inflationary pressures still remain, and the Company continues to manage its materials costs while attracting and retaining skilled labor. Backlog was approximately
Preliminary Second Quarter 2025 Results
The Company anticipates second quarter 2025 revenue to be substantially greater than in the second quarter of 2024. Gross margin and net income are both expected to be greater than the prior-year second quarter as well. The foregoing is based on preliminary results and there can be no assurance that such results will be achieved. The Company anticipates it will report its second quarter results in the near future.
About Smith-Midland
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庐 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庐, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit .
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 new Administration and DOGE, the risk of less government spending on infrastructure than anticipated, inflationary factors including potential recession, our material weaknesses in internal controls, 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.
Company Contact:
Dominic L. Hunter
540-439-3266
[email protected]
Investor Relations:
Steven Hooser or John Beisler
Three Part Advisors, LLC
214-872-2710
SOURCE: Smith-Midland
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