---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-22-004400"
form_type: "8-K"
ticker: "SMID"
cik: "0000924719"
company_name: "SMITH MIDLAND CORP"
filed_at: "2022-04-01T23:59:59+00:00"
generated_at: "2026-06-26T11:25:31.253327+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Smith-Midland posts record FY2021 EPS of $1.45, revenue up 15% YoY

## Summary
- Net income for FY2021 grew 184% to $7.6M ($1.45 EPS) vs $0.51; PPP loan forgiveness contributed $0.51 EPS.
- Total revenue up 15% to $50.6M; barrier rental revenue increased 44% to ~$10M; royalty revenue up 31% to $2.2M.
- Q4 2021 revenue down 10% to $10.0M; operating loss of $179K vs income of $1.3M in Q4 2020.
- Backlog rose to $29M from $19.6M; plans $5M for rental fleet expansion to ~550k linear feet.
- Company expects slow Q1 2022 then increased sales in H2 2022; cites infrastructure bill as positive driver.

## SEC filing metadata
- accession: 0001654954-22-004400
- form_type: 8-K
- ticker: SMID
- cik: 0000924719
- company_name: SMITH MIDLAND CORP
- filed_at: 2022-04-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924719/000165495422004400/0001654954-22-004400-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924719/000165495422004400/smid_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-22-004400
- JSON: https://secwatch.observer/filing/0001654954-22-004400.json
- Plain text: https://secwatch.observer/filing/0001654954-22-004400.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.