secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MIDLAND CORP (SMID)
CIK:        0000924719
Form:       8-K
Filed at:   2022-05-13T23:59:59+00:00
Accession:  0001654954-22-006730
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith-Midland Q1 revenue down 31% to $10.4M; net loss $0.1M vs prior year profit
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- Revenue $10.4M (down 31% YoY); operating loss $0.2M vs operating income $3.8M in Q1 2021.
- Net loss $0.1M ($0.02 loss per share) vs net income $2.9M ($0.55 EPS) in prior year.
- Backlog up 13% to $32.7M; core rental barrier fleet revenue grew 12% despite total rental revenue decline.
- Subsequent awards: $6.6M NC plant contract (largest ever), $2M HRBT soundwall contract; rental fleet to more than double.
- Company attributes results to non-recurring special projects and operational delays; cash $14.8M, debt $6.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924719/000165495422006730/0001654954-22-006730-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924719/000165495422006730/smid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-006730

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer