secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MIDLAND CORP (SMID)
CIK:        0000924719
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001654954-22-014652
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith-Midland Q3 net income $5K on revenue $12M; backlog hit record $51.4M
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- Revenue $12.0M (down 8.4% YoY); net income $5K ($0.00 EPS) vs $3.7M ($0.71) including $2.7M PPP gain.
- Record backlog of $51.4M (+80% YoY); awarded $8.6M NCDOT contract post-quarter.
- Royalty revenue $833K (+23%); Easi-Set building revenue $1.523M (+168%).
- Cash $10.8M, debt $6.6M; capital spending $1.8M vs $0.3M in Q3 2021.
- Completed crash test for low-profile barriers targeting Texas and Florida markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924719/000165495422014652/0001654954-22-014652-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924719/000165495422014652/smid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-014652

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