Smith-Midland Q4 revenue up 45% to $14.5M; record backlog of $52.4M

SMITH MIDLAND CORP

2023-Q1 EPS reported $0.02 revenue$12,842,000

Q4 net income $4K (breakeven diluted EPS); full-year net income $800K ($0.15 EPS) vs $7.6M ($1.45) in 2021.
Full-year revenue $50.1M, nearly flat vs $50.6M; gross margin fell to 18.9% from 28.5% on higher costs.
Backlog rose 81% YoY to $52.4M; includes $8.6M NCDOT contract, $5M SoftSound noise walls, $6M architectural project.
Rental barrier fleet expanded from 250K to 550K linear feet; capital spending $5.3M.
Cash $6.7M vs $13.5M; debt $6.3M; management expects sales growth starting Q2-Q3 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMITH MIDLAND CORP reported fourth quarter of 2022 results: revenue $14.5 million, net income $4,000, EPS breakeven on a diluted share basis.

Period: fourth quarter of 2022
Revenue: $14.5 million
Net income: $4,000
EPS: breakeven on a diluted share basis
Result: reported results

Exact text from the filing

--- EX-99.1 2 smid_ex991.htm PRESS RELEASE smid_ex991.htm EXHIBIT 99.1 Smith-Midland Reports Fourth Quarter and Year End 2022 Financial Results Fourth Quarter Revenue of $14.5 Million Record Backlog of $52.4 Million MIDLAND, VA – April 17, 2023 – Smith-Midland Corporation (NASDAQ: SMID) a provider of innovative, high-quality proprietary and patented precast

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMITH MIDLAND CORP reported the period ended December 31, 2022 results: revenue $50.1 million, net income $800,000, EPS $0.15 per diluted share.

Period: the period ended December 31, 2022
Revenue: $50.1 million
Net income: $800,000
EPS: $0.15 per diluted share
Result: reported results

Exact text from the filing

Full Year 2022 Summary ● Revenue of $50.1 million versus $50.6 million in 2021 ● Net income of $800,000, or $0.15 per diluted share

View on SEC.gov

Browse all earnings releases →

SMITH MIDLAND CORP filing history →

Source: SEC EDGAR

accession 0001654954-23-004875

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.