---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-004875"
form_type: "8-K"
ticker: "SMID"
cik: "0000924719"
company_name: "SMITH MIDLAND CORP"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T01:08:32.625901+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-23-004875
- form_type: 8-K
- ticker: SMID
- cik: 0000924719
- company_name: SMITH MIDLAND CORP
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924719/000165495423004875/0001654954-23-004875-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924719/000165495423004875/smid_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-004875
- JSON: https://secwatch.observer/filing/0001654954-23-004875.json
- Plain text: https://secwatch.observer/filing/0001654954-23-004875.txt

## Key facts
- Earnings Releases
  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
  source text: --- 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/924719/000165495423004875/0001654954-23-004875-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/924719/000165495423004875/0001654954-23-004875-index.htm

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