Smith-Midland Q3 revenue up 31% to $15.7M, net income $1.3M vs $5k

SMITH MIDLAND CORP

Revenue $15.7M (+31% YoY); product sales up 54% to $10.9M.
Gross margin 22.9% (up 550 bps); operating income $1.5M vs $4k.
Net income $1.3M ($0.24 diluted EPS) vs $5k ($0.00) in Q3 2022.
Backlog $60.2M; awarded $6.8M Baltimore Harbor Tunnel and $1.6M I-64 barrier rental.
Fourth consecutive quarter of double-digit revenue growth; outlook positive for 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SMITH MIDLAND CORP reported Third Quarter 2023 results: revenue $15.7 million, net income $1.3 million, EPS $0.24 per diluted share.

Period: Third Quarter 2023
Revenue: $15.7 million
Net income: $1.3 million
EPS: $0.24 per diluted share
Result: reported results

Exact text from the filing

Smith-Midland Reports Third Quarter 2023 Financial Results Revenue Increased 31% to $15.7 Million; Backlog Remains Strong Over $60 Million

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Source: SEC EDGAR

accession 0001654954-23-013979

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