secwatch.observer — SEC 8-K summary
======================================

Issuer:     SMITH MIDLAND CORP (SMID)
CIK:        0000924719
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0001654954-24-006858
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith-Midland reports record annual revenue $59.6M in 2023; backlog rises to $60.8M
--------------------------------------------------------------------------------

- Q4 2023 revenue $16.4M (+13% YoY); net income $230K ($0.04 EPS) vs $5K in prior-year quarter.
- Full-year net income $795K ($0.15 EPS) flat YoY, impacted by a significant state tax liability true-up.
- Product sales up 39% to $38.7M; service revenue down 7% to $20.8M on lower shipping and installation.
- Backlog $60.8M as of March 2024, up from $52.4M a year earlier; majority expected within 12 months.
- Preliminary Q1 2024 revenue expected at least 20% higher YoY; gross margin and net income also expected higher.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924719/000165495424006858/0001654954-24-006858-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924719/000165495424006858/smid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-006858

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