secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MIDLAND CORP (SMID)
CIK:        0000924719
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001654954-24-007630
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith-Midland Q1 revenue up 30% to $16.8M; net income $1.1M vs $0.08M
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- Revenue $16.8M (+30% YoY); net income $1.1M ($0.22 diluted EPS) vs $0.08M ($0.02) prior year.
- Product sales $10.8M (+30%); service revenue $6.0M (+31%), driven by soundwall and utility products.
- Gross margin improved 480 bps to 23% on higher production volume and fixed cost absorption.
- Backlog grew to $64.6M as of May 2024 from $51.4M a year ago, supported by data center and infrastructure demand.
- Started construction to double North Carolina plant; expects full-year sales increase on state/local infrastructure funding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924719/000165495424007630/0001654954-24-007630-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924719/000165495424007630/smid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-007630

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