Smith-Midland Q3 2024 revenue record $23.6M (+51% YoY); EPS $0.59 vs $0.24

SMITH MIDLAND CORP

2025-Q3 EPS reported $1.18 revenue$59,977,000

Net income of $3.2M ($0.59 diluted EPS), up from $1.3M ($0.24) YoY; operating income $3.8M.
Service revenue surged 170% to $12.8M, led by barrier rentals ($7.1M vs $784K).
Gross margin improved to 27.9% from 22.9% on favorable product mix and fixed-cost absorption.
Backlog at Nov. 1: $62.8M, up from $60.2M a year ago; majority expected to ship within 12 months.
Utility vault sales more than doubled to $2.4M on data-center demand; architectural walls up sharply.

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