Smith-Midland Q1 net income falls to $1.3M from $3.3M; product sales up 29%

SMITH MIDLAND CORP

Revenue $21.6M, down 5% YoY from $22.7M; product sales rose 29% to $11.8M.
Net income $1.3M ($0.25 diluted EPS) vs $3.3M ($0.62) prior year; gross margin 19.9% vs 30.7%.
Service revenue dropped to $9.8M from $13.6M due to non-recurring special barrier projects in Q1 2025.
Cash $13.2M, debt $4.3M; backlog $48.1M as of May 2025 (likely May 2026).
CEO expects product sales growth to continue; Q2 results may not compare favorably to prior year.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMITH MIDLAND CORP reported first quarter ended March 31, 2026 results: revenue $21.6 million, net income $1.3 million, or $0.25 per diluted share, EPS $0.25 per diluted share.

Period: first quarter ended March 31, 2026
Revenue: $21.6 million
Net income: $1.3 million, or $0.25 per diluted share
EPS: $0.25 per diluted share
Result: reported results

Exact text from the filing

and systems, today announced its first quarter results for the period ended March 31, 2026. First Quarter 2026 Summary (compared to prior-year first quarter) · Revenue of $21.6 million compared to $22.7 million · Product sales increased 29 percent to $11.8 million · Gross Profit of $4.3 million compared to $7.0 million · Operating income of $1.7 million

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Source: SEC EDGAR

accession 0001654954-26-005827

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