Smith-Midland Q2 revenue falls to $23.4M, EPS $0.26; backlog up 19% to $57.4M

SMITH MIDLAND CORP

Q2 revenue $23.4M vs $26.2M; net income $1.4M ($0.26/diluted) vs $4.2M ($0.79) YoY.
Gross margin 23.2% vs 29.7%; operating income $2.0M vs $5.5M.
Backlog $57.4M as of Aug 1, 2026, up 19% QoQ and 6% YoY.
Post-quarter awards: $10M I-81 VDOT contract, $1.7M Louisiana data center, ~$1M utility vaults.
Utility product sales up 126% YoY; barrier sales up to $2.8M from $1.2M.

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