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Smith-Midland Corporation (SMID) investor relations material

Smith-Midland Corporation 16th Annual Midwest Ideas Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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16th Annual Midwest Ideas Conference summary27 Aug, 2025

Industry trends and market drivers

  • Nationwide replacement of all concrete barriers is underway, driven by updated federal crash test standards, with completion targeted by 2030.

  • Infrastructure and Jobs Act provides a significant tailwind, with 60% of allocated funds yet to be spent.

  • Shift in contractor mindset from ownership to rental is accelerating demand for barrier rentals.

  • Growth in off-site precast modular construction is increasing demand for precast products.

  • Electric vehicles are prompting new crash test standards, likely requiring further barrier updates in 3–5 years.

Business operations and product innovation

  • Operations span three plants in Virginia, North Carolina, and South Carolina, with recent expansions increasing capacity.

  • Proprietary products, including JJ Hooks barriers, Slender Wall panels, Easy Set buildings, and Soft Sound noise walls, are market leaders.

  • Licensing model enables national and international reach, with 75 producers and 40 making JJ Hooks barriers.

  • Investment in R&D and patents supports ongoing product innovation and competitive advantage.

  • New low-profile and limited-deflection barriers are being developed to address evolving market needs.

Financial performance and growth

  • Revenue grew from $59.6M in 2023 to $78.5M in 2024, a 31.7% increase; trailing twelve months revenue reached $91M.

  • EBITDA rose to $12.7M in 2024, with trailing twelve months at $18.4M; EPS increased from $1.45 to $2.27.

  • Q2 2025 saw record quarterly revenue of $26.2M and net income of $4.2M, or $0.79 per diluted share.

  • Backlog remains strong at $54M, with ongoing investments in sales efforts to maintain momentum.

  • Royalty revenue is expected to approach $5M in 2025, with significant growth anticipated over the next five years.

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Frequently asked questions

Smith-Midland Corporation specializes in the development, manufacture, and marketing of precast concrete products primarily for the construction, utilities, and agricultural sectors. The company offers a diverse range of products including architectural precast panels, highway safety barriers, sound walls, utility vaults, and modular buildings. Headquartered in Midland, Virginia, Smith-Midland Corporation is listed on the NASDAQ.

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