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Smith-Midland
Smith-Midland (SMID) investor relations material
Smith-Midland Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary14 Apr, 2026
Executive summary
Achieved record annual revenue of $93.4 million, up 19% year-over-year, and record net income of $12.5 million, up 63% from the prior year.
Fourth quarter revenue rose 25% to $23.1 million, with net income of $2.1 million, a 50% increase over the prior-year quarter.
Growth driven by increased product sales, service revenue, and proactive cost management.
Financial highlights
Full-year gross margin improved by 240 basis points to 27.9%; gross profit reached $26.0 million.
Operating income for 2025 was $17.0 million, up from $9.9 million in 2024.
Diluted EPS for 2025 was $2.36, compared to $1.45 in the prior year.
Cash at year-end was $11.9 million; debt totaled $4.4 million.
Outlook and guidance
Expects similar product sales volumes in 2026, with continued benefit from Infrastructure Investment and Jobs Act funding.
Anticipates higher barrier rentals (excluding special projects) and ongoing growth in SlenderWall and barrier rental segments.
Backlog at March 2025 was $53.1 million, with most projects to be fulfilled within 12 months.
Discuss 2026 rental outlook vs 2025 projects
Utility sales decline and data center outlook
Explain the year-over-year backlog decline
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Latest events from Smith-Midland
- Barrier replacement mandates and plant expansions fuel record growth and strong financials.SMID
15th Annual Midwest IDEAS Investor Conference23 Jan 2026 - Record-breaking growth driven by infrastructure demand, rentals, and proprietary barriers.SMID2024 Southwest IDEAS Conference12 Jan 2026
- Shareholders will elect directors, ratify auditors, and review governance and compensation policies.SMIDProxy Filing2 Dec 2025
- Annual meeting to elect five directors and ratify BDO USA, LLP as auditors.SMIDProxy Filing2 Dec 2025
- Annual meeting to elect directors, ratify auditors, and approve executive pay, with strong governance.SMIDProxy Filing2 Dec 2025
- Barrier replacement mandates and rental growth are fueling record revenue and expansion.SMID16th Annual Midwest Ideas Conference23 Nov 2025
- Barrier replacement and infrastructure tailwinds fuel record growth and future optimism.SMID17th Annual Southwest IDEAS Conference21 Nov 2025
- Nine-month net income rose 65% to $10.38M, but revenue and backlog declined.SMIDQ3 202514 Nov 2025
- Q1 net income and revenue surged, backlog hit $64.6M, and plant expansion began.SMIDQ1 202415 Oct 2025
Next Smith-Midland earnings date
Q1 20269 Jul, 2026
Smith-Midland
Next Smith-Midland earnings date
Q1 20269 Jul, 2026
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