Smith-Midland Corp (OQ:SMID)
Business Focus: Construction Materials
| Sector: Basic Materials | Industry: Construction Materials |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | ROUTE 28 P O Box 300 MIDLAND VA 22728 |
| Tel: | 1-540-4393266 |
| Website: | https://smithmidland.com |
| IR: | See website |
| Key People | ||
| Ashley B. Smith Chairman of the Board, President, Chief Executive Officer | Stephanie Poe Chief Financial Officer | |
| Business Overview |
| Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs a broad array of precast concrete products and systems for use primarily in the construction, highway, utilities and farming industries through its six wholly owned subsidiaries. The Company's products include SlenderWall Lightweight Construction Panels, Sierra Wall, J-J Hooks Highway Safety Barrie, Easi-Set Precast Buildings and Easi-Span Expandable Precast Buildings, Easi-Set Utility Vault, SoftSound Soundwall Panels, Beach Prisms Erosion Control Modules and H2Out Secondary Drainage System. Its precast, licensing, and barrier rental customers are primarily general contractors and federal, state, and local transportation authorities located in the Mid-Atlantic, Northeastern, Midwestern and Southeastern regions of the United States. It operates three manufacturing facilities, which are located in Midland, Virginia, Reidsville, North Carolina and Hopkins (Columbia), South Carolina. |
| Financial Overview |
| For the nine months ended 30 September 2023, Smith-Midland Corp revenues increased 21% to $43.2M. Net income decreased 29% to $564K. Revenues reflect Product Sales increase of 51% to $29.8M. Net income was offset by General and administrative expenses increase of 16% to $4.4M (expense), Selling Expenses increase of 13% to $2.5M (expense), Other income decrease of 65% to $73K (income). |
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