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 an 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, a lightweight, energy efficient concrete and steel exterior wall panel for use in building construction; J-J Hooks Highway Safety Barrier, a positive-connected highway safety barrier; SoftSound, a sound absorptive finish used on the face of sound barriers to absorb traffic noise; Sierra Wall, a sound barrier primarily for roadside use, and Easi-Set and Easi-Span patented transportable concrete buildings. 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. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Smith-Midland Corp revenues increased 19% to $59.6M. Net income decreased 1% to $795K. Revenues reflect Product Sales increase of 39% to $38.7M, Royalty income increase of 5% to $2.6M. Net income was offset by Selling Expenses increase of 16% to $3.5M (expense), General and administrative expenses increase of 8% to $6M (expense), Other income decrease of 61% to $90K (income). |
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