Smith-Midland Q3 Earnings Skyrocket 146% Y/Y, Revenues Soar 51% [Yahoo! Finance]
Smith-Midland Corporation (SMID)
NASDAQ:AMEX Investor Relations:
smithmidland.com/investor-relations
Company Research
Source: Yahoo! Finance
This compares with the S&P 500 index's 2% decline over the same time frame. Over the past month, the stock has gained 31.7% versus the S&P 500's 0.7% rise. Smith-Midland reported a 51% jump in third-quarter 2024 revenues to $23.6 million from $15.7 million in the prior-year quarter. The company registered earnings per diluted share of 59 cents, up from 24 cents in the prior-year quarter. The quarterly results were primarily driven by higher revenues from service segments, which include barrier rentals, royalty income, and shipping and installation, an improved gross margin due to a favorable product mix, and better fixed-cost absorption. Service revenues skyrocketed 170% year over year to $12.8 million in the third quarter of 2024, fueled by an increase in barrier rental revenues to $7.1 million from $784,000 in third-quarter 2023. Shipping and installation revenue rose 53% year over year, reaching $4.8 million in the third quarter of 2024, supported by higher volumes of Slend
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SMID
News
- Smith-Midland Receives Over $8M in J-J Hooks Barrier Rental Contracts in Virginia [Yahoo! Finance]Yahoo! Finance
- Smith-Midland Receives Over $8M in J-J Hooks Barrier Rental Contracts in VirginiaAccesswire
- Smith-Midland to Present and Host 1x1 Investor Meetings at the 16th Annual Southwest IDEAS Investor Conference on November 21st [Yahoo! Finance]Yahoo! Finance
- Smith-Midland to Present and Host 1x1 Investor Meetings at the 16th Annual Southwest IDEAS Investor Conference on November 21stAccesswire
- Smith-Midland Reports Third Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
SMID
Sec Filings
- 12/12/24 - Form 4
- 12/10/24 - Form SC
- 11/14/24 - Form 10-Q
- SMID's page on the SEC website