Smith-Midland | 8-K: FY2025 Q3 Revenue: USD 21.5 M

Revenue: As of FY2025 Q3, the actual value is USD 21.5 M.

EPS: As of FY2025 Q3, the actual value is USD 0.54.

Financial Metrics Summary

Revenue

• Total revenue for the third quarter of 2025 was $21.5 million, a decrease from $23.6 million in the third quarter of 2024.
• Product sales increased by 11% to $11.9 million, while service revenue, including barrier rentals, royalty income, and shipping and installation, decreased to $9.5 million from $12.8 million in the prior-year quarter.

Operational Metrics

• Gross profit for the quarter was $5.8 million, down from $6.6 million in the prior-year quarter, with a gross margin of 26.8% compared to 27.9%.
• Operating income was $3.6 million, slightly down from $3.8 million in the previous year.
• Net income for the third quarter was $2.9 million, or $0.54 per diluted share, compared to $3.2 million, or $0.59 per diluted share, in the third quarter of 2024.

Cash Flow and Balance Sheet

• As of September 30, 2025, Smith-Midland’s cash totaled $13.4 million, up from $7.5 million at the end of fiscal 2024.
• Accounts receivable totaled $26.9 million, and debt was $4.6 million as of September 30, 2025.
• Capital spending for the third quarter of 2025 was $2.9 million.

Unique Metrics

• Soundwall sales increased to $2.8 million from $1.9 million, and Easi-Set and Easi-Span Building Sales rose to $2.7 million from $1.8 million in the prior-year quarter.
• SlenderWall sales were $1.1 million, with no sales in the third quarter of 2024.

Outlook / Guidance

• The company anticipates increased product sales volume for the remainder of 2025 compared to 2024, although there is no assurance.
• Service revenue for the first nine months of 2025 included multiple barrier rental projects that are not expected to recur in the remainder of the year.
• Shipping and installation and royalty income for the remainder of 2025 are expected to be higher compared to the same period last year.