Smith Midland 2025 10-K: $93.4M Revenue, $2.36 EPS
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Smith Midland reported fiscal 2025 revenue of $93.446 million, a 19% increase from 2024, with net income of $12.506 million or $2.36 per share. The growth was driven by higher-margin barrier rentals and increased product sales. Operating income rose 72% to $16.994 million. The company plans over $12 million in capital expenditures for 2026 to boost production capacity, with a backlog of approximately $53.1 million. Management anticipates continued demand for infrastructure-related products in 2026.
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