---
title: "Smith Midland 2025 10-K: $93.4M Revenue, $2.36 EPS"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282746710.md"
description: "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."
datetime: "2026-04-14T21:15:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282746710.md)
  - [en](https://longbridge.com/en/news/282746710.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282746710.md)
---

# Smith Midland 2025 10-K: $93.4M Revenue, $2.36 EPS

Smith Midland reported fiscal 2025 revenue of $93.446 million and net income of $12.506 million, or $2.36 per share, reflecting stronger margins and lower operating expenses versus 2024. Revenue increased 19% year-over-year, driven by expanded barrier rentals, shipping & installation services and product sales, while EPS rose from $1.45 to $2.36. Management cites improved operational mix and continued demand for infrastructure-related products as drivers of the results.

**Financial Highlights**

-   **Total Revenue:** $93.446 million, up $14.938 million (19%) versus 2024.
-   **Gross Profit:** $26.038 million (as reported).
-   **Operating Income:** $16.994 million, up $7.095 million (72%).
-   **Net Income:** $12.506 million, versus $7.675 million in 2024.
-   **Net Income Per Share:** $2.36 basic and diluted, versus $1.45 in 2024.

**Business Highlights**

-   **Revenue mix shift:** The company is moving from barrier sales toward higher-margin barrier rentals, expanding its rental fleet and executing special projects that boosted 2025 results.
-   **Product momentum:** SlenderWall® production was renewed and Soundwall volumes increased, contributing to product sales growth.
-   **Operational investment:** Capital spending ramped up for barrier production, attenuators and plant expansions; management plans capital expenditures in excess of $12 million for 2026 to increase capacity.
-   **Backlog & outlook:** Backlog was approximately $53.1 million as of March 3, 2026; management expects similar product volumes in 2026 with continued infrastructure-driven demand.

Original SEC Filing: SMITH MIDLAND CORP \[ SMID \] - 10-K - Apr. 14, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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