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Smith-Midland Corporation (SMID) investor relations material

Smith-Midland Corporation 17th Annual Southwest IDEAS Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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17th Annual Southwest IDEAS Conference summary20 Nov, 2025

Industry trends and market drivers

  • Nationwide replacement of all highway concrete safety barriers is underway, driven by updated federal standards, with full compliance required by 2030 in Virginia and 2027 in California.

  • Infrastructure investment is a major tailwind, with global demand for new infrastructure projected at $68 trillion by 2040.

  • Population growth in the Mid-Atlantic and Southeast U.S. is fueling construction and infrastructure demand.

  • Off-site modular construction is gaining traction due to labor shortages and efficiency needs.

Product and service highlights

  • Four proprietary products, including J-J Hook barrier and SlenderWall panel, are market leaders in their segments.

  • Rental division for highway safety barriers has over 90% utilization, with recurring revenue and upfront payments.

  • Licensing of proprietary products is expanding, with over 40 precasters producing under license and royalty revenue growing 10% annually.

  • Custom precast products serve diverse markets, including security and architectural applications.

Financial performance and outlook

  • Q3 2025 revenue reached $11.9 million, up 11% year-over-year; trailing 12-month revenue was $88.9 million, a 33% increase.

  • Backlog stands at $54.8 million, with a strong sales pipeline and expanded sales team in the Southeast.

  • Earnings per share for the trailing 12 months rose to $2.23 from $1.45 the prior year.

  • Royalty revenue for the first nine months of 2025 was $3.2 million, up 33% from the prior year, and is expected to approach $5 million for the full year.

  • Deferred rental income on the balance sheet is about $10 million, reflecting future revenue from barrier rentals.

What makes J.J. Hook superior to state designs?
How does upfront rental cash flow aid growth?
SMID's strategy for data center market growth?
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Frequently asked questions

Smith-Midland Corporation specializes in the development, manufacture, and marketing of precast concrete products primarily for the construction, utilities, and agricultural sectors. The company offers a diverse range of products including architectural precast panels, highway safety barriers, sound walls, utility vaults, and modular buildings. Headquartered in Midland, Virginia, Smith-Midland Corporation is listed on the NASDAQ.

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