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Smith-Midland Reports Second Quarter 2026 Financial Results

  • Smith-Midland Corporation reported Q2 2026 revenue of $23.4 million, down from $26.2 million in Q2 2025.
  • Gross profit for the quarter was $5.4 million compared to $7.8 million in the prior-year period.
  • Operating income decreased to $2.0 million from $5.5 million in Q2 2025.
  • Net income for Q2 2026 was $1.4 million ($0.26 per diluted share) versus $4.2 million ($0.79 per share) in the prior year.
  • The backlog increased by 19% quarter-over-quarter to reach $57.4 million as of August 1, 2026.
  • The company secured a $10 million contract with the Virginia Department of Transportation for the I-81 project.
  • A $1.7 million data center project was awarded in Louisiana.
  • Utility vault production for a Virginia data center project generated nearly $1 million.
  • Utility product sales surged 126% to $2.0 million driven by demand in data centers & infrastructure.
  • Barrier sales rose to $2.8 million due to replacement requirements for MASH TL-3 standards.
  • Cash reserves stood at $10.7 million as of June 30, 2026, with total debt at $4.1 million.
  • Capital spending totaled $1.9 million during the second quarter of 2026.
  • Management anticipates increased full-year 2026 product sales & plans facility expansions in Virginia & North Carolina.