Smith-Midland Q2 revenue falls to $23.4 million; net income drops to $1.4 million
Smith-Midland reported second-quarter 2026 revenue of $23.4 million, down from $26.2 million a year earlier, and net income of $1.4 million, or $0.26 per diluted share, down from $4.2 million, or $0.79. The company attributed the decline mainly to a higher-margin special barrier rental project in the 2025 quarter that did not recur. Backlog was approximately $57.4 million as of August 1, 2026, up from $54 million a year earlier.
Key points
- Revenue was $23.4 million versus $26.2 million; product sales were $11.2 million versus $13.4 million.
- Gross margin was 23.2% versus 29.7%, mainly due to the special barrier rental project in Q2 2025 that did not recur.
- Net income was $1.4 million, or $0.26 per diluted share, versus $4.2 million, or $0.79 per diluted share.
- Backlog was approximately $57.4 million as of August 1, 2026, compared with $54 million one year earlier.
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.