Smith-Midland Corporation reported second-quarter earnings of 26 cents per share, down about 67% from 79 cents a year earlier, as revenues fell 11% to $23.4 million from $26.2 million, reflecting a difficult comparison with a large special barrier project in the prior-year quarter. Net income dropped to $1.4 million from $4.2 million, and gross margin contracted to 23.2% from 29.7%. Within product sales, soundwall revenues fell 53% to $2.5 million and SlenderWall revenues dropped 91% to $132,000, while barrier sales surged 124% to $2.8 million and utility sales rose 126% to $2 million. Backlog stood at $57.4 million as of Aug. 1, up 19% sequentially, and the company highlighted recent awards including a $10-million Interstate 81 project, its third-largest contract, a $1.7-million Louisiana data-center project, and nearly $1 million of utility-vault work for a Virginia data center. CEO Ashley Smith said the quarter benefited from the highway-barrier replacement cycle and data-center demand, and management expects 2026 product sales to exceed 2025 levels despite lower second-half revenues due to the absence of special barrier projects.
Smith-Midland CorpQ2 earnings dropped 67% on lower revenues and margins, though backlog and awards are positive.
