Smith-Midland Corp Expects Growth in Product Sales Volume
Infrastructure Initiatives: Increased bidding activity in the U.S. is expected to boost the company's backlog and product sales volume for the remainder of 2025 compared to 2024, although there are no guarantees.
Service Revenue and Projects: The first nine months of 2025 included unique barrier rental projects that are not expected to recur, while shipping, installation, and royalty income are projected to rise compared to the previous year.
Backlog Status: As of November 1, 2025, the company's backlog was approximately $54.8 million, down from $62.8 million the previous year, with most projects expected to be completed within 12 months.
Long-term Growth Focus: The company is committed to long-term strategic growth initiatives aimed at enhancing shareholder value, despite ongoing inflationary pressures and challenges in managing material costs and labor retention.
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First Trust SMID ETF Net Asset Value Update
- Fund Code and Issuance Info: The First Trust SMID Rising Dividend Achievers UCITS ETF is identified by the code SDVI.LN, with a total of 340,361 shares issued, indicating the fund's active presence in the market.
- Net Asset Value: As of January 29, 2026, the fund's net asset value (NAV) stands at $1,112,459.17, showcasing its appeal and performance among investors.
- NAV per Share: The fund's NAV per share is $27.563, reflecting its stability and potential returns in the small-cap and high-dividend stock investment sector.
- Market Dynamics: This update is sourced from Business Wire, highlighting First Trust Global Funds PLC's commitment to transparency and information disclosure, which helps to bolster investor confidence.
SMID Stock Declines Following Disappointing Q3 Earnings and Weaker Rental Performance
Stock Performance: Smith-Midland Corporation's shares have declined 12.7% following its quarterly results, underperforming the S&P 500 Index, primarily due to lower service revenues and a decrease in barrier rental activity compared to the previous year.
Quarterly Financials: The company reported third-quarter revenues of $21.5 million, down from $23.6 million a year earlier, with net income at $2.9 million. Product sales increased by 11%, but service revenues, particularly from barrier rentals, saw significant declines.
Management Outlook: Despite the challenges, management remains optimistic about future growth, citing strong demand for infrastructure projects and the potential for increased product sales, particularly in soundwalls and SlenderWall products.
Operational Developments: Smith-Midland's backlog decreased to $54.8 million, and the company reported an arbitration settlement that positively impacted its expenses. However, no new acquisitions or restructuring actions were disclosed during the quarter.
