Smith-Midland Reports Record Q3 2024 Revenue
Q3 Earnings Report: Smith-Midland Corporation reported record revenue of $23.6 million in Q3 2024, a 51% increase from the previous year, driven by strong service revenue and increased demand for barrier rentals and utility vaults.
Future Outlook: The company is optimistic about sustaining growth due to ongoing U.S. infrastructure initiatives, despite inflationary pressures, and has a strong backlog of $62.8 million to support its strategic initiatives.
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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.
