Smith-Midland Reports Third Quarter 2024 Financial Results
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Smith-Midland Corporation (NASDAQ:SMID) reported a record quarterly revenue of $23.6 million for Q3 2024, a 51% increase from the previous year. The company saw a significant rise in service revenue and net income, driven by sector tailwinds and special barrier projects.
November 14, 2024 | 9:15 pm
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Smith-Midland Corporation reported a record Q3 2024 revenue of $23.6 million, a 51% increase from the previous year. The company's service revenue surged 170%, contributing to a net income of $3.2 million. The results were driven by sector tailwinds and special barrier projects.
The significant increase in revenue and net income, along with a substantial rise in service revenue, indicates strong financial performance. The company's success in special barrier projects and sector tailwinds suggest a positive short-term outlook for the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100