Smith-Midland Corporation (SMID) Financial Statements (2024 and earlier)

Company Profile

Business Address ROUTE 28
MIDLAND, VA 22728
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3272 - Concrete Products, Except Block and Brick (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 13,4928,7641,3641,9464,488
Cash and cash equivalents 13,4928,7641,3641,9463,390
Short-term investments      1,098
Receivables16,22310,0139,79812,72312,2818,967
Inventory, net of allowances, customer advances and progress billings (88)(74)(72)(72)(65)(39)
Inventory (88)(74)(72)(72)(65)(39)
Prepaid expense477411 4329091,359
Other undisclosed current assets12,3283,9094,8514,5846,5254,257
Total current assets:28,94027,75123,34119,03121,59619,032
Noncurrent Assets
Property, plant and equipment25,12421,92618,60217,73514,1029,867
Deferred costs  3,3904,2375,0425,304 
Other noncurrent assets   319307367326
Other undisclosed noncurrent assets249258    
Total noncurrent assets:25,37325,57423,15823,08419,77310,193
TOTAL ASSETS:54,31353,32546,49942,11541,36929,225
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,6152,7283,2113,3054,8223,647
Taxes payable 470   
Accounts payable5,8162,0711,8663,1804,2123,059
Accrued liabilities799657875125610588
Deferred revenue 1,8651,7741,891
Debt6184681,9431,9721,711637
Deferred revenue and credits1,144
Other undisclosed current liabilities3,9918,8481,9722,4345,1782,406
Total current liabilities:11,22413,9098,9009,60211,7117,834
Noncurrent Liabilities
Long-term debt and lease obligation5,7303,84610,8899,5652,7922,896
Long-term debt, excluding current maturities5,7303,7246,8884,0862,7922,896
Finance lease, liability   3,7905,183
Liabilities, other than long-term debt4,3041,9553,0612,127  
Deferred revenue2,174 600241
Deferred income tax liabilities2,0851,9552,4611,886
Operating lease, liability45122211296
Other undisclosed noncurrent liabilities  1,865  8,0191,290
Total noncurrent liabilities:10,0347,66613,95011,69210,8114,186
Total liabilities:21,25821,57522,85021,29422,52212,020
Equity
Equity, attributable to parent33,05531,75023,64920,82118,84717,205
Common stock535352525151
Treasury stock, value (102)(102)(102)(102)(102)(102)
Additional paid in capital7,4406,9356,4056,2425,9735,719
Accumulated other comprehensive loss    (10)(37)(19)
Retained earnings25,66424,86417,29414,63912,96211,556
Other undisclosed equity, attributable to parent      
Total equity:33,05531,75023,64920,82118,84717,205
TOTAL LIABILITIES AND EQUITY:54,31353,32546,49942,11541,36929,225

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues50,13150,64243,86246,69140,22041,717
Revenue, net41,717
Cost of revenue
(Cost of Goods and Services Sold)
(40,662)(36,222)(32,820)(36,722)(29,730)(30,136)
Gross profit:9,46914,42011,0429,96910,49011,581
Operating expenses(8,615)(8,252)(7,283)(7,423)(8,274)(7,866)
Operating income:8546,1683,7592,5462,2163,715
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
912,92633(38)4326
Interest and debt expense(260)2,692(217)(179)(176)(184)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  (2,692)217179176184
Income from continuing operations before equity method investments, income taxes:6859,0943,7922,5082,2593,741
Other undisclosed income from continuing operations before income taxes260     
Income from continuing operations before income taxes:9459,0943,7922,5082,2593,741
Income tax expense(145)(1,524)(1,127)(549)(572)(1,057)
Income from continuing operations:8007,5702,6651,9591,6872,684
Income before gain (loss) on sale of properties:7,5702,6651,9591,6872,684
Other undisclosed net income      
Net income:8007,5702,6651,9591,6872,684
Other undisclosed net loss attributable to parent      
Net income available to common stockholders, diluted:8007,5702,6651,9591,6872,684

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:8007,5702,6651,9591,6872,684
Other comprehensive income (loss)    27(18)6
Comprehensive income, net of tax, attributable to parent:8007,5702,6651,9861,6692,690

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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