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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,7273,936 10,80812,42514,818
Cash and cash equivalents4,7273,936 10,80812,42514,818
Receivables17,78420,87716,22313,35112,66812,047
Inventory, net of allowances, customer advances and progress billings   (88)   
Inventory   (88)   
Prepaid expense1,212776477622 411
Other undisclosed current assets4,7524,99112,3284,2624,7974,231
Total current assets:28,47530,58028,94029,04329,89031,507
Noncurrent Assets
Property, plant and equipment26,88625,67625,12424,16522,90621,632
Deferred costs    8251,9643,171
Other undisclosed noncurrent assets356243249244252260
Total noncurrent assets:27,24225,91925,37325,23425,12225,063
TOTAL ASSETS:55,71756,49954,31354,27755,01256,570
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,4767,0806,6155,0044,7523,817
Accounts payable5,6846,4405,8164,5773,7323,525
Accrued liabilities7926407994271,020292
Deferred revenue1,9912,001 2,0061,6662,383
Debt629636618619613607
Other undisclosed current liabilities3,9103,4713,9913,2294,4547,762
Total current liabilities:13,00613,18811,22410,85811,48514,569
Noncurrent Liabilities
Long-term debt and lease obligation5,4125,5585,7306,0036,1806,359
Long-term debt, excluding current maturities5,4125,5585,7305,9486,1056,261
Liabilities, other than long-term debt4,8384,5964,3044,4924,5543,885
Deferred revenue2,6332,4752,1742,5392,5981,925
Deferred income tax liabilities2,1812,0872,0851,9531,9561,960
Operating lease, liability243445557598
Total noncurrent liabilities:10,25010,15410,03410,49510,73410,244
Total liabilities:23,25623,34221,25821,35322,21924,813
Equity
Equity, attributable to parent, including:32,46133,15733,05532,92432,79331,757
Common stock535353535353
Treasury stock, value (102)(102)(102)(102)(102)(102)
Additional paid in capital7,6117,5257,4407,3137,1877,061
Retained earnings24,89925,68125,66425,66025,65524,745
Other undisclosed equity, attributable to parent      
Total equity:32,46133,15733,05532,92432,79331,757
TOTAL LIABILITIES AND EQUITY:55,71756,49954,31354,27755,01256,570

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues14,69812,84214,48711,95613,25310,435
Revenue from related parties 11,956  
Cost of revenue(12,912)(10,676)(11,979)(9,874)(10,023)(8,787)
Cost of goods and services sold(12,912)(10,676)(11,979)(9,874)  
Gross profit:1,7862,1662,5082,0823,2301,648
Operating expenses(2,767)(2,112)(2,582)(2,078)(2,134)(1,821)
Operating income (loss):(981)54(74)41,096(173)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
8949(33)(11) 20
Interest and debt expense(64)(64)(73)(69)(71)(48)
Other undisclosed income from continuing operations before equity method investments, income taxes     19242
Income (loss) from continuing operations before equity method investments, income taxes:(956)39(180)(76)1,217(159)
Other undisclosed income from continuing operations before income taxes64647369  
Income (loss) from continuing operations before income taxes:(892)103(107)(7)1,217(159)
Income tax expense (benefit)110(23)11112(307)(40)
Income (loss) from continuing operations:(782)8045910(199)
Income (loss) before gain (loss) on sale of properties:5910(199)
Other undisclosed net income (loss)  (160)1,592  318
Net income (loss):(782)(80)1,5965910119
Other undisclosed net income (loss) attributable to parent  160(1,592)  (238)
Net income (loss) available to common stockholders, diluted:(782)8045910(119)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(782)(80)1,5965910119
Comprehensive income (loss), net of tax, attributable to parent:(782)(80)1,5965910119

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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