Smith-Midland Q2 FY26 net income drops 66.67% to $1.4 million; revenue falls 10.69% to $23.4 million
SMID•Q2 results
Smith-Midland posted Q2 2026 revenue of $23.4 million, down 10.69% year over year.
Net income fell to $1.4 million, or $0.26 per diluted share, from $4.2 million and $0.79.
Gross margin narrowed 6.5 percentage points to 23.2%, due to a higher-margin special barrier rental project in Q2 2025.
Backlog and new awards
Backlog rose to $57.4 million as of Aug. 1, up 19% from the prior quarter.
Post-quarter awards included a $10 million I-81 contract, a $1.7 million Louisiana data center project, and nearly $1 million in Virginia utility vaults.
