Filing Flows › Smith Midland (SMID) › Q2 2026
Smith Midland (SMID) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 14, 2026
Smith Midland (SMID) reported revenue of $23.4M for the second quarter 2026 (Q2 2026), -11% from a year earlier and +8% from the quarter before. Operating margin was 8.5%, net earnings $1.4M (5.9% of revenue).
Smith Midland, Q2 2026: revenue $23.4M (-11% year over year), operating margin 8.5%, net earnings $1.4M, operating cash flow −$485K. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.4M | +8% | -11% |
| Gross profit | $5.4M | +26% | -30% |
| Operating profit | $2.0M | +15% | -64% |
| Net earnings | $1.4M | +3% | -67% |
| Operating cash flow | −$485K | -115% | -365% |
What changed
Revenue was $23.4M in Q2 2026, down 11% year over year and up 8% from the previous quarter. Service Revenue was the largest line at 52% of revenue. Revenue Recognized for Product Sales - Over Time lost $4.1M year over year (down 49%), 145% of the total change.
Gross margin was 23.2%, down 6.5 points from Q2 2025. Operating profit was $2.0M, a 8.5% margin (down 12.6 points year over year). Operating expenses grew 51% against a revenue fall of 11%. The fastest-growing cost line was General & admin (+64%). Net earnings were $1.4M, down 67% year over year. The effective tax rate was 23.9%.
Operating cash flow was −$485K. Non-cash charges added back $1.0M of depreciation and amortization. Working capital and other items used $2.9M. Capital expenditures of $1.9M exceeded it, leaving free cash flow of −$2.4M.
Questions
What was Smith Midland's revenue in the second quarter 2026?
Smith Midland (SMID) reported revenue of $23.4M for the second quarter 2026 (Q2 2026), -11% from a year earlier and +8% from the quarter before.
Was Smith Midland profitable in the second quarter 2026?
Operating profit was $2.0M (8.5% of revenue) and net earnings $1.4M.
Source: Smith Midland 10-Q on SEC EDGAR.