Filing Flows › Smith Midland (SMID) › Q4 2024
Smith Midland (SMID) Q4 2024 earnings results (fourth quarter 2024)
10-K filed May 27, 2025
Smith Midland (SMID) reported revenue of $18.5M for the fourth quarter 2024 (Q4 2024), +13% from a year earlier and -21% from the quarter before. Operating margin was 10.1%, net earnings $1.4M (7.5% of revenue).
Smith Midland, Q4 2024: revenue $18.5M (+13% year over year), operating margin 10.1%, net earnings $1.4M, operating cash flow −$2.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.5M | -21% | +13% |
| Gross profit | $4.4M | -33% | +40% |
| Operating profit | $1.9M | -51% | +245% |
| Net earnings | $1.4M | -56% | +507% |
| Operating cash flow | −$2.6M | — | — |
What changed
Revenue was $18.5M in Q4 2024, up 13% year over year and down 21% from the previous quarter. Product Sales was the largest line at 59% of revenue.
Gross margin was 23.7%, up 4.6 points from a year earlier. Operating profit was $1.9M, a 10.1% margin (up 6.8 points year over year). Of the extra revenue versus a year earlier, 62% reached operating profit, above the 3% margin then. Operating expenses fell 2% while revenue rose 13%. Net earnings were $1.4M, up 507% year over year. The effective tax rate was 24.8%.
Operating cash flow was −$2.6M. Non-cash charges added back $668K of depreciation and amortization and $5K of share-based compensation. Working capital and other items used $4.6M. Capital expenditures of $660K exceeded it, leaving free cash flow of −$3.2M.
Questions
What was Smith Midland's revenue in the fourth quarter 2024?
Smith Midland (SMID) reported revenue of $18.5M for the fourth quarter 2024 (Q4 2024), +13% from a year earlier and -21% from the quarter before.
Was Smith Midland profitable in the fourth quarter 2024?
Operating profit was $1.9M (10.1% of revenue) and net earnings $1.4M.
Source: Smith Midland 10-K on SEC EDGAR.