Smith-midland Corporation · NASDAQ:SMID
Smith-midland — Investor Presentation (June 2024)
17 slides from Smith-midland's investor presentation, June 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: SMID JUNE 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement These slides and the accompanying oral presentation contain This presentation may contain forward-looking statements about Smith-Midland forward-looking statements. All statements other than statements of Corporation within the meaning of the Securities Act of 1933, the Securit
Slide 3: Safe Harbor Statement: Non-GAAP Financial Measures
Safe Harbor Statement Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP) the Company uses EBITDA as a non-GAAP financial measure. The presentation of this financial infor
Slide 4: Smith-Midland at a Glance
Smith-Midland at a Glance Founded SMID 1960 (Nasdaq) Headquartered in Midland, Virginia $33.42 $176M Share Price* Market Cap * As of 06/06/24 LEADER INNOVATIVE THREE $59.6M $60.8M In Highway & Commercial Production Facilities Infrastructure Products Construction Building Servicing NY to FL Products
Slide 5: Investment Highlights
Investment Highlights Most widely used highway safety barrier Leading precast concrete manufacturer connection in the U.S. Patented products include J-J Hooks and EASI-SET Approved in 42 states, mandated replacement in 2030 Growing licensee base expanding Strategic shift to barrier rental model geog
Slide 6: Proprietary Products
Proprietary Products JJ-Hook SlenderWall Highway Barriers Cladding System Easi-Set SoftSound Concrete Buildings Absorptive Noise Wall smithmidland.com | Investor Presentation November 2023 6
Slide 7: Customized Products
Customized Products Decorative Security Military Training smithmidland.com | Investor Presentation November 2023 7
Slide 8: Strategically Located Manufacturing Plants
Strategically Located Manufacturing Plants VIRGINIA 45 acres, 59K sf (Midland) reaches NY to NC/WV NORTH 46 acres, 15K sf CAROLINA reaches NC to TN/KY (Reidsville) *New in 2020, double capacity from prior plant SOUTH 39 acres, 29K sf CAROLINA reaches NC to FL/AL (Columbia) smithmidland.com | Investo
Slide 9: Concrete Safety Barrier Rental Division
Concrete Safety Barrier Rental Division Construction, Highway, & Event Security 250K linear feet fleet Expansion to 575K linear feet Estimated cost $5 million Shift to barrier rentals vs sales Higher margins of 25-35% Recurring revenues Stability of earnings and income Improved cash-flow cycle smith
Slide 10: Expanded Geographic Reach through Licensing
Expanded Geographic Reach through Licensing 75 Licenses Award-Winning Products 6% Royalty smithmidland.com | Investor Presentation November 2023 10
Slide 11: Infrastructure Spend Tailwinds Benefit Smith-Midland
Infrastructure Spend Tailwinds Benefit Smith-Midland • New MASH TL3 standard - all U.S. highway barrier mandated replacement over the next 4-6 years • J-J Hooks approved in California– 2nd most highway miles in U.S. • Low-profile barrier offers lower cost and easier installation • Accelerated spend
Slide 12: Trends Favoring Off-Site Precast Modular Construction
Trends Favoring Off-Site Precast Modular Construction • Macro trend to off-site modular construction • Shortened lead times • Reduced subcontractors • Minimization of carrying costs • Increased quality • Speed of installation • Aging construction workforce • Developer saves Time & Money • Less labor
Slide 13: Annual Revenue, Backlog
Annual Revenue, Backlog REVENUE BACKLOG (in millions) (in millions) $65.0 $70.0 $60.8 $59.6 $60.0 $60.0 $52.4 $50.0 Millions Millions $55.0 $50.6 $50.1 $40.0 $50.0 $30.9 $29.0 $46.7 $30.0 $45.0 $43.9 $19.6 $20.0 $40.0 $10.0 $35.0 $0.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 smithmidland.co
Slide 14: Earnings per Share & EBITDA
Earnings per Share & EBITDA Earnings per Share EBITDA $1.60 (in millions) $1.45 $14.0 $1.40 $11.9 $12.0 $1.20 $10.0 $1.00 $8.0 $0.80 $6.4 $0.60 $0.51 $6.0 $4.4 $4.1 $4.0 $0.38 $4.0 $0.40 $0.20 $0.15 $0.15 $2.0 $0.00 $0.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 smithmidland.com | Investor P
Slide 15: 1Q24 Summary
1Q24 Summary • Revenue increased 28 percent to $16.4 million • Product sales increased 26 percent; service revenue increased 30 percent • Operating income of $1.2 million compared to $54,000 in prior-year quarter • Net income of $1.1 million ($0.21 per diluted share vs $0.02 in 1Q23) smithmidland.co
Slide 16: Appendix
APPENDIX 540-439-3266 [email protected] www.SmithMidland.com
Slide 17: Balance Sheet
Balance Sheet December 31, December 31, ASSETS 2023 2022 Current assets Cash $ 9,175 $ 6,726 Other current assets 24,150 22214 Total current assets 33,325 28,940 Property and equipment, net 27,680 25,124 Other assets 343 249 Total assets $ 61,348 $ 54,313 LIABILITIES AND STOCKHOLDERS’ EQUITY Current