Ah that post was actually referencing a different company.
On SMID though, yes they are caught in a bit of lag between meaningfully upping prices on their biggest precast selling products and having higher input cost. They're running the company a bit backwards IMO (employee raises and hiring first, raise prices later) but that's part of the process of investing in micros LOL.
They do have a widening footprint which I think will help them given the outlook heading out a few years in many of the states from Virginia down south through Georgia. But they're taking a few bumps near term that probably shouldn't have been as big if they'd been more aggressive on price point.
Guess they have a few potential rental contracts they are eying nearish term (probably the political conventions, not sure what else). Aggregate and cement prices are not going back down IMO so they should start living with passing those input costs directly onto customers and while at it realign margins to make things more comfortably profitable.
On the positive operational side, they did keep SG&A in check with the ramp up in revs so that should help revenues drop more to bottom line earnings as time goes on and as they get a little more pricing power.
The turn is happening slower than I wanted at precast level here as far as earnings and pricing given demand is strong and getting stronger IMO but it is coming.
Obviously backlog is very healthy and I believe a record at $20+ million. Would be nice to know how much overhead cost may have been involved with Hopkins but I didn't see a breakdown of that.
They're slow but they'll get there...
All IMO only.
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