This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Balfour Beatty, the London-based construction giant and a leading infrastructure builder in the U.S., has a new CEO. Following the March announcement that former CEO Leo Quinn would step down, the company completed its transition and elevated Philip Hoare to the new group chief executive role, according to a Sept. 8 news release.  Hoare, a civil engineer by ...

The Vietnamese dong, already at record lows, is facing mounting pressure from the government’s infrastructure spending spree https://t.co/JljfDKRUZx ...

Core Insights - Smith-Midland Corporation (SMID) reported a strong second quarter for 2025, with revenues reaching $26.2 million, a 33% increase from $19.6 million in the same quarter of the previous year [2] - Net income more than doubled to $4.2 million, or 79 cents per diluted share, compared to $2 million, or 37 cents per share, in Q2 2024 [2] - The company’s stock has outperformed the S&P 500 index, rising 16.3% in the past month compared to the S&P 500's 2.5% growth [1] Revenue Breakdown - Product sales totaled $13.4 million, slightly above last year's $13.1 million, with soundwall sales more than doubling to $5.2 million [3] - Service revenues increased significantly to $12.8 million from $6.5 million, driven by barrier rentals growing to $5.8 million [4] - Royalty income rose 53% year over year to $1.3 million, supported by higher licensee production volumes [4] Management Commentary - CEO Ashley Smith described the quarter as a "new quarterly revenue record," highlighting increased demand across product lines and support from infrastructure spending initiatives [5] - Management expressed optimism regarding both near and long-term prospects, emphasizing confidence in delivering shareholder value [5] Factors Influencing Performance - The surge in revenues and earnings was attributed to special barrier projects, which carry higher margins [6] - The company’s focus on expanding its barrier rental fleet has shifted its revenue mix toward higher-margin recurring rental income [6] - Cost of sales as a percentage of revenues decreased to 72% from 77% a year earlier [6] Future Guidance - The company cautioned that two special barrier rental projects completed in the first half of 2025 are not expected to recur in the second half [8] - Smith-Midland is expanding its barrier rental inventory through 2025 and 2026 to meet anticipated demand, with a backlog of $54 million as of August 2025 [8] Financial Position - The company ended the quarter with $7.1 million in cash, down from $7.5 million at the end of 2024 [9] - Accounts receivable rose to $31.5 million, reflecting a higher volume of billed projects [9] - Total debt stood at $4.8 million, indicating a relatively conservative balance sheet [9]

Core Insights - The iShares U.S. Transportation ETF (BATS: IYT) is highlighted as a favorable investment option due to anticipated steady growth in the U.S. economy, significant infrastructure spending, and advancements in new technologies [1]. Industry Summary - The transportation industry is expected to benefit from the U.S. economic growth and increased investments in infrastructure and technology [1].

Caterpillar Inc. (CAT) and Deere & Company (DE) are two of the world’s leading heavy equipment manufacturers. Caterpillar, widely recognized by its signature yellow machines, manufactures construction and mining equipment serving a variety of sectors like infrastructure, construction, mining, oil and gas, and transportation. Deere, known for its iconic green tractors, specializes in agricultural, forestry and turf equipment, with a strong presence in precision farming technology and construction equipment.  ...