Good morning. Our next presenting company is Smith-Midland, trades on the NASDAQ under the symbol SMID. Leading player in the precast concrete space. Ashley has a couple things to demo here for you on how their barriers work. Here to lead off the presentation today, Ashley Smith, CEO. With him is Dominic Hunter, the company CFO. Smith-Midland's a client of Three Part. If you have any questions after the presentation, you can catch Ashley and Dominic on the way out or at lunch, which we'll be doing right after this. Or feel free to catch me in the hallway and we're happy to set something up when we all get back home. Ashley? All right. Thanks, John. Thanks, everybody for being here. Can you all hear me okay? Yeah, thanks for being here. I wanted to start out, this is a replica of a concrete barrier. As John was saying, concrete barriers, concrete products are a big part of our business. The one thing to take away today, all the concrete barriers across the country are in the process of being replaced. I'll talk about that tailwind and what it means to us and our business as we go through the presentation. I'm the third-generation family member to run the company. Our company was started by my grandfather on his family farm in 1960. My dad came in right after that. I've been in the business full-time for over 40 years, but part-time 10 or 15 years before that. We manufacture precast concrete products that are proprietary to us. We also make generic precast concrete products. The products that you see on the screen are our proprietary products, and they are number one in each one of their categories. The concrete barrier that you see is branded J-J Hooks. That's the number one private brand of barrier in the country. The top middle is our Easi-Set, Easi-Span utility product. The bottom left is our SoftSound. SlenderWall, which is a Class A lightweight precast concrete panel systems that we make and install. Then over on the right are products that we've been making. They're having a renaissance because of the data center market, which we'll talk a little more about. Please read the Safe Harbor statement. At a glance, we have proprietary patented precast products. On the J-J Hooks end of the business, our proprietary information includes trademarks, trade dress, patents, crash test, Federal Highway approval, state approvals. Then the Easi-Set, Easi-Span building is the number one small building across the country. We have patents and trademarks around that. All of our patented products do have multiple types of proprietary protection. Revenue, we had our best year ever last year, $93 million. We're on track to hit that again. Market cap is around $145 million. Our backlog is $57.4 million, which is up, and Dominic will talk a little more about that. Besides our proprietary products, we also manufacture specialty products. You can see military security decorative. There's a lot of work. The project on the left, the decorative, that is a security wall around an electric substation. As you know, they are susceptible to terrorist attacks, so there is a big demand nowadays to harden. We have a good relationship with Dominion Power in Virginia. We are talking to them about protecting their infrastructure. Besides producing precast concrete products at all three of our factories in Virginia, Maryland, and D.C., Concrete Safety Systems is a barrier rental division that we started in the late 1970s. For the first 35 years, we only had about 50,000 ft, about 10 mi of rental barrier in our fleet. Starting five or six years ago, we aggressively increased the amount of barrier in our rental fleet. We have gotten up to about 50 mi of barrier. We doubled that about four years ago. We bought about 50 mi of barrier back from one of our customers that we had sold it to on a big project in Northern Virginia. When we sold the project, we wrote into the contract that we would buy it back at the end of the job. When that job was over, we bought that 50 mi back. We went from 50 mi- 100 mi of inventory. Over the past four or five years, we have been adding through manufacturing new barrier at our own factories. Right now we have about 150 mi of barrier for rent. The reason we did that is before we were probably a little conservative. We did not have the cash. That is why we never had more than about 50,000 ft of barrier. We saw a rental model in Pennsylvania. There was a rental company in South Carolina. We had that opening. We had already been doing it, so we had the cash. That is why we have aggressively increased that part of the business. Also, about three or four years ago, we started adding crash cushions, also known as attenuators, to our rental fleet. Now we have about 500 of these crash cushions, which would be attached to the end of a run of barrier. They are made out of steel, so when a car hits it does not run into the end of the barrier. It hits this cushion. The cushion absorbs the energy. That has been a nice growing part of the rental business. Also, a very good return on capital. If you look at the rental business, we have installation. When we take a project, we install the barrier. We pick it up if it needs to be moved during the life of the project. We also provide that service. That part of the business, we like it because it is recurring revenue. The returns are very good. We also like the cash flow. Once we put the barrier out on the project, we get all of the money. We get the money for the life of the rental, the return freight, the return installation. We use that to reinvest in the company. I kind of joke we are the kind of Warren Buffett insurance precast division. We take that cash and reinvest it in the business. It also helps as we are building new barrier inventory out. It helps to pay for that investment as well. We also provide licensing. Our products are good enough that people that make precast concrete around North America, Canada, pay us to make our products. We typically get a 6% royalty fee. That is growing. Back to the barrier, it is driving. There is a big tailwind. I started off by saying all the barriers being replaced across the country. We are probably in the second or third inning of all the barrier being replaced. It is a federal mandate because about every 15 years, Federal Highway Administration comes out with higher crash test level on all roadside safety features. The date was 2020. Each state gets to decide when the old barrier has to go off and the new barrier comes on. Right now, we are starting to see more and more states say it is time for you to change to the new barrier. When we develop a barrier, we can produce it at our two factories, South Carolina, North Carolina. We can rent it. Our Virginia plant, we only rent barrier. Delaware, Maryland, Virginia, we only sell it down South because of our competitor down there that rents the barrier. We have a lot of contractors doing business, South Carolina and North Carolina, that want to buy it. In Virginia, we do not even quote sale. We only quote rental, because that is the way we are moving the business, is toward that rental model. We license the technology, and across the country, there is more demand as each state is adopting the new MASH standards. For example, the state of California, their deadline is that is used has to be the new MASH-tested barrier. Our licensee in California has been ramping up production. They are the largest independent precaster in the state. They have multiple plants, but right now they are making our J-J Hooks in Northern California plant, and one in Southern California, and also in Reno, Nevada. That is driving our rental across the country. We make the barrier. We sell it. We rent it. We have a new design that we have crash tested. We are designing right now. It is what we call Limited Deflection Barrier, and we believe that this barrier design is going to be good enough that we will capture 80%-90% of the market. The product that we are competing against, our product will be about 80% less expensive to put in the field, labor, material to put in the field. We are excited about that. We are in development as we speak. Also, once we get that new product developed, we will be able to rent it, be able to make it, and then be able to put it into our royalty program. A lot of different tailwinds, a lot of different revenue streams. Another big tailwind, probably one of the biggest, is the infrastructure spend tailwind. Everybody has heard about the infrastructure needs of the country, and the nice thing in Washington, typically both sides of the aisle, Democrats and Republicans, can all agree, and there is never a big fight, kind of like on the farm bill. That usually passes. Infrastructure passes. Even if they do not have a big bill, they would do a continuing, so there is always money there for infrastructure. My theory is every congressman has a ready-mix plant or a precast plant or an asphalt plant in their backyard, so there is always somebody knocking on their door saying, "Get that bill passed." Right now in Congress, the big infrastructure bill that was passed by the last administration is coming to an end this September. About 40% of that money still has to be spent. What's happening in Congress right now is that a new bill, a new infrastructure bill, is being crafted. What we've heard is that the last bill had a lot of money for green projects. We've heard that the money in the new bill directly tied to highways, roads, bridges, is going to be even more than what was in the last bill. The last bill had the most money for our industry that we've ever had. This one's supposedly even bigger. The need is there. The funding is there at a federal level. There's obviously a lot of funding for all types of infrastructure. States are spending a lot of money on water quality, and there's a lot of money in all of the different sectors that we produce products for. If you look at the next to the last quote, this was in Larry Fink's letter to his shareholders in 2025. He said, "Between 2025 and 2040, the global demand for new infrastructure investment is $68 trillion." That's equivalent to I'm not used to saying trillion dollars, but that's equivalent to building the entire interstate highway system and the transcontinental railroad start to finish every six weeks for the next 15 years. That's the tailwind in infrastructure, and that benefits all sectors of our business. Right now, our SlenderWall panel system, we have projects in the hopper. That's either we've just signed a couple of contracts, and the rest we're working with the architects and developers to draw our panel system onto the building. We've never had that many SlenderWall projects in the hopper at one time. I was talking to my sales guy the other day, and I said, "What do you attribute that to?" He said, "Well, number one, I'm a great salesman." I said, "Well, yeah, taking that away, what do you think is really going on?" We've been talking about off-site panelized construction for 20 years now. What it seems like we're seeing is we're seeing developers, architects, contractors, instead of thinking about panelization as an afterthought to save money or save time, they're thinking about it upfront and making the decision to use panels on this job from the very beginning to save time, save money, and there's not enough workers. That's one of the reason that home construction is down. There's not enough workers to build. That plus the higher interest rates. But for commercial construction, the average age of a construction worker is getting older. There's not a lot of new people. It's not sexy. It's not like investment like you guys do where the young people want to come in. The problem is there's not enough workers to get everything built. Panelization finally seems like that's coming around. We're seeing a lot more of that demand. I'm going to ask Dominic to talk about special barrier projects. If you compare where we've been in 2026- 2025 was our best year ever. We had several large special barrier projects which come along infrequently. They're not something that happens all the time. Dominic's going to talk a little bit about this and why the comparison between 2026 and 2025 is the way it is. Thank you, Ashley. Good morning. We wanted to pull the thread a little bit on special barrier projects. It's getting a lot of play. Last year at this time, we talked about special barrier projects that we had last year, and the impact, very positive to our numbers in 2025, both top line and bottom line. These projects are, you almost think of them as concierge security services wrapped around providing barrier for security events. They are barrier rentals, but they really come with a layer of services. We like to say white glove, 24/7 concierge services. These barrier projects come with very short time frames. You could get a call on a Wednesday and need to have that project deployed with 15 people at a particular event within a week or two. In the very nature of them, they are "lumpy." It's not business you turn away, and it's really a testament to the company's longevity of building of a cadre of security, I'll say, barrier security team that can deploy and be very agile in providing these projects. We tend to not break them out for competitive reasons, but they had a significant impact on our Q1 and Q2 revenues and profitability last year. In comparison, for Q1 and Q2 of 2026, if you look at that line, it doesn't compare because it's a bit of apples and oranges. But we are very, very positive about the trajectory of the core business, our core rental business, our core product business, our core royalty business, and all the other aspects of the company are very positive. We have a strong event calendar for special barrier projects for this year. Nothing to connect with last year or at that level of Q1 and Q2 of last year. Certain projects, without saying what they are, could happen every four years, whatever those projects may be. Those projects, they can come and go. You can look for things that are close to that. But I will say, and I've said it before, they were very unique and significant last year, and analysts should look at them as a testament to the company's success. Ultimately, we expect more projects, but last year was significant. As we move into the strength of the company and where we are as a company, backlog is up $57.4 million trailing. We reported in our last 10-Q for the second quarter of 2026. It was 19% over Q1 backlog, and we're seeing a lot of growth there. Our target is to double our backlog to about $100 million, and we're putting resources around sales and marketing in that regard. The other item we want to call out in this slide is that the backlog has several elements to our business that aren't really captured in the backlog. Just for those who are thinking of backlog, we define backlog as signed contracts that are being executed. Our rate of contracts being rescinded is extremely low. I couldn't find anything that would show me that most of the contracts that we sign, we execute. It was like less than a percent. Barrier rentals, you have some barrier rentals that are quick hits. You get a call on a Monday, and you have to execute that within the week or within two weeks. Backlog is a snapshot at a period of time. There are tons of things that occur that never get into the backlog. Special barrier projects, again, depending on the timeline, you can get that very large dollar lucrative contract executed before the next measurement of a backlog ever comes. We also get for our products, again, very quick hit product orders where we are executing those orders within a quarter, within a month. There is probably about $5 million-$7 million that we see coming through that, again, never get captured by the backlog. The next item, we really wanted to add this additional slide here to talk about new work, where we are going forward in 2026. We did put a press release out about a $10 million award that we received for Interstate 81 in Roanoke for SoftSound and retaining wall components. This is the third-largest single contract the company has had. I will also note that this contract came after the measurement of the last backlog. The other awards that we have had may or may not have been in the backlog, but the $10 million was not in the last backlog. We have had some really good success with Sound Wall. You will see that our guidance that we give is just directional at a product line level, reflects those items that we know are high percent wins in our sales pipeline or are actually in our backlog. Next item. We talked about the special barrier projects, and obviously it has an impact on revenue and EBITDA and all the other measures when comparing our trailing 12 months to our 12 months ended December 31, 2025. For revenue, $89.5 million trailing 12 months. We think it is still very positive. It still speaks to the business, the core business, and how we are executing on our core business. $93.4 million for 2025. As we said in our 10-K, impacted in 2025 by those special barrier projects. We talk about the earnings per share and EBITDA. Again, same thing, the big impact. You had a great year in 2025. We are still in line and moving forward, still reflecting the core business. $1.46 for trailing 12 months for this year. This slide kind of shows you the prior years. The EBITDA, $14.3 million for the trailing 12 months, again, compares very favorably with 2024. 2025, we obviously had the special barrier projects across Q1 and Q2 of 2025. The outlook. Again, we talk about backlog. We talk about new contract wins. We are expecting a higher trend on Sound Wall. Ashley mentioned the tailwinds we are seeing with the Department of Transportation, the infrastructure bill. We are seeing it play out in more orders for Sound Wall across the region, the market that we service. SlenderWall has been the most activity in the company's history we are seeing here in the first six months for SlenderWall, and we are projecting that forward for contracts that are in the hopper for 2026. Easi-Span, same thing, very positive momentum in those areas. We can talk a little bit about utility vaults. You know we are in Northern Virginia. Northern Virginia is, I believe, it depends on what you are reading, but I think 80% of the data centers, the traffic for the internet are coming through our region. It is the region that we service. Utility vaults were booming in 2024. We saw revenue kind of go down in 2025 compared to 2024. I can say for 2026, we've already surpassed our projections mid-year for our annual revenue for utility vaults. We think this year will be very positive and higher, of course, than 2025. Barrier rentals, not including special barrier projects. The core business is doing very well. We've got 850,000 linear feet of barrier in our inventory. We're seeing progress on rentals and continue to press, especially in the area we serve, Northern Virginia, Maryland, Delaware on barrier rentals. We did see an uptick in barrier sales in the Carolinas. Part of our strategy is we do not market barrier sales, we market the rentals. On the royalty revenue, the item that we're very positive about is [audio distortion] We have licensees in California, and they put a date out for the MASH barrier conversion, January 1 of 2027. We know that those producers, and we're already seeing the momentum of those producers increasing their royalties as their production and sales go up in that region. We have some other areas where we're thinking it's going to either be consistent with last year or products where it's going to be a little lower. The strength of the company is the diversification in our product mix. We're very positive about the increase that we're going to see in the items I've listed, and we think that they'll more than offset some of the decreases in some of the other products. The only other thing I just wanted to note here before turning it back over to Ashley. The other outlook for 2026, some of the items that we're going to really focus on, margin improvement. We notice in Q1 and Q2, some of the areas where our margins were a little lower, some of it project execution. Obviously, it would not compare to higher margin barrier rental, special barrier projects. But when you strip that out and look at the core business, we believe there's some areas where we can improve margin around lean manufacturing, cost controls, and we're going to be laser focused on that for the remainder of the year to address that area. Internal control is another area that we're going to laser focus on. [audio distortion] has impacted us, and we're going to be fully staffed going into September. We're very positive about that and our ability to address deficiencies in internal control that have seemed to have persisted for the last year. Overall, we're very positive outlook for the business. We know that'll translate into better share price here eventually, but the core business is strong, and we're excited for the future. I'm going to turn it back over to Ashley. Okay, I'm going to give you the investment thesis in one minute. Let me reduce it to its essentials. Smith-Midland is a small company operating in large and growing markets. It has proprietary products. We have intellectual property. We're also continually developing new products and services. We have manufacturing capability. We have a growing rental fleet of safety barrier and crash cushions. We have royalty income. We have installation revenue. We have exposure to infrastructure. We have exposure to transportation safety. We have exposure to utilities and data centers. We're participating in the broader shift towards prefabricated construction. We don't need every opportunity to succeed. We only need several of them to succeed at the same time. If that happens, we expect the earning power of the business could be materially higher than current reported earnings suggest. I've said this the past couple presentations. I've been in business over 40 years full time. All of the things we've been putting into place, all of the tailwinds, I've never seen this convergence of tailwinds and the businesses and the different income streams come together as they are right now. Like Dominic said, we're excited about the future. We've got a lot of great things going on. It's fun to come to work every day. We've got a lot of good things. There's always challenges, but we're very blessed and very excited about the future. With that, I'll open it up for questions. [inaudible] We did invest quite a bit over the past year and expanded in fleet. Right now, we're around 80% utilization of the capacity. We had to make it ourselves this last time. The second 50% of the barriers, second 50 mi, we bought that back at the end of the job. We really didn't pay much for that. Overall, blended, we're looking at probably about a three and half year return on the investment of the barrier. Yeah. If we're setting it does. We're a lot better. [inaudible] Yeah. I would say it would follow population. Upper Midwest, obviously, there's not a lot, but places where it's growing a lot like Nashville, they have a public-private partnership. It's, I think, a $4 billion project south of Nashville. Texas is doing a lot. The South and East, wherever population is growing, you're seeing a lot. California, obviously, is doing a lot. Wherever the population is where you're seeing a lot of growth. [inaudible] They're not. Now, we have of our 150 mi, probably about 40 mi of that is the old style. We can still rent that in Virginia through 2030. We can rent it on private projects. If it gets beat up bad enough, we can actually sell it as used barrier. With the special security projects that we perform, we do use it for that. Most people, most places couldn't do anything with it. We have several different ways that we can still monetize a barrier after it can't be used on the highway anymore. We're not right at this point, but we could probably do that. In Virginia, we have another 30 acres. We're actually taking a site plan to our county to get it approved for future storage growth, and then we could build another large plant on that in the future. We also have excess property at the other two Carolina plants. [inaudible] I'm not sure the name of the project. But yeah, our customer took us from Virginia down there with them because they wanted to make sure they had a supplier that could perform. If they keep doing work, hopefully we'll get some more work down there. It'll take a while. We still have to pass. We failed the first crash test. We've gone back, we've tweaked the design, so we're going to run the next crash test. We have to get federal approval, state approval, so it'll be a little while. But yeah. Is that it? It is. All right. Thanks, everybody.