Shimmick (NASDAQ:SHIM – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), FiscalAI reports. The firm had revenue of $88.03 million during the quarter, compared to analyst estimates of $120.80 million.
Here are the key takeaways from Shimmick’s conference call:
- Shimmick reported Q1 2026 revenue of $88 million, 12% consolidated gross margin, and adjusted EBITDA of about $3 million, with Shimmick project gross margin improving to 11% from 6% a year ago.
- The company posted a record book-to-bill ratio of 2.6 and ended the quarter with $944 million in backlog, its highest level in more than two years, after booking $289 million of new awards.
- Management said the Chickamauga Lock project termination materially reduced non-core revenue, but they expect it to have limited impact on full-year guidance and said the issue is moving through the standard federal process.
- The company reaffirmed full-year 2026 guidance, still expecting 12% to 22% revenue growth and $15 million to $30 million of adjusted EBITDA as new projects ramp through the year.
- Shimmick highlighted strong demand in core markets, including water, flood protection, wastewater, and data centers, with new awards in California and Texas and continued momentum in Axia Electric and collaborative contracting models.
Shimmick Trading Up 8.2%
Shares of NASDAQ:SHIM traded up $0.38 on Thursday, reaching $5.02. The company had a trading volume of 255,361 shares, compared to its average volume of 133,031. Shimmick has a 52-week low of $1.37 and a 52-week high of $6.76. The firm’s 50 day simple moving average is $4.22 and its 200-day simple moving average is $3.47. The firm has a market capitalization of $182.23 million, a PE ratio of -6.88 and a beta of 1.27.
Analyst Upgrades and Downgrades
Insider Activity
In other news, Director Mitchell B. Goldsteen sold 125,000 shares of Shimmick stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $2.86, for a total value of $357,500.00. Following the transaction, the director directly owned 20,974,873 shares in the company, valued at approximately $59,988,136.78. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 67.10% of the company’s stock.
Shimmick Company Profile
Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.
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