Shimmick Corporation (SHIM)

Shimmick Corp. announced its financial results for the fourth quarter and fiscal year ended January 2, 2026, on March 12, 2026, expecting revenue from "Shimmick Projects" to increase by 10% to 15% for fiscal year 2025, with an overall gross margin between 9% and 12%. The company provided consolidated earnings guidance for the full year 2026, expecting consolidated revenue in the range of $550 million to $600 million. On May 7, 2026, it was announced that the common stock would continue to trade under the symbol "SHIM". In November 2024, Shimmick Corp. announced the appointment of Ural Yal as its new CEO, effective December 2, 2024.

Shimmick's revenue is largely derived from long-term public-sector construction contracts, with approximately 80% of its revenue coming from government-funded projects. The company's shift towards water infrastructure and its focus on projects tied to the Infrastructure Investment and Jobs Act suggest a relatively stable demand. The company's backlog near $1.3 billion provides 24–36 months of revenue visibility. The strong demand for their services in the market, particularly in their electrical business, is expected to contribute to strong backlog and revenue growth in 2026.

Shimmick Corporation is a leading provider of turnkey infrastructure solutions in the United States, focusing on water, energy, climate resiliency, and sustainable transportation. The company specializes in infrastructure projects, including water and wastewater treatment, water supply, hydroelectric power generation, and flood control. Shimmick also contributes to the energy transition through projects like EV infrastructure, battery storage, and renewable solutions. The company is involved in high-tech construction, including hyperscale facilities, and other critical infrastructure projects such as mass transit, bridges, and military infrastructure. Shimmick was founded in 1990 and is headquartered in Irvine, California.

Shimmick Corporation serves select markets nationwide across the United States, maintaining a strong presence in its core Western United States region. Approximately 60% of its active projects are located in California. Shimmick is also targeting expansion in the Southeast, notably Florida, due to demand for coastal water management.

Shimmick is recognized as a nationally recognized leader in infrastructure solutions. In 2023, Engineering News-Record nationally ranked Shimmick among the top ten builders in water supply, dams and reservoirs, and water treatment and desalination plants. The company emphasizes its engineering heritage, entrepreneurial spirit, advanced technical capabilities, and collaborative delivery methods. Shimmick also highlights an unwavering commitment to safety, quality, and innovation. The company's focus on technically complex water and transit projects, leveraging federal IIJA funds, has helped build a backlog above $1.2 billion. Shimmick's Experience Modification Rate (EMR) consistently below 1.0 enhances its eligibility for high-stakes public utility contracts.

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