Shimmick (NASDAQ:SHIM) Posts Earnings Results

Shimmick (NASDAQ:SHIM) announced its earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, FiscalAI reports. The business had revenue of $88.03 million during the quarter, compared to analyst estimates of $116.80 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 Down 1.0%

SHIM traded down $0.05 during trading on Friday, reaching $4.97. 218,918 shares of the company were exchanged, compared to its average volume of 235,027. The stock has a market cap of $180.41 million, a P/E ratio of -8.57 and a beta of 1.27. The firm has a 50 day moving average of $4.26 and a 200 day moving average of $3.50. Shimmick has a 52 week low of $1.37 and a 52 week high of $6.76.

Wall Street Analysts Forecast Growth

SHIM has been the topic of a number of recent analyst reports. Wall Street Zen raised Shimmick to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shimmick in a research report on Friday, March 27th. Finally, Roth Mkm raised Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

Insider Buying and Selling

In related news, Director Mitchell B. Goldsteen sold 125,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $2.86, for a total transaction of $357,500.00. Following the completion of the transaction, the director directly owned 20,974,873 shares in the company, valued at $59,988,136.78. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 67.10% of the stock is currently owned by insiders.

About Shimmick

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.