Shimmick (NASDAQ:SHIM) Announces Earnings Results, Beats Expectations By $0.01 EPS

Shimmick (NASDAQ:SHIM) announced its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, FiscalAI reports. The company had revenue of $88.03 million during the quarter, compared to analysts’ expectations 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 Price Performance

Shares of NASDAQ:SHIM traded down $0.05 on Friday, reaching $4.97. The company’s stock had a trading volume of 218,918 shares, compared to its average volume of 235,027. The stock’s 50-day moving average is $4.26 and its two-hundred day moving average is $3.50. Shimmick has a 52-week low of $1.37 and a 52-week high of $6.76. The stock has a market capitalization of $180.41 million, a P/E ratio of -8.57 and a beta of 1.27.

Analysts Set New Price Targets

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

Insider Activity at Shimmick

In related news, Director Mitchell B. Goldsteen sold 125,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were 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 of the company’s stock, valued at $59,988,136.78. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.