Shimmick Corp

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Shimmick Corp settles legacy claim, eyes growth in water projects

Shimmick Corp navigated financial challenges in Q2 2024 with a net loss and low gross margins. However, settlement of a legacy project claim boosted liquidity. The company is strategically focusing on water-related projects to drive growth and improve margins, with optimism for future cash flow trends.

Shimmick Corp settles GGB claim, appoints new CEO amidst challenges

Shimmick Corp's Q3 2024 performance reflected mixed results with revenue growth but a net loss, impacted by one-time expenses.
The company faces challenges in managing costs, maintaining profitability, and sustaining revenue growth in the face of settlements.
However, the leadership transition, strong backlog, and strategic focus on transformation provide a foundation for future success.
To capitalize on opportunities, Shimmick Corp must prioritize operational efficiency, innovation, and strategic diversification.

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Shimmick Corp. engages in the provision of water and other critical infrastructure solutions. The company was founded in 1990 and is headquartered in Irvine, CA.

IRVINE, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Shimmick Construction Company, Inc. (“Shimmick”), a leader in critical infrastructure, water, and transit solutions, announced today that it has been awarded a key role in the North Hollywood to Pasadena Bus Rapid Transit (BRT) Project by Los Angeles Metropolitan Transportation Authority (LA Metro). Shimmick, with our partner Myers and Sons, as part of the Myers-Shimmick Joint Venture (MSJV), will serve as the Construction Manager/General Contractor (CM/GC) for the project's preconstruction services phase.

Shimmick Awarded Contract for North Hollywood to Pasadena Bus Rapid Transit Project

IRVINE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Shimmick Construction Company, Inc. (“Shimmick”) (Nasdaq:SHIM), a leading water and critical infrastructure builder, today announce that it has been awarded a $45.4 million contract to complete extensive seismic retrofitting and improvements to the Murray Street Bridge at the Santa Cruz Small Craft Harbor. The project will improve the bridge's seismic resilience while enhancing accessibility for cyclists and pedestrians.

Shimmick Awarded $45.4M Murray Street Bridge Project in Santa Cruz

Shimmick Corporation (SHIM) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of a loss of $0.38 per share. This compares to earnings of $1.67 per share a year ago.

Shimmick Corporation (SHIM) Beats Q3 Earnings and Revenue Estimates

IRVINE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Shimmick Corp. (NASDAQ: SHIM), a leading water infrastructure company, today announced financial results for the third quarter ended September 27, 2024.

Shimmick Corporation Announces Third Quarter 2024 Results

Ural Yal Appointed CEO of Shimmick Steve Richards to Retire after Distinguished 43-Year Career    IRVINE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Shimmick Corp. (NASDAQ: SHIM), a leading water infrastructure company, today announced that it has appointed Ural Yal as its new CEO and member of the Board of Directors effective December 2, 2024.

Shimmick Announces New CEO

Resolves Last Major Outstanding Claim, Updates Transformation Plan and Provides Certain Preliminary Financial Results of the Third Quarter of Fiscal 2024 Resolves Last Major Outstanding Claim, Updates Transformation Plan and Provides Certain Preliminary Financial Results of the Third Quarter of Fiscal 2024

Shimmick Reaches $97 million Golden Gate Bridge Project Settlement

IRVINE, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Shimmick Corp. (NASDAQ: SHIM), a leading water infrastructure company, today announced financial results for the second quarter ended June 28, 2024.

Shimmick Corporation Announces Second Quarter 2024 Results - Provides Update on Transformation Plan

IRVINE, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today updated their earnings call date to review its earnings results on Friday, August 16, 2024 beginning at 8:30am ET. The call had previously been scheduled for Thursday, August 15, 2024. The Company will release its second quarter 2024 results after the market close on Thursday, August 15, 2024, as originally planned.

Shimmick Corporation Announces Updated Second Quarter 2024 Earnings Conference Call Date

IRVINE, Calif., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that the company will release its second quarter 2024 results after the market close on Thursday, August 15, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

Shimmick Corporation Announces Second Quarter 2024 Earnings Release Date and Conference Call

IRVINE, Calif., July 23, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that it was once again recently named an Engineering-News Record Top 400 Contractor, ranking No. 193 with $656 million in annual revenue. Shimmick was also named a Top 50 Heavy Domestic contractor, coming in at No. 43 with $611 million in domestic heavy revenue. Notably, Shimmick has consistently maintained its position among the top 200 contractors and the top 50 domestic heavy contractors in North America since it became an independent business in 2021. The complete list of Top 400 Contractors is available on ENR's website.

Shimmick Named ENR Top 400 Contractor

IRVINE, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that it has signed a $27,583,595 subcontract for electrical work on the Sunol Valley Water Treatment Plant Ozonation project. The prime contract, valued at $234,782,000, was awarded to J.F. Shea Construction, Inc. by the San Francisco Public Utilities Commission (SFPUC) on May 14, 2024.

Shimmick Awarded $27.6 Million Subcontract for Sunol Valley Water Treatment Plant Ozonation Project

IRVINE, Calif., June 21, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced organizational changes in its finance leadership to further deliver on its transformation into a more selective and focused water infrastructure company.

Shimmick Announces New Interim CFO to Further Deliver on its Transformation into a Water Infrastructure Company

Strengthens financial position, setting up the Company for future growth and success Board expands to include new Independent Director and new Committee focused on the long-term value creation IRVINE, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that it has taken several key actions to enhance liquidity and deliver on its transformation into a water infrastructure company.

Shimmick Takes Pivotal Steps to Further Advance Evolution as Leader in Water Infrastructure

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Shimmick Corporation (“Shimmick” or the “Company”) (NASDAQ: SHIM) investors concerning the Company's possible violations of the federal securities laws. If you suffered a loss on your Shimmick investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securitie.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Shimmick Corporation (SHIM) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Shimmick Corporation (“Shimmick” or the “Company”) (NASDAQ: SHIM) investors concerning the Company's possible violations of federal securities laws. On May 13, 2024, Shimmick disclosed that it was unable to timely file its Quarterly Report for the first quarter 2024 “as a result of ongoing negotiations with the lender under the Company's Revolving Credit Facility Agreement” and that the Compan.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Shimmick Corporation (SHIM) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Shimmick Corporation (“Shimmick” or the “Company”) (NASDAQ: SHIM) on behalf of investors concerning the Company's possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On May 13, 2024, Shimmick disclosed that it was unable to timely file its Quarterly Report for the first quarter 2024 “as a result of ongoing negotiations with the lender.

The Law Offices of Frank R. Cruz Announces Investigation of Shimmick Corporation (SHIM) on Behalf of Investors

IRVINE, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Shimmick Corp. (NASDAQ: SHIM), a leading water infrastructure company, today announced financial results for the first quarter ended March 29, 2024.

Shimmick Corporation Announces First Quarter 2024 Results

IRVINE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that the company will release its first quarter 2024 results after the market close on Monday, May 13, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

Shimmick Corporation Announces First Quarter 2024 Earnings Release Date and Conference Call

Shimmick realized significant progress with 24% growth in Shimmick Projects, with gross margin of 7% Shimmick realized significant progress with 24% growth in Shimmick Projects, with gross margin of 7%

Shimmick Corporation Announces Fourth Quarter and Fiscal Year 2023 Results

IRVINE, Calif., March 26, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that the company will release its fourth quarter and fiscal year 2023 results before the market open on Thursday, March 28, 2024, to be followed by a conference call at 8:30 a.m. (Eastern Time) on the same day.

Shimmick Corporation Announces Fourth Quarter and Fiscal Year 2023 Earnings Release Date and Conference Call

Third Quarter 2023 Financial Highlights Revenue of $175 million Net income attributable to Shimmick of $35 million Diluted earnings per common share of $1.58 Adjusted net income of $37 million Adjusted diluted earnings per common share of $1.67 Adjusted EBITDA of $42 million Backlog of $1.2 billion as of September 29, 2023 IRVINE, Calif., Dec. 19, 2023 (GLOBE NEWSWIRE) -- Shimmick Corp. (Nasdaq: SHIM), a leading water infrastructure company, today reported financial results for the third quarter ended September 29, 2023.

Shimmick Corp. Announces Third Quarter 2023 Results

IRVINE, Calif., Dec. 15, 2023 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced the appointment of Joe Del Guercio to the Company's Board of Directors (the “Board”), effective on December 14, 2023.

Shimmick Corporation Appoints Joe Del Guercio to Board of Directors

IRVINE, Calif., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that the company will release its third quarter 2023 results after the market close on Tuesday, December 19, 2023, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

Shimmick Corporation Announces Third Quarter 2023 Earnings Release Date and Conference Call

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Shimmick Corp. SHIM, , a California construction company that specializes in public water infrastructure, has become the latest company to flounder in its trading debut, even after it downsized its IPO and priced below range. The company's deal priced at $7 a share on Monday, compared with a proposed price range of $10 to $12.

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