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., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”), a leading water infrastructure company, today announced the pricing of its initial public offering of 3,575,000 shares of its common stock at a price to the public of $7 per share. Shimmick has also granted the underwriters in the offering a 30-day option to purchase up to an additional 536,250 shares at the initial public offering price, less underwriting discounts and commissions.

Shimmick Corporation Announces Pricing of Initial Public Offering

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Shimmick Corporation has filed proposed terms to raise approximately $50 million in an IPO to sell its common stock. The company provides construction services for water and related infrastructure projects in the U.S. The firm's revenue growth is slowing, and it is generating very high operating cash burn.

IPO Update: Shimmick Corporation Proposes Terms For $50 Million IPO

Shimmick Corp. SHIM, , a water treatment company, set terms for its initial public offering on Tuesday with plans to offer 4.55 million shares, priced at $10 to $12 each. The company would raise $54.6 million at the top of that range at a valuation of $318 million.

Water treatment company Shimmick to offer 4.55 million shares in IPO priced at $10 to $12 each

News for Shimmick Corp Stock (SHIM)