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SHIMMICK CORPORATION - SHIM STOCK NEWS

Welcome to our dedicated page for SHIMMICK CORPORATION news (Ticker: SHIM), a resource for investors and traders seeking the latest updates and insights on SHIMMICK CORPORATION stock.

Company Overview

Shimmick Corporation (NASDAQ: SHIM) is an established provider of sophisticated water infrastructure solutions and other critical infrastructure services across the United States. With decades of specialized experience, the company has built a strong reputation by delivering robust water treatment systems, strategic water resource development, and a broad portfolio of infrastructure projects that include mass transit, bridge construction, and other public works. Utilizing a comprehensive and integrated approach, Shimmick addresses complex challenges in water purification, storage, conveyance, and overall infrastructure renewal.

Core Business Segments

Shimmick operates across multiple business segments that are fundamental to the nation’s infrastructure and civil engineering domains. The company focuses its efforts through three primary channels:

  • Water Treatment Projects: Expanding, rehabilitating, upgrading, and constructing water and wastewater treatment facilities, including desalination plants.
  • Water Resources Projects: Building and enhancing critical water storage and conveyance systems, dams, levees, flood control mechanisms, pump stations, and coastal protection structures.
  • Other Critical Infrastructure Projects: Executing high-profile projects that involve the construction, retrofitting, expansion, and maintenance of essential infrastructure such as mass transit systems, bridges, and even elements of military infrastructure.

Water Treatment Solutions

The company is renowned for its advanced water treatment solutions designed to meet the increasing demands of urban and rural communities. Shimmick tackles some of the most challenging issues in water sustainability by focusing on modernizing treatment facilities and implementing environmentally responsible practices. Technological innovation is at the forefront of its service offerings, ensuring that water supplies are not only safe and clean but also that wastewater is properly managed and recycled through robust purification systems.

Water Resources Development

Recognizing water as a vital resource, Shimmick actively engages in projects that improve the storage, management, and conveyance of water. From dam construction to the renovation of existing levee systems, the company provides engineered solutions that address flood control, water distribution efficiency, and coastal erosion protection. By investing in resilient infrastructure, Shimmick addresses both current challenges and long-term resource sustainability, ensuring that water systems remain operational under various environmental and economic pressures.

Other Critical Infrastructure Projects

Beyond water facilities, Shimmick extends its engineering expertise to other prominent infrastructure projects. Its portfolio includes mass transit systems designed to improve urban mobility, bridges that connect communities, and specialized projects with defense and military applications. The company’s self-performing capabilities and integrated approach not only enhance quality and cost control but also ensure that projects are executed within strict timelines and regulatory frameworks. This diversified approach makes Shimmick a key player in transforming public infrastructure to meet 21st-century standards.

Expertise and Technological Excellence

At the heart of Shimmick Corporation lies a commitment to excellence in engineering, design, and project management. The company leverages its technical prowess by integrating state-of-the-art construction methodologies with advanced water purification technologies. Its experienced team of engineers, project managers, and field professionals works collaboratively with municipal bodies, private clients, and government agencies to deliver solutions that are both innovative and reliable. This dedication to technical excellence is signified by a continuous focus on optimizing operational costs and ensuring sustainability in every project undertaken.

Quality Assurance and Project Execution

Quality control and operational integrity are embedded in Shimmick's corporate ethos. The company employs rigorous safety and environmental protocols to safeguard project execution. Each project is managed with a clear objective: to deliver superior quality in every stage, from planning and design to construction and long-term support. Shimmick's systematic approach involves comprehensive risk assessments, detailed contingency planning, and close monitoring of construction activities, ensuring that each infrastructure project conforms to highest industry standards.

Strategic Market Position and Competitive Landscape

Shimmick stands out in a competitive landscape through its diversified expertise and deep operational knowledge. Unlike competitors who may be narrowly focused on single segments, Shimmick’s broad spectrum of services spans water treatment, water resource management, and a host of other critical infrastructure projects. This diversified portfolio underscores the company’s ability to navigate complex infrastructures and adhere to challenging regulatory standards. Its continual investment in innovative methods and skilled human capital further cements its position as a trusted partner for long-term infrastructural solutions.

Operational Excellence and Industry Collaboration

Collaboration plays a pivotal role in Shimmick’s project delivery. The company frequently teams up with local governments, engineering firms, and subcontractors to leverage mutual expertise. This network ensures that each project benefits from collective experience and specialized skills required for cutting-edge infrastructure. Whether it is securing complex contracts for large-scale water treatment plants or managing coordinated public works projects, Shimmick consistently employs a consultative approach that reinforces transparency, accountability, and long-term value. The collaborative effort is evident in the company's ability to integrate multiple facets of design, construction, and maintenance into streamlined processes that enhance overall project quality.

Financial Prudence and Operational Resilience

While Shimmick has successfully executed numerous high-profile projects, the company remains focused on operational efficiency and strategic financial management. It adopts a prudent financial approach by balancing project investments with long-term operational responsibilities. Its operating model is designed to absorb market fluctuations and manage risks associated with large scale projects. By emphasizing ongoing maintenance contracts and carefully structured revenue streams, the firm ensures a steady operational performance. This balanced approach serves as the bedrock for Shimmick’s continued reliability in delivering complex infrastructural projects without compromising quality or safety.

Commitment to Sustainability and Long-Term Service

Central to the company’s philosophy is its commitment to sustainability. Shimmick integrates environmentally aware practices into every aspect of its business, from the design phase to construction and operation. Although the description focuses on the engineering and operational facets, the company is also mindful of the environmental impacts of its projects. By emphasizing resource efficiency and the modernization of aging infrastructure, Shimmick contributes to broader public health and community resilience. This sustainable approach not only drives the value proposition for its clients but also ensures that infrastructure systems are built to serve future generations.

Client-Centric Approach and Technical Innovation

Shimmick’s client-centric approach is another pillar of its operational strategy. The company works closely with clients to understand their specific needs, crafting tailored solutions that address unique challenges. This dedication to customer service extends through all phases of the project lifecycle, ensuring that every design proposal, every construct phase, and every post-completion maintenance plan is aligned with client expectations. Such attention to detail, combined with a relentless pursuit of technical innovation, helps Shimmick minimize risks and underscore its reputation for delivering projects that are both effective and timely.

Future-Proofing Infrastructure without Speculation

Although Shimmick’s business narrative is grounded in historical expertise and well-executed projects, its comprehensive overview remains neutral and balanced. The company does not speculate on future projections; rather, it provides a factual representation of its capabilities and operational strategy. By maintaining a focus on deliverables and established accomplishments, Shimmick ensures that its narrative remains evergreen. Investors and stakeholders can appreciate the company's commitment to reliable operations, as well as its methodical approach to addressing infrastructural challenges in a rapidly shifting environment.

Comprehensive Reporting and Accountability

Transparency and accountability are foundational to Shimmick’s interactions with stakeholders. Detailed reporting on project advancements, coupled with stringent governance measures, supports the company’s narrative of reliability. Each project report provides insights into operational challenges, risk management strategies, and performance metrics, ensuring that all phases of infrastructure development are traceable and comprehensible. This comprehensive reporting process not only reinforces trust among clients and partners but also solidifies Shimmick’s status as a well-informed, enterprise-level operator in the public works and infrastructure sectors.

Conclusion

In summary, Shimmick Corporation stands as a robust institution in the realm of water infrastructure and critical construction projects. Its diverse portfolio, deep technical expertise, and strategic operational framework contribute to a vibrant legacy of excellence in addressing the nation’s infrastructure challenges. With an emphasis on quality, sustainability, and long-term client partnerships, Shimmick continues to shape a safer, more resilient public infrastructure landscape. Through detailed planning, collaborative partnerships, and cutting-edge technological integration, the company exemplifies the evolution of traditional construction methodologies into modern, efficient, and reliable solutions.

Rhea-AI Summary

Shimmick Corp. (NASDAQ: SHIM) reported Q4 2024 financial results with revenue of $104 million, including $80 million from Shimmick Projects. Full-year 2024 revenue reached $480 million, with $356 million from Shimmick Projects.

The company reported a net loss of $38 million and Adjusted EBITDA of $(27) million in Q4 2024, primarily due to Legacy Projects. Current backlog stands at $822 million, with over 87% comprising Shimmick Projects. The company maintains liquidity of $100 million and secured a new $15 million credit agreement.

For fiscal 2025 guidance, Shimmick projects:

  • 10-15% revenue growth in Shimmick Projects with 9-12% gross margin
  • $50-60 million revenue from Legacy and Foundations Projects
  • Adjusted EBITDA between $15-25 million

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Shimmick (Nasdaq: SHIM), a leading infrastructure solutions provider focused on water, climate resilience, energy transition, and sustainable transportation projects, has scheduled its fourth quarter and full year 2024 earnings release for Thursday, March 13, 2025, after market close.

The company will host a conference call at 5:00 p.m. Eastern Time on the same day. Investors can join via phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A replay will be available until April 3, 2025, by dialing (877)-660-6853 (domestic) or (201)-612-7415 (international) with passcode 13750884. Additionally, a simultaneous webcast will be accessible through the company's Investor Relations website.

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Shimmick Construction and Myers and Sons, operating as Myers-Shimmick Joint Venture (MSJV), have been awarded an $8.26 million contract for preconstruction services on the North Hollywood to Pasadena Bus Rapid Transit Project by LA Metro. The project involves developing a 19-mile transit corridor connecting multiple California cities with 22 new stations.

If awarded the construction phase, the project's estimated value would be $190 million. The initiative aims to provide faster transit options, reduce traffic congestion, and improve air quality using zero-emission electric buses. Early utility work is scheduled to begin in 2025, with completion targeted for 2028.

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Shimmick Construction (Nasdaq:SHIM) has been awarded a $45.4 million contract for the Murray Street Bridge project in Santa Cruz. The project involves extensive seismic retrofitting and improvements to enhance the bridge's resilience and accessibility. The scope includes installation of new piles, extended pile caps, new columns, and bent caps. The upgraded bridge will feature wider bike lanes, a new dedicated sidewalk, and see-through barrier rails replacing existing concrete barriers to improve harbor views. Shimmick has previous experience with similar projects including the Caltrans Dumbarton Bridge Seismic Retrofit and Port of San Francisco Illinois Street Intermodal Bridge.

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Shimmick (NASDAQ: SHIM) reported Q3 2024 financial results with revenue of $166 million, including $101 million from Shimmick Projects. The company secured a $97 million settlement for the Golden Gate Bridge Project, to be collected by end of 2024. Q3 highlights include a 6% gross margin on Shimmick Projects, a net loss of $2 million, and Adjusted EBITDA of $30 million. The company's backlog stands at $834 million, with over 85% being Shimmick Projects. Notable events include the appointment of Ural Yal as new CEO, a $17 million gain from a sale-leaseback transaction, and a $16 million one-time charge related to ERP system enhancement.

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Shimmick Corp (NASDAQ: SHIM) has appointed Ural Yal as its new CEO and Board member, effective December 2, 2024. Yal, 47, succeeds Steve Richards, who is retiring after a 43-year career. Yal brings 26 years of water and infrastructure construction experience, previously serving as Executive Vice President at Flatiron Construction. Richards, who has been CEO since 2021, will transition to a strategic advisor role and remain on the Board until the 2025 annual meeting. The leadership change comes after the company's successful IPO, strategic repositioning, and recent major claim settlements.

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Shimmick (Nasdaq: SHIM), a water infrastructure company, announced it will release its third quarter 2024 financial results before market open on Tuesday, November 12, 2024. The company will host a conference call at 8:30 a.m. ET on the same day. Investors can join via phone at (877)-869-3847 (domestic) or (201)-689-8261 (international). A replay will be available until December 3, 2024, and can be accessed at (877)-660-6853 (domestic) or (201)-612-7415 (international) using passcode 13749091. A simultaneous webcast will be available on the company's Investor Relations website.

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Shimmick Corp (NASDAQ: SHIM) announced a $97 million settlement for its Golden Gate Bridge Project, resolving its last major outstanding legal claim. The settlement includes a $6.0 million reduction in work scope and project completion extension. Through Shimmick/Danny's Joint Venture, the payment will be received by end of 2024. The company expects to reach substantial completion of onsite work by Q3 2025. Key financial updates include a $17 million gain from the Tracy equipment yard sale-leaseback and a $16 million expense for ERP system enhancement. For Q3 2024, project losses are expected to largely offset the settlement gains, resulting in breakeven to small loss.

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Shimmick Corp. (NASDAQ: SHIM) announced Q2 2024 results and provided an update on its transformation plan. Key highlights include:

- Revenue of $91 million, including $84 million from Shimmick Projects and a $23 million reduction in Legacy Projects revenue due to a settlement

- Net loss of $51 million and Adjusted EBITDA loss of $40 million

- Backlog of over $923 million, with 80% being Shimmick Projects

- Settlement agreement on a Legacy Loss Project, resulting in $33 million additional liquidity

- Sale of Tracy Equipment Yard for $20.5 million, with net proceeds used to repay debt

The company is focusing on the California water and critical infrastructure market, implementing initiatives to improve bidding, right-size costs, and redefine its operating model. Shimmick Projects revenue is expected to remain flat for FY2024, with gross margin between 4-9%.

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Shimmick (Nasdaq: SHIM), a leading water infrastructure company, has updated its second quarter 2024 earnings conference call date. The call will now take place on Friday, August 16, 2024, at 8:30am ET, instead of the previously scheduled Thursday, August 15. The company will still release its Q2 2024 results after market close on August 15, as originally planned.

Investors can access the call by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A replay will be available until September 6, 2024. Additionally, a simultaneous webcast will be accessible on the company's Investor Relations website.

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FAQ

What is the current stock price of SHIMMICK CORPORATION (SHIM)?

The current stock price of SHIMMICK CORPORATION (SHIM) is $1.67 as of March 14, 2025.

What is the market cap of SHIMMICK CORPORATION (SHIM)?

The market cap of SHIMMICK CORPORATION (SHIM) is approximately 53.7M.

What is the core business of Shimmick Corporation?

Shimmick Corporation specializes in water and critical infrastructure solutions, including water treatment, water resources development, and construction of essential public works.

Which sectors does Shimmick primarily serve?

The company serves sectors such as municipal water treatment, flood control, dam construction, transit infrastructure, and other similar public and private infrastructure projects.

How does Shimmick generate revenue?

Shimmick typically generates revenue through project-based contracts, long-term operations and maintenance agreements, and strategic joint ventures in infrastructure development.

What distinguishes Shimmick from its competitors?

Shimmick is distinguished by its comprehensive service model, self-performing construction capabilities, extensive industry expertise, and its securement of multi-dimensional infrastructure projects.

What type of water treatment projects does the company engage in?

The company is involved in expanding, upgrading, and constructing facilities for water and wastewater treatment, including modern desalination systems and wastewater recycling infrastructures.

How does Shimmick ensure quality and project management?

Quality assurance at Shimmick involves rigorous planning, systematic risk assessments, integrated project management protocols, and adherence to strict safety and environmental standards.

What role does technology play in Shimmick's operations?

Technology is central to Shimmick’s operations, from advanced water purification methods to modern construction techniques that enhance project efficiency and sustainability.

How does the company contribute to infrastructure sustainability?

By integrating environmentally responsible practices and focusing on resource management, Shimmick designs and builds infrastructure systems that promote long-term sustainability and operational resilience.
SHIMMICK CORPORATION

Nasdaq:SHIM

SHIM Rankings

SHIM Stock Data

53.74M
3.13M
91.1%
7.07%
0.13%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States
IRVINE