Shimmick (NASDAQ:SHIM) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Shimmick (NASDAQ:SHIM) issued its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01), FiscalAI reports. The company had revenue of $88.03 million for the quarter, compared to the consensus estimate of $120.80 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

SHIM stock traded up $0.38 during trading on Thursday, hitting $5.02. 255,361 shares of the stock traded hands, compared to its average volume of 239,459. Shimmick has a 1 year low of $1.37 and a 1 year high of $6.76. The firm’s 50 day moving average is $4.24 and its two-hundred day moving average is $3.49. The stock has a market cap of $182.23 million, a price-to-earnings ratio of -6.88 and a beta of 1.27.

Insider Buying and Selling

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 sale, the director directly owned 20,974,873 shares of the company’s stock, valued at approximately $59,988,136.78. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SHIM shares. Roth Mkm upgraded shares of Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.50.

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.