Group 1 - The company's results show significant improvement compared to last year, primarily due to progress in non-core projects [1] - The investment approach focuses on long-term operational aspects rather than market-driven dynamics, emphasizing the importance of understanding a company's earnings power and competitive dynamics [1] - The majority of investment recommendations are holds, reflecting a cautious stance in a bullish market environment [1] Group 2 - The article does not provide specific stock positions or plans to initiate any positions in the mentioned companies [2] - The opinions expressed are solely those of the author and do not represent any business relationships with the companies discussed [2] - There is a disclaimer regarding the lack of guarantees on past performance and suitability of investments for particular investors [3]

IRVINE, Calif., March 17, 2026 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, today announced that it has secured approximately $256 million in new infrastructure projects, advancing the company’s plans to grow within its core expertise of water and electrical infrastructure in key markets of California and Texas. The newly awarded work includes major stormwater and flood protection projects in California and a wastewater treatmen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-41867 Shimmick Corporation (Exact name of registrant as specified in its Charter) Delaware 84-3749368 (State or other jurisdiction of i ...

Shimmick (NasdaqCM:SHIM) Q4 2025 Earnings call March 12, 2026 04:30 PM ET Company ParticipantsTodd Yoder - CFOUral Yal - CEOConference Call ParticipantsAaron Spychalla - Senior Research AnalystGerard Sweeney - Managing Director and Senior Research AnalystUral YalGood afternoon, and thank you all for joining us on today's call. I'm joined by Todd Yoder, Shimmick's CFO. Before I get started, I would like to recognize the women and men who work at Shimmick, safely and effectively delivering the projects we tak ...

Financial Data and Key Metrics Changes - Consolidated revenue for 2025 was $493 million, a 3% increase from $480 million in 2024 [19] - Gross margin improved to 7% of revenue in 2025, up from a negative 12% in 2024, reflecting a $90 million increase in total gross margin [19] - Adjusted EBITDA for 2025 was $5 million, a significant improvement from a negative $61 million in 2024 [20] Business Line Data and Key Metrics Changes - Revenue from Shimmick projects was $395 million in 2025, a 12% increase year-over-year, representing 75% of total revenue [2] - Gross margin for Shimmick projects increased to 10%, a 400 basis point improvement over the previous year [3] - Non-core project revenue decreased to $96 million in 2025 from $125 million in 2024, reflecting the focus on winding down these projects [19] Market Data and Key Metrics Changes - The backlog grew to $793 million at the end of 2025, with a book-to-burn ratio of 1.4 times [18] - The company expects a robust pipeline supporting $600 million to $1 billion in bidding volumes per month [7] - The market environment remains healthy, with consistent investment in core markets [4] Company Strategy and Development Direction - The company is focused on three strategic pillars: growing the top line, winding down low-margin non-core projects, and driving operational improvements [2] - The strategy includes diversifying the customer base and focusing on growth markets geographically [4] - The company aims to position itself as a top infrastructure provider by winning strategic, risk-balanced work [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, expecting revenue growth between 12% and 22% [22] - The company anticipates improved gross margins driven by a favorable project mix and efficient SG&A management [31] - Management noted that the market remains healthy, with a strong backlog and pipeline dynamics moving in the right direction [12] Other Important Information - The company ended 2025 with total liquidity of $44 million, consisting of $20 million in cash and $24 million available under credit agreements [18] - The company has been awarded contracts worth $128 million in early 2026, with an additional $234 million pending [21] Q&A Session Summary Question: How does the mix of projects impact margins going into 2026? - Management expects gross margins to increase, influenced by the mix of projects, with some projects yielding higher margins than others [31] Question: What is the visibility on overall spending and macro environment across territories? - Management indicated strong activity in California and Texas, with no shortage of opportunities in the next 12-24 months [34] Question: What is the guidance for 2026, especially regarding EBITDA and non-core revenue? - Management simplified guidance, expecting to burn through most non-core work, which currently represents about 11% of the backlog [43] Question: Can you provide more details on the electrical infrastructure projects? - The electrical business is seeing strong bidding activity, with project sizes ranging from $5 million to $200 million, particularly in Texas and California [46] Question: How is the company managing the wrap-up of legacy non-core projects? - Management reported that only two non-core projects remain active, with expectations to complete them this year [50]

Financial Data and Key Metrics Changes - Consolidated revenue for 2025 was $493 million, a 3% increase from $480 million in 2024 [19] - Gross margin improved to 7% of revenue, up from a negative 12% in 2024, reflecting a $90 million increase in total gross margin [19][16] - Adjusted EBITDA for 2025 was $5 million, a significant improvement from a negative $61 million in 2024 [20] Business Line Data and Key Metrics Changes - Revenue from Shimmick projects was $395 million, a 12% increase year-over-year, representing 75% of total revenue [2] - Non-core project revenue decreased to $96 million from $125 million in 2024, indicating a focus on winding down low-margin projects [19][3] - Gross margin for Shimmick projects was 10%, a 400 basis point improvement over the previous year [3] Market Data and Key Metrics Changes - Backlog grew to $793 million, with a book-to-burn ratio of 1.4 times, indicating strong demand and project wins [18][5] - The company expects a robust pipeline with $600 million to $1 billion in bidding volumes per month [6][4] - New awards booked during Q4 2025 were $135 million, a sequential increase from Q3 2025 [18] Company Strategy and Development Direction - The company is focused on three strategic pillars: growing the top line, winding down legacy low-margin projects, and driving operational improvements [2][23] - Emphasis on collaborative delivery methods, such as progressive design-build and construction manager/general contractor, to enhance project execution and margins [8][9] - The company aims to position itself as a top infrastructure provider by aligning project selection with core strengths and market opportunities [25][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, projecting revenue growth between 12% and 22%, with adjusted EBITDA expected to increase significantly [22] - The market remains healthy, with strong demand in core sectors such as water and electrical construction, particularly in California and Texas [34][4] - Management highlighted improvements in operational efficiency and talent retention as key factors for future success [11][12] Other Important Information - The company ended 2025 with total liquidity of $44 million, consisting of $20 million in cash and $24 million available under credit agreements [18] - The company is actively pursuing opportunities in the data center market, which is expected to contribute significantly to future revenue [9] Q&A Session Summary Question: How will gross margins be impacted by new project awards? - Management expects gross margins to increase, influenced by the mix of projects, with a focus on maintaining efficient SG&A expenses [30][31] Question: What is the outlook for backlog and overall spending in key markets? - Management indicated strong visibility in California and Texas, with no shortage of opportunities expected in the next 12-24 months [34][35] Question: What is the guidance for 2026, particularly regarding non-core revenue? - Management anticipates burning through most non-core work, which currently represents about 11% of the backlog, with minimal impact on overall margins [43][44] Question: Can you provide more details on the electrical infrastructure projects? - The electrical business is seeing strong bidding activity, with projects ranging from $5 million to $200 million, particularly in Texas and California [46][47] Question: How is the company managing the completion of legacy non-core projects? - Management reported that only two non-core projects remain active, with a focus on wrapping them up efficiently this year [48][49]

SHIMMICK CORPORATION Q4 2025 Earnings Presentation March 12, 2026 Disclaimer This presentation is being delivered on behalf of Shimmick Corporation (the "Company"). The sole purpose of this presentation is to provide information in connection with a review of the Company's operations and/or financial status. This presentation does not purport to be all-inclusive or to contain all of the information that prospective investors may desire in reviewing the Company. 2 Shimmick Overview Shimmick is a leading cont ...

• Reported revenue of $100 million, which includes $84 million of Shimmick Projects revenue, for Q4 2025, and revenue of $493 million, which includes $397 million of Shimmick Projects revenue, for FY2025 o Shimmick Projects Q4 2025 revenue up 4% year over year o Shimmick Projects FY2025 revenue up 12% year over year • Reported Q4 2025 gross margin of $10 million, all of which was driven by Shimmick Projects o Shimmick Projects Q4 2025 gross margin up 462% year over year o Shimmick Projects FY2025 gross marg ...

Core Insights - Shimmick Corp. reported financial results for Q4 and FY2025, highlighting a strategic focus on growing backlog and improving operational performance [3][4][25] - The company anticipates strong revenue growth in 2026, particularly in its electrical business, supported by robust bidding activity [4][25] Financial Performance - Q4 2025 revenue was $100 million, with Shimmick Projects contributing $84 million, marking a 4% year-over-year increase [5][6] - FY2025 revenue totaled $493 million, with Shimmick Projects revenue up 12% year-over-year [5][6] - Gross margin for Q4 2025 was $10 million, a significant increase of 462% year-over-year, driven entirely by Shimmick Projects [5][9] - The net loss attributable to Shimmick Corporation for Q4 2025 was $3 million, a decrease from a loss of $38 million in Q4 2024 [5][21] - Adjusted EBITDA for Q4 2025 was $4 million, marking the second consecutive quarter of positive EBITDA [5][24] Backlog and New Awards - As of January 2, 2026, the backlog stood at approximately $793 million, with a book-to-burn ratio of 1.4x, indicating a 5% increase compared to Q3 2025 [5][25] - In Q4 2025, $139 million in new work was booked, with Shimmick Projects representing over 89% of the total backlog [5][25] - An additional $128 million in new awards was added to the backlog as of February 2026, with $234 million in pending awards expected to contribute to 2026 backlog [5][25] Outlook for 2026 - The company projects consolidated revenue growth of 12% to 22% for 2026, estimating total revenue between $550 million and $600 million [25][29] - Adjusted EBITDA is expected to range from $15 million to $30 million for 2026, representing a year-over-year growth of 200% to 500% [25][29]

IRVINE, Calif., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, today announced that the company will release its fourth quarter and full year 2025 financial results after market close on Thursday, March 12, 2025. Shimmick will also host a video webcast conference call to discuss those results at 4:30 p.m. Eastern Time on the same day. The conference call will be live-streamed via the Company’s Investor Relations webs ...