Group 1: Earnings Performance - Shimmick Corporation reported quarterly earnings of $0.72 per share, significantly beating the Zacks Consensus Estimate of a loss of $0.38 per share, representing an earnings surprise of 289.47% [1] - The company posted revenues of $166.04 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 31.77%, although this is a decrease from year-ago revenues of $175.45 million [2] - Over the last four quarters, Shimmick Corporation has only surpassed consensus EPS estimates once [2] Group 2: Stock Performance and Outlook - Shimmick Corporation shares have declined approximately 67.3% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the sustainability of the recent earnings numbers [3][4] - The current consensus EPS estimate for the upcoming quarter is -$0.35 on revenues of $120 million, and for the current fiscal year, it is -$3.48 on revenues of $456.6 million [7] Group 3: Industry Context - The Waste Removal Services industry, to which Shimmick Corporation belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Shimmick Corporation's stock performance [5][6]
Shimmick Corporation (SHIM) Beats Q3 Earnings and Revenue Estimates