Shimmick Corporation ( (SHIM) ) has released its Q3 earnings. Here is a breakdown of the information Shimmick Corporation presented to its investors.
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Shimmick Corporation is a prominent infrastructure solutions provider specializing in water, electrical, and other critical infrastructure construction services, operating primarily in the United States. The company is known for its innovative and technology-driven approach to infrastructure challenges.
In its third-quarter 2025 earnings report, Shimmick Corporation reported a revenue of $142 million, with significant contributions from its Shimmick Projects. The company also highlighted a backlog increase and a positive adjusted EBITDA for the first time in four quarters, indicating operational momentum.
Key financial metrics from the report include a 5% year-over-year increase in total revenue, excluding a one-time settlement from the previous year, and a 67% year-over-year increase in gross margin for Shimmick Projects. The backlog reached approximately $754 million, marking a 15% quarter-over-quarter increase, and the company added $190 million in new work during the quarter. Despite these positive indicators, Shimmick reported a net loss of $4 million, primarily due to Non-Core Projects.
Looking ahead, Shimmick’s management remains optimistic about 2026, driven by strong bidding activity and positive market conditions, particularly in California and Texas. The company reaffirms its full-year 2025 guidance, expecting Shimmick Projects revenue to be at the higher end of the range and adjusted EBITDA at the lower end, reflecting confidence in its strategic direction and growth prospects.