Increased Revenue from Core Shimmick Projects
Third quarter revenue from Shimmick projects was $107 million, representing a 6% increase year-over-year.
Significant Growth in Backlog
Backlog grew by over $100 million or 15% sequentially in the third quarter, reaching $754 million.
Expanded Gross Margin on Shimmick Projects
Gross margin on Shimmick projects increased by 67% compared to the prior year's third quarter.
Strong Bidding Pipeline
Achieved $1 billion in bidding volumes in September and October, with a 12-month bidding outlook over $9 billion.
Positive Adjusted EBITDA Achievement
Achieved positive adjusted EBITDA of $4 million for the first time this year and since the same period in 2024.