Shimmick Q1 Revenue Misses by 25%, Falls to $88M; EPS Misses While Adjusted EBITDA Beats
SHIM has more than doubled off its 52-week low of $1.365.
Summary
Shimmick Corporation reported Q1 revenue of $88 million, significantly missing analyst estimates of $116.8 million, and adjusted EPS of -$0.07, missing estimates of -$0.06. The revenue decline was primarily due to lower activity on existing projects and the absence of a prior-year fire clean-up project. However, the company's adjusted EBITDA improved to $3 million, beating consensus estimates of $1.75 million, marking its third consecutive positive quarter. Despite the mixed Q1 results, Shimmick reaffirmed its 2026 revenue guidance of $550 million to $600 million and adjusted EBITDA guidance of $15 million to $30 million. This report provides the first quarterly update since the FY2025 10-K, which highlighted a turnaround but also significant legal and internal control risks. Investors will closely watch whether activity builds in the summer as new projects ramp up, as the company expects, to meet its full-year guidance.
At the time of this announcement, SHIM was trading at $5.10 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $182.2M. The 52-week trading range was $1.37 to $6.76. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.