Shimmick Reports Q1 Revenue Miss, Reaffirms FY2026 Guidance Amid Operational Turnaround
SHIM has more than doubled off its 52-week low of $1.365.
Summary
Shimmick Corporation missed Q1 revenue estimates but posted positive Adjusted EBITDA and record backlog, reaffirming its full-year guidance despite the Q1 miss.
Key Events · Earnings and Guidance · SHIM
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Q1 Revenue Miss
Reported Q1 2026 revenue of $88 million, significantly below analyst estimates of $116.8 million.
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Improved Profitability
Achieved positive Adjusted EBITDA of $3 million, marking the third consecutive quarter of positive Adjusted EBITDA, and reduced net loss to $4 million from $10 million year-over-year.
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Record Backlog & Book-to-Burn
Backlog reached approximately $944 million as of April 3, 2026 (highest since Q1 2024), with a record book-to-burn ratio of 2.6x.
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FY2026 Guidance Reaffirmed
Management maintained its full-year 2026 consolidated revenue guidance of $550 million to $600 million and Adjusted EBITDA guidance of $15 million to $30 million, signaling confidence despite the Q1 miss.
Analysis · SHIM · Real Estate & Construction
Shimmick Corporation reported Q1 2026 revenue of $88 million, significantly missing analyst estimates of $116.8 million, which could lead to immediate negative market reaction. However, the company achieved its third consecutive quarter of positive Adjusted EBITDA of $3 million and significantly reduced its net loss to $4 million. The company also reported its highest backlog of $944 million since Q1 2024 and a record 2.6x book-to-burn ratio, indicating strong future project pipeline. Management reaffirmed its full-year 2026 guidance, signaling confidence in a strong rebound and continued operational improvements, particularly as problematic "Non-Core Projects" wind down.
At the time of this filing, 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 filing was assessed with neutral market sentiment and an importance score of 7 out of 10.