Shimmick reports Q2 2026 revenue, backlog growth, guidance reaffirmed

Shimmick (NASDAQ: SHIM ) held its second-quarter earnings conference call on Monday.

Below is the complete transcript from the call.

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The full earnings call is available at Summary Shimmick Corporation reported consolidated revenue of $107 million for Q2 2026, with a gross margin expansion to 12% and adjusted EBITDA growth to $4 million.

The company achieved a record backlog of $991 million, with significant new project awards totaling $138 million in Q2 2026 and an additional $221 million secured post-quarter.

Strategic focus remains on winding down non-core projects and expanding in core sectors like mission-critical infrastructure, with the establishment of a dedicated business unit.

Shimmick's book-to-burn ratio was 1.4, marking the fourth consecutive quarter of positive performance, indicating strong demand and project win rates.

The company reaffirmed its full-year 2026 revenue guidance of $525 million to $575 million and adjusted EBITDA guidance of $15 million to $30 million, highlighting expected growth in higher-margin projects.

Operational improvements included enhanced project controls and cost management, contributing to consistent margins and improved safety performance.

Geographical expansion focuses on core markets like California, Texas, and Washington, with a strong emphasis on water infrastructure and mission-critical projects.

Full Transcript OPERATOR (Operator) Good day and welcome to Shimmick Corp second quarter 2026 earnings conference call.

At this time all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded at this time.

I'd like to turn the call over to Anthony Rasmus.

Please go ahead.

Anthony Rasmus, Investor Relations Good afternoon and thank you for joining us on today's conference call to discuss Shimmick Corp's second quarter 2026 results.

Slides for today's presentation are available on the Investor Relations section of our website, During this conference call, management will make forward-looking statements based on current expectations and assumptions which are subject to risks and uncertainties.

Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect.

We identify the principal risks and uncertainties that may affect our performance in our reports and filings with the Securities and Exchange Commission, which can also be found on the Investor Relations website.

We do not undertake a duty to update any forward-looking statements.

Today's presentation also includes references to non-GAAP financial measures.

You should refer to the information contained in the Company's second quarter press release for definitional information and reconciliation of historical non-GAAP measures to the comparable GAAP financial measures.

With that, it is my pleasure to turn the call over to Yaral Yaal.

Yaral Yaal, CEO Good afternoon and thank you all for joining us.

On today's call, I'm joined by Todd Yoder, Shimmick Corp's CFO.

I'd like to start with recognizing our team's unwavering efforts and commitment towards delivering the work we undertake safely and to the satisfaction of our clients as we build our nation's infrastructure.

With that, I'm going to start by discussing our financial results for the second quarter of 2026.

During the second quarter we continued to execute on our strategy by making further progress winding down non-core projects while driving operational improvements across the business that enhance efficiency, improve execution and support consistent margins.

We delivered consolidated revenue of 107 million, expanded gross margin to 12% and grew adjusted EBITDA to 4 million.

What's encouraging is that activity levels continue to improve and several projects that had longer ramp-up timelines are now beginning to move forward with others approaching the start of execution.

I will touch on that more in a bit.

We added 138 million in new work booked in the second quarter which brings our total backlog to 991 million, its highest level in two years, and subsequent to quarter end we secured 221 million in additional new awards which will contribute to our backlog in 2026.

Our second quarter book-to-burn ratio was 1.4, reflecting our fourth consecutive quarter with a positive book-to-burn.

Looking ahead, we expect activity levels to increase across both existing and newly awarded projects.