Shimmick Corporation Reports Third Quarter 2026 Financial Results

Shimmick Corporation reported third quarter 2026 revenue of $136 million, all driven by Shimmick Projects, representing a 28% quarter-over-quarter increase. The company achieved a net income of $1 million, marking its first profitable quarter since Q3 2023, and reported adjusted diluted earnings of $0.08 per share compared to a loss of $0.01 in the prior-year period. Adjusted EBITDA reached $9 million, up 106% quarter-over-quarter, with a total backlog of approximately $907 million as of the end of the quarter. Additionally, the company revised its full-year revenue guidance to a range of $500 million to $525 million, down from its previous forecast of $525 million to $575 million. Management attributed the performance to a strategy focused on higher-margin work in water, climate resilience, energy transition, and sustainable transportation.