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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Shimmick
Shimmick (SHIM) investor relations material
Shimmick Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary10 Aug, 2026
Executive summary
Q2 2026 revenue was $107 million, with gross margin expanding to 12% and Adjusted EBITDA reaching $4.4 million, marking the fourth consecutive quarter of positive Adjusted EBITDA and backlog growth.
Net loss narrowed to $5 million, an improvement from $8 million loss in Q2 2025, driven by higher gross margin and joint venture earnings despite increased SG&A and interest expense.
Backlog reached $991 million as of July 3, 2026, with $138 million in new work booked and $221 million in additional awards pending, and 80% expected to be recognized within 24 months.
Major new project wins include the $124 million Coyote Creek Flood Protection Project in California, $85 million in Walnut Creek Wastewater Plant contracts, and a data center in West Virginia.
Operational improvements, focus on core markets, and exit from non-core projects are driving margin consistency and future growth.
Financial highlights
Q2 2026 consolidated revenue was $107 million, down from $128 million in Q2 2025 but up 9% sequentially from Q1 2026.
Gross margin improved to $12.5 million (12% of revenue), up from $8.1 million (6%) in Q2 2025, driven by higher-margin new projects and reduced non-core losses.
Adjusted EBITDA for Q2 2026 was $4.4 million, up from $(0.2) million in Q2 2025.
Liquidity at quarter end was $33 million, including $17 million in cash and $16 million in credit availability.
SG&A expense was $16 million, up $1 million year-over-year due to one-time legal and equity issuance costs.
Outlook and guidance
Full-year 2026 revenue guidance updated to $525 million–$575 million, representing 12% year-over-year growth at the midpoint.
Full-year 2026 Adjusted EBITDA guidance reaffirmed at $15 million–$30 million, implying 350% growth at the midpoint.
Expect sequential improvement in results as higher-margin projects ramp up and non-core work diminishes.
Liquidity of $33 million as of July 3, 2026, considered sufficient for at least the next twelve months.
Anticipates continued revenue growth into 2027, driven by ramp-up of new project wins in California, Texas, and Washington.
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Latest events from Shimmick
- Record backlog and margin gains drive 2026 revenue guidance of $550–600M and EBITDA growth.SHIM
Investor presentation - Board re-elections and auditor ratification were approved with a quorum present.SHIMAGM 2026
- Gross margin rose to 12% and backlog hit $944M as core projects drove record Q1 results.SHIMQ1 2026
- Director elections, auditor ratification, and governance reforms headline the annual meeting.SHIMProxy filing
- Strong 2025 results and improved margins set up double-digit growth and robust backlog for 2026.SHIMQ4 2025
- Registering up to $20M in common stock to fund growth, with strong industry standing and risk factors.SHIMRegistration Filing
- Q3 net loss of $2M on $166M revenue; $97M GGB settlement and $834M backlog support outlook.SHIMQ3 2024
- Q2 net loss of $51M+ on lower revenue and Legacy Project settlement; $923M backlog remains.SHIMQ2 2024
- Backlog above $822M and strong liquidity support margin recovery and growth in 2025.SHIMQ4 2024
Next Shimmick earnings date
Q3 202612 Nov, 2026
Shimmick
Next Shimmick earnings date
Q3 202612 Nov, 2026
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Frequently asked questions
Shimmick Corporation specializes in delivering water and critical infrastructure solutions across the United States. The company undertakes a variety of projects, including water and wastewater treatment infrastructure, water storage and conveyance systems, and flood control systems. Additionally, Shimmick is involved in the construction of mass transit systems, bridges, and military infrastructure projects. The company serves federal, state, and local governments, leveraging its extensive experience in complex infrastructure projects to address the nation's growing demand for sustainable water solutions. The company is headquartered in Irvine, California, and its shares are listed on the NASDAQ.