Shimmick (SHIM) Investor presentation summary

Company overview and market position

• Operates across 9 states with over 1,000 employees and a focus on water, power, and civil infrastructure.

• Core markets include water infrastructure, climate resilience, transportation, and energy transition.

• Addressable market projected at $128B by 2030, with 2026 revenue guidance of $550–600M.

• Self-perform capabilities in water and electrical infrastructure, including a specialized electrical subsidiary.

• Presence in both established and growth markets, targeting high-demand regions for infrastructure.

Leadership and transformation

• Recently appointed executive team with decades of experience from major infrastructure organizations.

• Strategic focus on backlog growth, execution excellence, and risk management.

• Transformation from fixed-price, hard-bid legacy projects to selective, lower-risk, alternative delivery.

• Centralized procurement, consolidated systems, and talent transformation support scalable growth.

Financial performance and guidance

• Q1 2026 backlog reached $944M, with a 2.6x book-to-burn ratio, the highest since becoming public.

• Q1 2026 revenue from core projects was $96M, with an 89% gross margin improvement year-over-year.

• Non-core project revenue declined as legacy projects wind down, with over 95% completion.

• 2026 full-year revenue guidance reaffirmed at $550–600M, a 17% increase year-over-year at midpoint.

• Adjusted EBITDA guidance for 2026 is $15–30M, representing a 350% increase at the midpoint.