Earnings Releases·Nov 12, 2026, 4:07 PM ET

Shimmick Corporation — Third Quarter 2026 Earnings Summary

Q3 2026 revenue declined 4% year-over-year to $136 million, while gross margin percentage expanded to 12% from 8% and Adjusted EBITDA surged 125% to $9 million, driving a return to positive net income of $1 million versus a $4 million loss in the prior year period.
Full-year 2026 revenue guidance was updated to $500–$525 million (4% growth), and Adjusted EBITDA guidance was narrowed and reaffirmed at $20–$25 million, representing 350% growth at the midpoint year-over-year.
Strategic progress is evident as Non-Core activity winds down, with Shimmick Projects revenue up 27% year-over-year to $136 million, while total backlog reached $907 million with $401 million in new awards pending.
Liquidity improved sequentially by $20 million to $53 million, supported by $18.3 million in net equity proceeds and $50 million in debt repayments over the first nine months, despite total debt rising to $74.5 million.