Shimmick Corporation Announces Third Quarter 2025 Results

About this update from Shimmick Corporation

[{"type":"text","content":"IRVINE, Calif., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Shimmick Corp. (NASDAQ: SHIM), a leading infrastructure solutions provider in water, electrical and other critical infrastructure construction services, today announced financial results for the third quarter ended October 3, 2025.","length":281,"tagName":"p"},{"type":"text","content":"Third Quarter 2025 and Recent Highlights","length":40,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Reported revenue of $142 million, with $107 million coming from Shimmick Projects","length":81,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Shimmick Projects revenue up 6% year over year","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Total revenue up 5% year over year when excluding the one-time favorable Non-Core Project claim settlement revenue of $31 million recorded during Q3 2024","length":153,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":199,"olType":false}]},{"val":[{"type":"text","content":"Reported gross margin of $11 million, with $10 million coming from Shimmick Projects","length":84,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Gross margin on Shimmick Projects up 67% year over year","length":55,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin up $10 million year over year when excluding the one-time favorable Non-Core Project claim settlement gross margin of $11 million recorded during Q3 2024","length":166,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":221,"olType":false}]},{"val":[{"type":"text","content":"Backlog is approximately $754 million as of October 3, 2025,","length":60,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Backlog is up 15% quarter over quarter with a book-to-burn ratio of 1.7x, our first quarter with a book-to-burn ratio of over 1.0x since 2023","length":141,"tagName":"p"}]},{"val":[{"type":"text","content":"Added $190M in new work in Q3 2025, with Shimmick Projects representing over 86% of total Backlog","length":97,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":238,"olType":false}]},{"val":[{"type":"text","content":"Reported liquidity of $48 million as of October 3, 2025","length":55,"tagName":"p"}]},{"val":[{"type":"text","content":"Continued project wins in target markets are exp...

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