Recent Updates — SHIM

On October 2, 2026, Shimmick Corporation entered into a Loan and Security Agreement with Sixty-First Commercial Finance, LLC, securing a borrowing capacity of $14.3 million evidenced by a promissory note due on October 2, 2031. The facility accrues interest at an annual rate of 9.31%, secured by equipment, intellectual property, and other collateral, with guarantees provided by the Company and its subsidiaries. Concurrently, Shimmick repaid all outstanding amounts under a previous loan agreement with Ansley Park Capital LLC and terminated that prior facility. The company also amended existing revolving credit facilities with Alter Domus (US) LLC and ACF FINCO I LP to replace references to the terminated lender. Shimmick Corporation operates in the construction industry, specializing in infrastructure projects such as highways, bridges, and tunnels.

Shimmick Corporation reported second quarter 2026 financial results for the period ended July 3, 2026. The company generated $107 million in revenue and a gross margin of $12 million, with Shimmick Projects contributing $96 million in revenue and $11 million in gross margin. Net loss narrowed to $5 million from $9 million in the prior year period, while Adjusted EBITDA turned positive at $4 million, marking four consecutive quarters of profitability. Liquidity stood at $33 million as of July 3, 2026. Backlog reached approximately $991 million, supported by $138 million in new awards booked during the quarter and an additional $221 million pending. The company updated its full-year 2026 revenue guidance to a range of $525 million to $575 million while reaffirming Adjusted EBITDA guidance of $15 million to $30 million. Shimmick Corporation operates in the infrastructure construction industry, providing turnkey solutions for water, energy, climate resiliency, and sustainable transportation projects.